지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2015.1
- 수록면
- 199 - 229 (31page)
이용수
초록· 키워드
오류제보하기
This study investigates the determinants of sovereign default risk in 123 developing countries over the period 1970-2012. Adopting an approach distinct from the literature, this paper employs a continuous measure of the accumulated arrears of interest payments and principal repayments on private and official external debt as a proxy for sovereign default. Apart from the importance of the current account balance, short-term debt, credit to the private sector, output, lending interest rate, and the exchange rate, empirical results show that the presence of the HIPC relief program is found to mask a portion of the true effects of the economic and political factors on debt arrears. In addition, in contrast to middle-income countries, political risk exhibits a negative impact on accumulated arrears in low-income countries. Arrears are found to be responsive to lending interest rate only in the middle-income and non- HIPC countries. Moreover, in the HIPC and low-income countries arrears are found to be more sensitive to volatility in the exchange rates. This study recommends that indebted countries: (1) stabilize their exchange rate, (2) rationally manage external debt, and (3) enhance transparency in governmental institutions.
목차
등록된 정보가 없습니다.
참고문헌 (28)
참고문헌 신청
Afonso, A. / 2010 / What "hides" behind sovereign debt rating?
Aylward, L. / 1998 / An Econometric analysis of countries' repayment performance to the International Monetary Fund
Baer, W. / 2013 / The economy of Portugal and the European Union: From high growth prospects to the debt crisis / Quarterly Review of Economics and Finance 53 (4) : 345 ~ 352
Baldacci, E. / 2011 / Political and fiscal risk determinants of sovereign spreads in emerging markets / Review of Development Economics 15 : 251 ~ 263
Balkan, E. / 1992 / Political instability, country risk and probability of default / Applied Economics 24 (9) : 999 ~ 1008
Aylward, L. / 1998 / An Econometric analysis of countries' repayment performance to the International Monetary Fund
Baer, W. / 2013 / The economy of Portugal and the European Union: From high growth prospects to the debt crisis / Quarterly Review of Economics and Finance 53 (4) : 345 ~ 352
Baldacci, E. / 2011 / Political and fiscal risk determinants of sovereign spreads in emerging markets / Review of Development Economics 15 : 251 ~ 263
Balkan, E. / 1992 / Political instability, country risk and probability of default / Applied Economics 24 (9) : 999 ~ 1008
함께 읽어보면 좋을 논문
논문 유사도에 따라 DBpia 가 추천하는 논문입니다. 함께 보면 좋을 연관 논문을 확인해보세요!
-
IS THERE MORAL HAZARD IN THE HEAVILY INDEBTED POOR COUNTRIES (HIPC) INITIATIVE DEBT RELIEF PROCESS?
Journal of Economic Development
2018 .01
-
Does External Debt Lead to Growth in the Presence of Quality Institutions?
[KIEP] World Economy Brief
2017 .10
-
An Estimation of North Korea’s External Debt
International Journal of Korean Unification Studies
2023 .06
-
농가부채의 위험성과 결정요인 분석
농업경영.정책연구
2015 .01
-
가계대출 가구의 연체사유별 특징 및 연체 결정요인 분석
부동산분석
2020 .04
-
초과부채증가율과 경제성장
한국공공관리학회 학술대회
2019 .12
-
한국의 경제성장과 외채수준 간 관계 실증연구
무역연구
2015 .01
-
Political Institutions and Debt Dynamics in Developing Countries : Centralization of Power is a Double-Edged Sword
사회과학연구논총
2019 .04
-
The Relationship between Government Debt and Economic Growth in Developing Countries: Evidence from China’s Debt Data
무역연구
2020 .01
-
How Do Firms Choose Their Debt Types?
기업과혁신연구
2023 .09
-
External Debts, Re-Election Possibilities and the Infrastructure Development Via Public Private Partnership: Evidence from Low- and Middle-Income Countries
International Economic Journal
2024 .09
-
External Debt and Growth in Emerging Economies
International Economic Journal
2019 .01
-
Nonlinear Exchange Rate Pass-Through: The Role of National Debt
Global Economic Review
2017 .01
-
Impact of Debts on Economic Growth of Bangladesh: An Application of ARDL M
아태비즈니스연구
2016 .06
-
Public Safe Assets Determination
Global Economic Review
2020 .01
-
Household Debt, Consumption, and Income Inequality
International Economic Journal
2018 .01
-
이익유연화와 부채의 특성
상업교육연구
2021 .01
-
Economic Growth and Public Debt Threshold: New Evidence from An Emerging Economy
Journal of Economic Development
2021 .12
-
An Assessment of Household Debt Repayment Capacities from the Income Perspective
[BOK] Financial Stability Report
2019 .02
-
Current State of Household Debt and Potential Risks in Korea
[BOK] Financial Stability Report
2025 .02
이 논문의 저자 정보
최근 본 자료
댓글(0)
0