"Rückzahlung." . . "European University Institute (EUI) (Florence). Robert Schuman Centre for Advanced Studies." . . "Commerce international." . . "Gravitationsmodell" . . "Comerç internacional." . . "Insolvenz" . . "Umschuldung" . . . "This paper estimates the effect of sovereign debt renegotiation on international trade. Sovereign default may be associated with a subsequent decline in international trade either because creditors want to deter default by debtors, or because trade finance dries up after default. To estimate the effect, an empirical gravity model of bilateral trade is used, and a large panel data set covering fifty years and more than 200 trading partners. The model controls for a host of factors that influence bilateral trade flows, including the incidence of International Monetary Fund programs. Using the dates of sovereign debt renegotiations conducted through the Paris Club as a proxy measure for sovereign default, it appears that renegotiation is associated with an economically and statistically significant decline in bilateral trade between a debtor and its creditors. The decline in bilateral trade is approximately 8 percent a year and persists for about fifteen years."@en . . . . . . . "Publication UE/CE"@en . . . . . . . . . . "One reason countries pay their debts renegotiation and international trade" . "One reason countries pay their debts renegotiation and international trade"@en . . . . . . . "One Reason Countries Pay their Debts Renegotiation and International Trade"@en . "One Reason Countries Pay their Debts Renegotiation and International Trade" . . . . . . . "\"This paper estimates the effect of sovereign debt renegotiation on international trade. Sovereign default may be associated with a subsequent decline in international trade either because creditors want to deter default by debtors, or because trade finance dries up after default. To estimate the effect, I use an empirical gravity model of bilateral trade and a large panel data set covering fifty years and more than 200 trading partners. The model controls for a host of factors that influence bilateral trade flows, including the incidence of International Monetary Fund programs. Using the dates of sovereign debt renegotiations conducted through the Paris Club as a proxy measure for sovereign default, I find that renegotiation is associated with an economically and statistically significant decline in bilateral trade between a debtor and its creditors. The decline in bilateral trade is approximately 8 percent a year and persists for about fifteen years\"--Federal Reserve Bank of New York web site." . . . . . . . . . . "One Reason Countries Pay their Debts : Renegotiation and International Trade" . . . . . . . . . . . . . "One reason countries pay their debts: renegotiation and iternational trade" . . "One reason countries pay their debts : renegotiation and internal trade" . . . "One reason countries pay their debts : Renegotiation and international trade"@en . . . . "Texte intégral"@en . . . . . . . . . . . . . . . . . . . "One reason countries pay their debts" . "One reason countries pay their debts : renegotiation and international trade" . "One reason countries pay their debts : renegotiation and international trade"@en . . . . . . . . . . . . . . . . . . . "Publication internationale"@en . . . . . . "One reason countries pay their debts: renegotiation and international trade" . . . . . "Ressource internet"@en . . . . "Centre for Economic Policy Research, London (GB)" . . "Economics, economic history and consumer affairs." . . "Welt" . . "Deute exterior." . . "Relations bilatérales." . . "Modèles économétriques." . . "Dette extérieure." . . "Außenwirtschaft" . . "International commerce, marketing and economics." . . "Dettes Allègement." . . "Comercio internacional Modelos econométricos." . . "Entwicklungsländer." . . "Auslandsschulden." . . . . "Schätzung" . . "Banking and finance." . . "Préstamos en moneda extranjera." . . "National Bureau of Economic Research" . . "Deuda exterior." . . "Umschuldung / Außenwirtschaft / Zahlungsunfähigkeit / Gravitationsmodell / Schätzung / Welt." . . "Incumplimiento (Finanzas)" . . "Electronic documents." . . "Comercio internacional." . . "Zonder onderwerpscode: economie." . . "Comercio internacional y crecimiento económico." . . "Robert Schuman Centre. Programme in Economic Policy." . . "Dettes extérieures." . . "Alivio de la deuda." . . "Centre for Economic Policy Research (Gran Bretaña)" . .