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Kim Oosterlinck - Hope Springs Eternal, Inbunden

Inbunden, Engelska, 2016

Hope Springs Eternal

French Bondholders and the Repudiation of Russian Sovereign Debt

Av Kim Oosterlinck

Del i serien Yale Series in Economic and Financial History

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Beskrivning
In 1918, the Soviet revolutionary government repudiated the Tsarist regime’s sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repayment. Soviet debt recognition, a change in government, a bailout by the French government, or French banks, or a seceding country would have guaranteed at least a partial reimbursement. As Greece and other European countries raise the possibility of sovereign default, Oosterlinck’s superbly researched study is more urgent than ever.
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Kim Oosterlinck is professor of finance at the Solvay Brussels School of Economics and Management, Université libre de Bruxelles. He lives in Brussels, Belgium.

Recensioner i media

"Sovereign debt and default are back in the news.  As Kim Ooosterlinck reminds us in his important book, this should not be a surprise.  Earlier defaults, like those of the Bolsheviks, have cast a long shadow. There is much food for thought here for financial historians and financial market participants alike."—Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley

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