search query: @author Sinyagina-Woodruff, Y. / total: 1
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| Author: | Sinyagina-Woodruff, Y. |
| Title: | Russia, Sovereign Default, Reputation and Access to Capital Markets |
| Journal: | Europe-Asia Studies
2003 : JUN, VOL. 55:4, p. 521-552 |
| Index terms: | RUSSIA DEFAULTS CAPITAL MARKETS |
| Language: | eng |
| Abstract: | The article is divided into four sections. In the first, author review existing theoretical and empirical studies of sovereign borrowing, focusing on the weakness of the theoretical arguments about reputation, especially in light of empirical evidence on the behaviour of international capital markets. The second section gives a summary of the sovereign debt history of the USSR and contemporary Russia, demonstrating how easily the country was able to return to capital markets despite its revolutionary repudiation of tsarist debts. The third section provides a more detailed examination of the post-Soviet period. The final section draws some conclusions about prospects for theories of sovereign debt. |
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