Negotiations to restructure sovereign debt are protracted affairs, and their outcomes, known
as “haircuts,” range from 0 to 80 percent creditor losses. Haircuts impact states' ability to …

Conventional wisdom claims that reputation leads sovereign states to full debt repayment.
However, defaults are recurrent, some debtor countries take a lot of time to end them, and …

How do indebted governments restructure their debts with private creditors? What explains
variation in indebted states' negotiating behavior? Existing explanations of debt restructuring …

What determines government access to capital? Conventional explanations of state credit
access rest on tenuous assumptions and fail to fully elucidate market behavior seen in …

Sovereign default is a political decision. While previous research on sovereign credit
markets focuses on economic causes, domestic constraints, or international reputation to …

Central bank independence (CBI) has been understood to originate in domestic political
commitments to tackle inflation and government profligacy. But recent studies demonstrate …

How does domestic politics affect sovereign credit risk? To date, scholars have largely
focused on how economic interests along class-cleavages influence sovereign default risk …

Central bank independence (CBI) is at risk around the world. The confluence of populism,
nationalism and acute economic distress is making CBI harder to maintain. However, it …

Scholars continue to debate why states repay their debts to foreign creditors. The existing
literature stresses the short-term economic and political costs that deter default, focusing on …

INTRODUCTION" 60 percent of low-income countries are at high risk or already in debt
distress" with" economic collapse" increasingly likely without" debt restructurings," the …