<abstract xmlns="http://www.w3.org/1999/xhtml"><p>While the literature on determinants of sovereign default is voluminous, the links between private indebtedness and the probability of public bankruptcy have not been studied extensively. In this paper we aim to fill this gap and to shed more light on the influence of the size and structure of private debt on sovereign default probability. We focus on developing and emerging market economies over the years 1970–2012. The main conclusions are that both the size and the structure of private borrowings affect the probability of a sovereign default.</p></abstract>

While the literature on determinants of sovereign default is voluminous, the links between private indebtedness and the probability of public bankruptcy have not been studied extensively. In this paper we aim to fill this gap and to shed more light on the influence of the size and structure of private debt on sovereign default probability. We focus on developing and emerging market economies over the years 1970–2012. The main conclusions are that both the size and the structure of private borrowings affect the probability of a sovereign default.

Sovereign default and the structure of private external debt

Central European Economic Journal

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Sovereign default and the structure of private external debt"}

While the literature on determinants of sovereign default is voluminous, the links between private indebtedness and the probability of public bankruptcy have...

Sovereign default and the structure of private external debt

Published Online: May 07, 2019

Page range: 1 - 9

DOI: https://doi.org/10.1515/ceej-2018-0003

Keywords
Private external debt, sovereign default

© 2018 J. Siwińska-Gorzelak, M. Brzozowski, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Sovereign default and the structure of private external debt

Published Online: May 07, 2019

Page range: 1 - 9

DOI: https://doi.org/10.1515/ceej-2018-0003

KeywordsPrivate external debt, sovereign default

© 2018 J. Siwińska-Gorzelak, M. Brzozowski, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
Private external debt, sovereign default