Sovereign risk: A macro-financial perspective

Arbeitspapier

We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk cover only partial aspects of sovereign risk and fail to capture its macro-financial dimensions. We highlight a menu of tools that could be used to tackle the broader notion of sovereign risk, and suggest that authorities should actively use them to manage the macro-financial dimensions of sovereign risk before those risks feed into the real economy.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ADBI Working Paper ; No. 383

Classification and Topics

• Classification: Wirtschaft ; International Finance: General ; International Lending and Debt Problems ; Interest Rates: Determination, Term Structure, and Effects
• Subject: sovereign risk ; default risk ; macro-financial dimensions ; Länderrisiko ; Spillover-Effekt ; Finanzkrise ; Makroökonomischer Einfluss ; Schuldenmanagement ; Welt

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Das, Udaibir S. ; Oliva, Maria A. ; Tsuda, Takahiro
• Event: Veröffentlichung
• (who): Asian Development Bank Institute (ADBI)
• (where): Tokyo
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/101285
• Last update: 10.03.2025, 11:42 AM CET