Assessing new perspectives on country risk

Claudio Borio and Frank Packer ()

BIS Quarterly Review, 2004

Abstract: We examine in a unified framework three recent perspectives on country risk=debt intolerance, original sin, and currency mismatches. We find statistical evidence supporting aspects of all three, though the strength of that support varies considerably across hypotheses and a number of open questions remain. Our evidence is consistent with the view that good domestic macroeconomic and structural policies hold the key to addressing country risk.

JEL-codes: F30 G15 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (37)

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisqtr:0412e

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