Preview: Sovereign Defaults and Expropriations : Empirical Regularities

Sovereign Defaults and Expropriations : Empirical Regularities

This paper uses a large cross-country dataset to empirically examine factors associated with sovereign defaults on external private creditors and expropriation of foreign direct investments in developing countries since the 1970s. In the long run,...

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Bibliographic Details
Main Authors:	Eden, Maya, Kraay, Aart, Qian, Rong
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	AFFILIATED ORGANIZATIONS ARREARS ARREARS ACCUMULATION ASSETS BANK BORROWERS BILATERAL CREDITORS BONDHOLDERS BREACH OF CONTRACT CAPITAL MARKETS CASE OF DEFAULT CASE OF DEFAULTS CHECKS CLAIM COMMODITY COMMODITY PRICES CONSUMPTION SMOOTHING COUNTRY FIXED EFFECT COUNTRY FIXED EFFECTS CREDITWORTHINESS CURRENCY CURRENCY DEVALUATION DEBT DEBT ACCUMULATION DEBT CRISES DEBT CRISIS DEBT OUTSTANDING DEBT RENEGOTIATION DEBT SERVICING DEBT STOCK DEBTORS DEBTS DEFAULT RISK DEMOCRACY DEPENDENT DEVELOPING COUNTRIES DISBURSEMENTS DIVESTMENT DOLLAR VALUE DUMMY VARIABLE ECONOMIC DEVELOPMENT ECONOMIC SHOCK ENFORCEMENT MECHANISMS EXCESSIVE DEBT EXCESSIVE DEBT ACCUMULATION EXPOSURE EXPROPRIATION EXPROPRIATIONS EXTERNAL DEBT FINANCIAL CRISES FOREIGN ASSETS FOREIGN COMPANIES FOREIGN CREDITORS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN DIRECT INVESTORS FOREIGN ENTERPRISE FOREIGN ENTERPRISES FOREIGN INVESTMENT FOREIGN INVESTORS GOVERNMENT REVENUE GROWTH RATE GROWTH RATES HIGH DEBT IMPLICIT CONTRACTS INCOME INCOME LEVEL INCOME LEVELS INDEBTED INDEBTED POOR COUNTRIES INSURANCE INSURANCE CLAIMS INSURER INSURERS INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL DEBT INTERNATIONAL ECONOMICS INTERNATIONAL MARKET INTERNATIONAL RESERVE INTERNATIONAL TRADE LEGAL MECHANISM LENDERS LEVEL OF DEBT LEVELS OF DEBT LEVY LOW-INCOME COUNTRIES LOWER DEBT MARKET ACCESS MULTILATERAL CREDITORS MULTILATERAL INVESTMENT GUARANTEE AGENCY NATIONAL SECURITY NATURAL RESOURCE NATURAL RESOURCES NPL OIL PRICE OPEN ECONOMY OUTPUT OUTPUT LOSS POLICY RESPONSE POLITICAL ECONOMY POLITICAL RISK POLITICAL RISK INSURANCE POLITICAL SYSTEM PORTFOLIO PRIVATE CREDITORS PRIVATE INVESTMENT PRIVATIZATION PRIVATIZATIONS REMEDY RENEGOTIATION REPAYMENT REPUDIATION REPUTATIONS RESERVE RETURNS RISK OF DEFAULT RISK OF EXPROPRIATION RISK OF EXPROPRIATIONS SECONDARY MARKETS SEIZURES SHORT-TERM DEBT SOVEREIGN DEBT SOVEREIGN DEBT MARKETS SOVEREIGN DEFAULT SOVEREIGN DEFAULTS SOVEREIGN RISK STOCK OF DEBT STOCKS SYSTEMIC RISK THIRD WORLD TIME OF DEFAULT TURNOVER VALUE OF DEBT VOLATILITY
Online Access:	http://documents.worldbank.org/curated/en/2012/10/16793520/sovereign-defaults-expropriations-empirical-regularities http://hdl.handle.net/10986/12055

Sovereign Defaults and Expropriations : Empirical Regularities

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