Essays on international finance and the economics of sovereign default

Essais sur la finance internationale et l’économie du défaut souverain

Clemens Graf von Luckner ()
Additional contact information
Clemens Graf von Luckner: ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique

SciencePo Working papers Main from HAL

Abstract: This PhD dissertation explores sovereign debt crises and the role of cryptocurrencies in international capital flows. It introduces a comprehensive global dataset of sovereign defaults since 1800, which forms the basis for two analytical chapters. The first chapter examines the long-term economic and social costs of sovereign defaults, revealing significant impacts on GDP, infant mortality, life expectancy, poverty, and calorie supply. The second chapter analyzes creditor losses in sovereign debt crises over the past two centuries, identifying patterns and predictors of haircut sizes. The third and fourth chapters shift focus to cryptocurrencies, demonstrating their use in facilitating cross-border transactions, particularly in countries with capital flow restrictions. The findings highlight the need for adapted regulatory frameworks and the potential challenges posed by digital assets to macroeconomic and financial stability. The dissertation contributes to understanding the dynamics of sovereign debt crises and the emerging role of cryptocurrencies in international capital flows, generating important implications for policymakers, investors, and researchers.

Keywords: Sovereign debt; Sovereign default; Cryptocurrencies; Capital flows; Dette souveraine; Défauts souverains; Cryptomonnaies; Flux de capitaux internationaux (search for similar items in EconPapers)
Date: 2024-06-20
References: Add references at CitEc
Citations:

Published in Economics and Finance. Institut d'études politiques de Paris - Sciences Po, 2024. English. ⟨NNT : 2024IEPP0037⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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: https://EconPapers.repec.org/RePEc:hal:spmain:tel-05101061

Access Statistics for this paper

More papers in SciencePo Working papers Main from HAL
Bibliographic data for series maintained by Contact - Sciences Po Departement of Economics ().