| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13202 |
| DP13202 Rare Disasters, Financial Development, and Sovereign Debt | |
| Sérgio Rebelo; Neng Wang; Jinqiang Yang | |
| 发表日期 | 2018-09-24 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We propose a model of sovereign debt in which countries vary in their level of financial development, defined as the extent to which they can issue debt denominated in domestic currency in international capital markets. We show that low levels of financial development generate the "debt intolerance'' phenomenon that plagues emerging markets: it reduces overall debt capacity, increases credit spreads, and limits the country's ability to smooth consumption. |
| 主题 | Financial Economics ; International Macroeconomics and Finance |
| 关键词 | Sovereign debt Financial development |
| URL | https://cepr.org/publications/dp13202-1 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542005 |
| 推荐引用方式 GB/T 7714 | Sérgio Rebelo,Neng Wang,Jinqiang Yang. DP13202 Rare Disasters, Financial Development, and Sovereign Debt. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
