
Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets »
Journal Issue
Volume/Issue: 2010/10
Series: IMF Working Papers
Author(s): Udaibir Das , Michael Papaioannou , and Christoph Trebesch
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2010
DOI: http://dx.doi.org/10.5089/9781451961942.001
ISBN: 9781451961942
Keywords: Sovereign default, Private sector access, capital markets, external borrowing, sovereign defaults,
Top down spillovers of sovereign default risk can have serious consequences for the private sector in emerging markets. This paper analyzes the effects of these spillovers using firm-level data from 31 emerging mar...