Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70557
Authors: 
Tomz, Michael
Wright, Mark L. J.
Year of Publication: 
2012
Series/Report no.: 
Working Paper, Federal Reserve Bank of Chicago 2012-06
Abstract: 
The long history of sovereign debt and the associated enforcement problem have attracted researchers in many fields. In this paper, we survey empirical work by economists, historians, and political scientists. As we review the empirical literature, we emphasize parallel developments in the theory of sovereign debt. One major theme emerges. Although recent research has sought to balance theoretical and empirical considerations, there remains a gap between theories of sovereign debt and the data used to test them. We recommend a number of steps that researchers can take to improve the correspondence between theory and data.
Subjects: 
International relations
Sovereign debt
Sovereign default
Political economy
JEL: 
C82
E01
F21
F34
F51
F55
N20
Document Type: 
Working Paper

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