EconPapers    
Economics at your fingertips  
 

Financial globalization and the raising of public debt

Marina Azzimonti (), Eva de Francisco () and Vincenzo Quadrini
Additional contact information
Vincenzo Quadrini: Department of Economics, University of Southern California

No 2011-03, Working Papers from Towson University, Department of Economics

Abstract: During the last three decades the stock of government debt has increased in most developed countries. During the same period inter- national capital markets have been liberalized. In this paper we de- velop a two-country political economy model with incomplete markets and endogenous government borrowing and show that countries choose higher levels of public debt when nancial markets are internationally integrated.

New Economics Papers: this item is included in nep-dge and nep-fdg
Date: 2011-03, Revised 2011-03
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://webapps.towson.edu/cbe/economics/workingpapers/2011-03.pdf First version, 2011 (application/pdf)

Related works:
Working Paper: Financial globalization and the raising of public debt (2011) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:tow:wpaper:2011-03

Access Statistics for this paper

More papers in Working Papers from Towson University, Department of Economics Contact information at EDIRC.
Series data maintained by Juergen Jung ().

 
Page updated 2017-06-03
Handle: RePEc:tow:wpaper:2011-03