This paper examines how a country's weak institutions and polarized government can affect the likelihood of its default on sovereign debt. Using a data set of 90 countries, it shows that strong institutions are associated with fewer sovereign default crises. In addition, when institutions are weak, a more polarized government tends to default more often. To explain these findings, the author develops a model showing the dynamics between the quality...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2012/03/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5993
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1
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1
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2012/03/01
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Disclosed
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Why do some countries default more often than others ? the role of institutions
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default probability
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Официальная версия документа (может содержать подписи, и т.д.)