This paper uses model averaging techniques to identify robust predictors of sovereign default episodes on a pooled database for 46 emerging economies over the period 1980-2004. Sovereign default episodes are defined according to Standard & Poor’s or by non-concessional International Monetary Fund loans in excess of 100 percent of the country’s quota. The authors find that, in addition to the level of indebtedness, the quality of policies and institutions...
انظر المزيد
تفاصيل
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2010/8/01
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ورقة عمل خاصة ببحوث السياسات
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WPS5401
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1
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1
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2010/8/16
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Disclosed
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Unpleasant surprises : sovereign default determinants and prospects
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sovereign default