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Empirical research on sovereign debt and default

Michael Tomz and Mark Wright

No WP-2012-06, Working Paper Series from Federal Reserve Bank of Chicago

Abstract: The long history of sovereign debt and the associated enforcement problem have attracted researchers in many fields. In this paper, we survey empirical work by economists, historians, and political scientists. As we review the empirical literature, we emphasize parallel developments in the theory of sovereign debt. One major theme emerges. Although recent research has sought to balance theoretical and empirical considerations, there remains a gap between theories of sovereign debt and the data used to test them. We recommend a number of steps that researchers can take to improve the correspondence between theory and data.

Keywords: Debts, Public; Foreign exchange market (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-his and nep-hpe
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Empirical Research on Sovereign Debt and Default (2013) Downloads
Working Paper: Empirical Research on Sovereign Debt and Default (2013) Downloads
Working Paper: Empirical Research on Sovereign Debt and Default (2013) Downloads
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