Detail The Anatomy of Sovereign Debt Crises : Lessons From The American State Defaults of The 1840s   Oleh:  Sylla, Richard ; Wallis, John Joseph Jenis: Article from Bulletin/Magazine Dalam koleksi: JAPAN AND THE WORLD ECONOMY vol. 10 no. 3 (1998), page 267-294. Topik: debts; sovereign debt crises; state defaults Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ47.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel In theory, sovereign states with taxing powers should not have to default on their debts, but in practice they sometimes do default. In the context of the U. S. state defaults of the 1840 s, the paper draws attention to a neglected factor in explanations of sovereign defaults, namely, revenue structure, or the mix of revenue sources used to fund state expenditures. Constraints of revenue structure interacted with political considerations and economic expectations to cause nine states to default on their debts in the early 1840 s. We identify two cases of default : developed states that chose to default and less developed states that had little choice but to default. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

Copyright © 2006, 2007 Unika Atma Jaya, all rights reserved