Publications
- Sovereign Debt Disputes: A Database on Government Coerciveness During Debt Crises
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- by Enderlein, Henrik; Trebesch, Christoph ; von Daniels, Laura
- This paper measures “debt disputes” between governments and
foreign private creditors in periods of sovereign debt crises. We
construct an index of government coerciveness, consisting of 9
objective sub-indicators. Each of these sub-indicators captures
unilateral government actions imposed on foreign banks and
bondholders. The results provide the first systematic account of
debt crises that goes beyond a binary categorization of default
versus non-default. Overall, government behavior and rhetoric
show a strong variability, ranging from highly confrontational to
very smooth crisis resolution processes. In a preliminary analysis
on the determinants of coercive behavior, we find political institutions
to be significant, while economic and financial factors play
a lesser role. These results open up an agenda for future research.
- Publication Type: Published Paper
- Publisher: Journal of International Money and Finance
- Published Date: December 2011
- Field of Interest: International Economics
- von Daniels, Laura. "Sovereign Debt Disputes: A Database on Government Coerciveness During Debt Crises." Journal of International Money and Finance, 1-17, 2011.
