Foreign long term government loans of Serbia 1862-1914

Dragana Gnjatovic
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Dragana Gnjatovic: Faculty of Geo-Economy, Megatrend University

No 11, SEEMHN papers from National Bank of Serbia

Abstract: The paper gives an overview of foreign government loans to Serbia from 1862 to 1914. It considers the reasons for borrowing abroad and the conditions under which foreign banks placed Serbian government bonds on the European capital markets. Special attention is paid to the phenomenon of foreign government loans issued below par. Also, an analysis is made of the relationship between the stability of government finances and effective interest rates.

Keywords: Foreign Government Loans; Government Bonds Issued Below Par; Serbia 1862-1914 (search for similar items in EconPapers)
JEL-codes: H63 N13 N23 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2009-03
Note: The paper was presented at the Fourth Annual SEEMHN Conference hosted by the National Bank of Serbia, 27 March 2009 in Belgrade.
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Persistent link: https://EconPapers.repec.org/RePEc:nsb:mhnsee:11

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