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Democracies and sovereign default
Descriptive
TitleInfo
Title
Democracies and sovereign default
Name
(type = personal)
NamePart
(type = family)
Kupferschmid
NamePart
(type = given)
Sebastian
DisplayForm
Sebastian Kupferschmid
Role
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author
Name
(type = personal)
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(type = family)
Poast
NamePart
(type = given)
Paul
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Paul Poast
Affiliation
Advisory Committee
Role
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(authority = RULIB)
chair
Name
(type = personal)
NamePart
(type = family)
Kaufman
NamePart
(type = given)
Robert R
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Robert R Kaufman
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Advisory Committee
Role
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internal member
Name
(type = personal)
NamePart
(type = family)
Davis
NamePart
(type = given)
Eric M
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Eric M Davis
Affiliation
Advisory Committee
Role
RoleTerm
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internal member
Name
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NamePart
Rutgers University
Role
RoleTerm
(authority = RULIB)
degree grantor
Name
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NamePart
Graduate School - New Brunswick
Role
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school
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Text
Genre
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theses
OriginInfo
DateCreated
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2012
DateOther
(qualifier = exact);
(type = degree)
2012-05
CopyrightDate
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2012
Place
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(type = code)
xx
Language
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(type = code)
eng
Abstract
(type = abstract)
Sovereign defaults are a relatively common feature of (international) financial markets. They highlight the credibility problem in lending to governments: Creditors have no feasible means to enforce repayment of debts. Nevertheless, lending to countries takes place. Existing theories cite domestic representation or international reputation as explanations for ongoing lending. Empirical evidence, however, is mixed. In addition, neither approach manages to include both domestic and external defaults. Building on existing research, a theory that accounts for the differences in between domestic and external defaults and lending is developed, connecting both types to countries' regime types and putting two distinct causal mechanisms -- accountability and transparency -- at the core of the theory. The argument is tested using data covering the past two centuries. Transparency is measured using the availability of military expenditure data, while accountability is measured using the Polity IV data set. A positive relationship in between democracies and transparency is presented. As expected, coefficients for the change in transparency are significant and negative. However, contrary to theoretical expectations, coefficients for transparency itself are positive and significant. The coefficient of accountability yields mixed results. The analysis thus underlines the importance of transparency in explaining international sovereign lending.
Subject
(authority = RUETD)
Topic
Political Science
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Title
Rutgers University Electronic Theses and Dissertations
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ETD
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ETD_3924
PhysicalDescription
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electronic resource
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application/pdf
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Extent
vii, 55 p. : ill.
Note
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M.A.
Note
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Includes bibliographical references
Note
(type = statement of responsibility)
by Sebastian Kupferschmid
Subject
(authority = ETD-LCSH)
Topic
State bankruptcy
Subject
(authority = ETD-LCSH)
Topic
Debts, Public
Subject
(authority = ETD-LCSH)
Topic
International finance
Subject
(authority = ETD-LCSH)
Topic
Economics
Identifier
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http://hdl.rutgers.edu/1782.1/rucore10001600001.ETD.000065178
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Title
Graduate School - New Brunswick Electronic Theses and Dissertations
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rucore19991600001
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NjNbRU
Identifier
(type = doi)
doi:10.7282/T3QZ28XF
Genre
(authority = ExL-Esploro)
ETD graduate
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Rights
RightsDeclaration
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The author owns the copyright to this work.
RightsHolder
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Name
FamilyName
Kupferschmid
GivenName
Sebastian
Role
Copyright Holder
RightsEvent
Type
Permission or license
DateTime
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(point = start)
2012-04-12 13:26:53
AssociatedEntity
Name
Sebastian Kupferschmid
Role
Copyright holder
Affiliation
Rutgers University. Graduate School - New Brunswick
AssociatedObject
Type
License
Name
Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
RightsEvent
DateTime
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2012-05-31
DateTime
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2014-05-31
Type
Embargo
Detail
Access to this PDF has been restricted at the author's request. It will be publicly available after May 31st, 2014.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
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460288
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460800
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