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A model of sovereign debt in democracies /

This paper develops and empirically tests a political economy model of sovereign debt. The main incentive for repaying sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose default regardless of its consequences for future generatio...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Alichi, Ali (Autor)
Autor Corporativo: International Monetary Fund. African Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, African Dept., 2008.
©2008
Colección:IMF working paper ; WP/08/152.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Alichi, Ali,  |e author. 
245 1 2 |a A model of sovereign debt in democracies /  |c prepared by Ali Alichi. 
260 |a Washington, D.C. :  |b International Monetary Fund, African Dept.,  |c 2008. 
264 4 |c ©2008 
300 |a 1 online resource (34 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/08/152 
500 |a "June 2008." 
504 |a Includes bibliographical references (pages 23-25). 
520 3 |a This paper develops and empirically tests a political economy model of sovereign debt. The main incentive for repaying sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose default regardless of its consequences for future generations. An old generation with little concern for its country's access to capital markets can force a default on debt if it has the majority of voters. On the other hand, if the younger generation is more numerous, it can force repayment of previously defaulted debt. Other voter heterogeneities, such as in income, can generate similar results. 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified]:  |c HathiTrust Digital Library.  |d 2024.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
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590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Debts, Public  |x Econometric models. 
650 0 |a Capital market  |x Econometric models. 
650 6 |a Dettes publiques  |x Modèles économétriques. 
650 6 |a Marché financier  |x Modèles économétriques. 
650 7 |a Capital market  |x Econometric models  |2 fast 
650 7 |a Debts, Public  |x Econometric models  |2 fast 
650 7 |a Auslandsverschuldung.  |2 stw 
650 7 |a Auslandsschuldendienst.  |2 stw 
650 7 |a Demokratie.  |2 stw 
710 2 |a International Monetary Fund.  |b African Department. 
758 |i has work:  |a A model of sovereign debt in democracies (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGhC8hYdKK78m4GBcKR9Xd  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Alichi, Ali.  |t Model of sovereign debt in democracies.  |d Washington, D.C. : International Monetary Fund, African Dept., 2008  |w (OCoLC)248692213 
830 0 |a IMF working paper ;  |v WP/08/152. 
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