Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/101285
Authors: 
Das, Udaibir S.
Oliva, Maria A.
Tsuda, Takahiro
Year of Publication: 
2012
Series/Report no.: 
ADBI Working Paper Series 383
Abstract: 
We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk cover only partial aspects of sovereign risk and fail to capture its macro-financial dimensions. We highlight a menu of tools that could be used to tackle the broader notion of sovereign risk, and suggest that authorities should actively use them to manage the macro-financial dimensions of sovereign risk before those risks feed into the real economy.
Subjects: 
sovereign risk
default risk
macro-financial dimensions
JEL: 
F30
F34
E43
Document Type: 
Working Paper

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