Sovereign Debt Defaults: Concerns and Lessons

Ramkishen Rajan

Chapter 9 in Emerging Asia, 2011, pp 49-53 from Palgrave Macmillan

Abstract: Abstract Just when financial markets appeared to have turned the corner and concerns had shifted to whether “irrational exuberance” had returned and markets had become too “frothy”, the world was blind-sided by yet another crisis. This time it was the November 25, 2010 announcement by the Dubai government that one of the city’s largest and most important state-owned conglomerates, Dubai World, was requesting suspension on some of its debt repayments as it restructured its finances and operations, particularly those related to its property development subsidiary, Nakheel.

Keywords: Real Exchange Rate; Hedge Fund; Credit Default Swap; External Debt; International Debt (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30627-1_9

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DOI: 10.1057/9780230306271_9

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