IDEAS home Printed from https://ideas.repec.org/a/cup/reveco/v35y2017i01p81-104_00.html
   My bibliography  Save this article

The Economic Impact Of Sovereign Defaults In Latin America 1870-2012

Author

Listed:
  • Boonman, Tjeerd Menno

Abstract

This article analyzes sovereign debt defaults in four Latin American countries—Argentina, Brazil, Chile and Mexico—for the period 1870-2012. The impact of sovereign defaults on real GDP growth is generally short-lived, while the impact in terms of output losses is deep and lasts long. Defaults in the period 1972-2012 show a deep and long-lasting impact compared to defaults in earlier periods. Moreover, the length of the contraction that follows a default is associated with favourable international conditions in the run-up to a default, while the depth of the contraction is associated with an expansive domestic economy in the run-up to a default. The results fit with boom–bust theories and sudden stop models.

Suggested Citation

  • Boonman, Tjeerd Menno, 2017. "The Economic Impact Of Sovereign Defaults In Latin America 1870-2012," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 35(1), pages 81-104, March.
    • Handle: RePEc:cup:reveco:v:35:y:2017:i:01:p:81-104_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0212610916000136/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:reveco:v:35:y:2017:i:01:p:81-104_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/rhe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.