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Climatic oscillations and sovereign debt crises

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  • Gregory, Richard Paul

Abstract

I present the case for the relationship between climatic oscillations and sovereign debt crisis between 1970 and 2018. I find strong empirical evidence of a relationship between the Antarctic Oscillation, the Madden-Julian Oscillation, the North Atlantic Oscillation, the Pacific North American Pattern, and the Pacific Decadal Oscillation and the incidence of Sovereign Debt Crises. Additionally, the combination of the El Nino Oscillation with the Indian Dipole, the North Atlantic Oscillation and the Pacific North American Pattern are associated with droughts that contributed to Sovereign Debt Crises.

Suggested Citation

  • Gregory, Richard Paul, 2024. "Climatic oscillations and sovereign debt crises," International Review of Economics & Finance, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:reveco:v:95:y:2024:i:c:s1059056024004635
    DOI: 10.1016/j.iref.2024.103471
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