Ghosal, S. and Thomas, D. (2023) Informal creditors and sovereign debt restructuring. Indian Economic Review, 58(Sup 1), pp. 211-226. (doi: 10.1007/s41775-023-00158-z) (PMID:36855646) (PMCID:PMC9951168)
![[img]](https://eprints.gla.ac.uk/style/images/fileicons/text.png) |
Text
290003.pdf - Published Version Available under License Creative Commons Attribution. 1MB |
Abstract
A conventional view of sovereign debt restructuring suggests that costly sovereign debt restructuring is required to lower the interest rate charged on it. In the presence of a negative external shock, under certain conditions, we show that (a) debt restructuring leads to interim social welfare gains and ex ante efficiency gains, (b) participation by citizens will lead to efficient debt restructuring. Using our results, we discuss provide a normative case for the proposed UNCTAD Roadmap.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Thomas, Dr Dania and Ghosal, Professor Sayantan |
| Authors: | Ghosal, S., and Thomas, D. |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics College of Social Sciences > Adam Smith Business School > Management |
| Journal Name: | Indian Economic Review |
| Publisher: | Springer |
| ISSN: | 0019-4670 |
| ISSN (Online): | 2520-1778 |
| Published Online: | 24 February 2023 |
| Copyright Holders: | Copyright © 2023 The Authors |
| First Published: | First published in Indian Economic Review 58(Sup 1):211-226 |
| Publisher Policy: | Reproduced under a Creative Commons license |
University Staff: Request a correction | Enlighten Editors: Update this record
Deposit and Record Details
Deposit and Record Details