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Displaying results 1 to 5 of 5.

  1. The aftermath of sovereign debt crises
    a narrative approach
    Author: Esteves, Rui Pedro; Kenny, Sean; Lennard, Jason
    Published: 2021
    Publisher:  Lund University, Department of Economic History, Lund

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 346
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Lund papers in economic history ; no. 221 (2021)
    Subjects: Business cycles; narrative approach; sovereign debt crises
    Scope: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  2. China as an international lender of last resort
    Author: Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; Trebesch, Christoph
    Published: [2023]
    Publisher:  Kiel Institute for the World Economy, [Kiel]

    This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights into... more

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 3
    Inter-library loan:
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    This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights into China’s growing role in the global financial system. A key finding is that the global swap line network put in place by the People’s Bank of China is increasingly used as a financial rescue mechanism, with more than USD 170 billion in liquidity support extended to crisis countries, including repeated rollovers of swaps coming due. The swaps bolster gross reserves and are mostly drawn by distressed countries with low liquidity ratios. In addition, we show that Chinese state-owned banks and enterprises have given out an additional USD 70 billion in rescue loans for balance of payments support. Taken together, China’s overseas bailouts correspond to more than 20 percent of total IMF lending over the past decade and bailout amounts are growing fast. However, China’s rescue loans differ from those of established international lenders of last resort in that they (i) are opaque, (ii) carry relatively high interest rates, and (iii) are almost exclusively targeted to debtors of China's Belt and Road Initiative. These findings have implications for the international financial and monetary architecture, which is becoming more multipolar, less institutionalized, and less transparent.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271030
    Edition: First draft: March 2023
    Series: Kiel working paper ; no. 2244 (March 2023)
    Subjects: China; financial crises; sovereign debt crises; bailouts; rescue loans; external debt; official lending; hidden debts; sovereign risk; Belt and Road initiative
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  3. The aftermath of sovereign debt crises
    a narrative approach
    Author: Esteves, Rui Pedro; Kenny, Sean; Lennard, Jason
    Published: November 2021
    Publisher:  Economic History Department, London School of Economics and Political Science, London, UK

    Access:
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 783
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Economic history working papers / London School of Economics and Political Science ; no: 334
    Subjects: Business cycles; narrative approach; sovereign debt crises
    Scope: 1 Online-Ressource (circa 86 Seiten), Illustrationen
  4. Quantifying risks to sovereign market access
    methods and challenges
    Author: Zigraiova, Diana; Erce, Aitor; Jiang, Xu
    Published: 2020
    Publisher:  ESM, Luxembourg

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    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 423
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789295085831
    Other identifier:
    Series: Working paper series / European Stability Mechanism ; 42 (2020)
    Subjects: Euro area sovereign bond market; forecasting; sovereign debt crises; sovereign market access; variable selection
    Scope: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  5. China as an international lender of last resort
    Author: Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; Trebesch, Christoph
    Published: 2023
    Publisher:  Kiel Institute for the World Economy (IfW Kiel), Kiel

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