| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP300 |
| DP300 Dealing with Debt: The 1930s and the 1980s | |
| Richard Portes | |
| 发表日期 | 1989-02-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | This paper summarizes and extends the conclusions of a series of papers on the interwar experience of sovereign borrowing, default and debt readjustment. In explaining the incidence and extent of default, we highlight the importance of a range of factors, both economic and political. We find evidence that countries that interrupted debt service recovered more quickly from the Depression; were able subsequently to render substantially reduced transfers to their creditors; and did not experience access to capital markets in the 1940s and 1950s that was any more restricted than that available to debtors who fully serviced their debts throughout. Attempts at global schemes to short cut protracted bilateral negotiations foundered on disagreements over the funding and control of such schemes, casting doubt on the prospects for such global plans in the 1990s. |
| 主题 | International Macroeconomics |
| 关键词 | Debt International debt Loan default Sovereign borrowing |
| URL | https://cepr.org/publications/dp300 |
| 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/529445 |
| 推荐引用方式 GB/T 7714 | Richard Portes. DP300 Dealing with Debt: The 1930s and the 1980s. 1989. |
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