Boone, Peter and Johnson, Simon (2014) Forty years of leverage: what have we learned about sovereign debt? American Economic Review, 104 (5). pp. 266-271. ISSN 0002-8282
Full text not available from this repository.Abstract
Financial crises frequently increase public sector borrowing and threaten some form of sovereign debt crisis. Until recently, high income countries were thought to have become less vulnerable to severe banking crises that have lasting negative effects on growth. Since 2007, crises and attempted reforms in the United States and Europe indicate that advanced countries remain acutely vulnerable. Best practice from developing country experience suggests that regulatory constraints on the financial sector should be strengthened, but this is hard to do in countries where finance has a great deal of political power and cultural prestige, and where leverage is already high.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.aeaweb.org/articles.php?doi=10.1257/aer... |
| Additional Information: | © 2014 American Economic Association |
| Divisions: | LSE |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HG Finance H Social Sciences > HJ Public Finance H Social Sciences > HN Social history and conditions. Social problems. Social reform |
| JEL classification: | G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency; Event Studies |
| Date Deposited: | 12 Jun 2014 16:31 |
| Last Modified: | 12 Dec 2024 00:38 |
| URI: | http://eprints.lse.ac.uk/id/eprint/57056 |
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