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  1. The aftermath of sovereign debt crises
    a narrative approach
    Autor*in: Esteves, Rui Pedro; Kenny, Sean; Lennard, Jason
    Erschienen: November 2021
    Verlag:  Economic History Department, London School of Economics and Political Science, London, UK

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 783
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Economic history working papers / London School of Economics and Political Science ; no: 334
    Schlagworte: Business cycles; narrative approach; sovereign debt crises
    Umfang: 1 Online-Ressource (circa 86 Seiten), Illustrationen
  2. The aftermath of sovereign debt crises
    a narrative approach
    Autor*in: Esteves, Rui Pedro; Kenny, Sean; Lennard, Jason
    Erschienen: 2021
    Verlag:  Lund University, Department of Economic History, Lund

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 346
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Lund papers in economic history ; no. 221 (2021)
    Schlagworte: Business cycles; narrative approach; sovereign debt crises
    Umfang: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  3. China as an international lender of last resort
    Autor*in: Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; Trebesch, Christoph
    Erschienen: [2023]
    Verlag:  Kiel Institute for the World Economy, [Kiel]

    This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights into... mehr

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 3
    Fernleihe:
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    This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights into China’s growing role in the global financial system. A key finding is that the global swap line network put in place by the People’s Bank of China is increasingly used as a financial rescue mechanism, with more than USD 170 billion in liquidity support extended to crisis countries, including repeated rollovers of swaps coming due. The swaps bolster gross reserves and are mostly drawn by distressed countries with low liquidity ratios. In addition, we show that Chinese state-owned banks and enterprises have given out an additional USD 70 billion in rescue loans for balance of payments support. Taken together, China’s overseas bailouts correspond to more than 20 percent of total IMF lending over the past decade and bailout amounts are growing fast. However, China’s rescue loans differ from those of established international lenders of last resort in that they (i) are opaque, (ii) carry relatively high interest rates, and (iii) are almost exclusively targeted to debtors of China's Belt and Road Initiative. These findings have implications for the international financial and monetary architecture, which is becoming more multipolar, less institutionalized, and less transparent.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/271030
    Auflage/Ausgabe: First draft: March 2023
    Schriftenreihe: Kiel working paper ; no. 2244 (March 2023)
    Schlagworte: China; financial crises; sovereign debt crises; bailouts; rescue loans; external debt; official lending; hidden debts; sovereign risk; Belt and Road initiative
    Umfang: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  4. China as an international lender of last resort
    Autor*in: Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; Trebesch, Christoph
    Erschienen: 2023
    Verlag:  Kiel Institute for the World Economy (IfW Kiel), Kiel

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