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Default and political survival in networked democracies since 1870

Chwieroth, Jeffrey, Simpson, Cohen R. and Walter, Andrew (2015) Default and political survival in networked democracies since 1870. VoxEU.

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Many fear that a Greek default would lead voters elsewhere in Europe to favour default over austerity. This column argues that it is more likely to have the opposite effect. Network interdependencies among countries affect the domestic politics of default because defaults are both rare and vivid. Foreign default increases the propensity for voters to punish their governments for failing to repay external private creditors.

Item Type: Article
Official URL:
Additional Information: © 2015 The Authors
Divisions: International Relations
Systemic Risk Centre
Subjects: H Social Sciences > HB Economic Theory
Sets: Departments > International Relations
Research centres and groups > Systemic Risk Centre
Date Deposited: 23 Sep 2015 08:52
Last Modified: 18 Oct 2021 23:11

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