Abstract:History provides many insights to address the issue of sovereign debt defaults. This article first presents a detailed account of defaults in historical perspective. It then discusses the solution devised in the past to address sovereign debt crises and sets these into perspective with today's answers when crises occur. Finally, the paper stresses the role of history when events under study don't occur frequently and when archival data may add a new light to understand the process of crises resolution. The imp… Show more
scite is a Brooklyn-based startup that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.