Logo
Munich Personal RePEc Archive

The Next (but not new) Frontier for Sovereign Default

Reinhart, Carmen (2008): The Next (but not new) Frontier for Sovereign Default. Published in: VoxEU-CEPR (April 2008): pp. 1-9.

[thumbnail of MPRA_paper_11865.pdf]
Preview
PDF
MPRA_paper_11865.pdf

Download (58kB) | Preview

Abstract

There is a view today that “this time it’s different” for emerging markets. Governments are reducing their dependence on external debt and relying more on domestic debt financing for the first time! Furthermore, emerging market governments are increasingly issuing long-term domestic debt. Indeed, often this change in government debt management patterns is taken as evidence of graduation from “serial default.” In this new world, debt crises in emerging markets will be a thing of the past, and the IMF is plainly out of business.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.