Debt intolerance: Executive summary

Carmen Reinhart

MPRA Paper from University Library of Munich, Germany

Abstract: Speaking before the IDB Board of Directors, Carmen Reinhart discussed the syndrome of “debt intolerance,” whereby countries with weak institutional structures and problematic political systems borrow in order to avoid difficult fiscal decisions but subsequently find themselves unwilling or unable to repay. Debt intolerance, it should be noted, is by no means a recent phenomenon: the historical record shows repeated defaults by several European countries before 1900 and, in some instances, well into the twentieth century.

Keywords: debt; default; ratings; credit; crises (search for similar items in EconPapers)
JEL-codes: F21 F33 F34 (search for similar items in EconPapers)
Date: 2004
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https://mpra.ub.uni-muenchen.de/13398/1/MPRA_paper_13398.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/45219/1/MPRA_paper_13398.pdf revised version (application/pdf)

Related works:
Journal Article: Debt Intolerance (2003)
Working Paper: Debt Intolerance (2003)
Working Paper: Debt intolerance (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13398

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