The DOI matches its Crossref record; 62 of the 62 references it cites were found in a registry or an index.
The Economics and Law of Sovereign Debt and Default
Abstract
This paper surveys the recent literature on sovereign debt and relates it to the evolution of the legal principles underlying the sovereign debt market and the experience of the most recent debt crises and defaults. It finds limited support for theories that explain the feasibility of sovereign debt based on either external sanctions or exclusion from the international capital market and more support for explanations that emphasize domestic costs of default. The paper concludes that there remains a case for establishing institutions that reduce the cost of default but the design of such institutions is not a trivial task.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Filders, R. (1992) · International Journal of Forecasting · doi:10.1016/0169-2070(92)90130-2 · Cited by 16,165
(2019) · AEA Papers and Proceedings · doi:10.1257/pandp.109.612 · Cited by 10,902
The Twin Crises: The Causes of Banking and Balance-of-Payments Problems
Kaminsky, G. L., & Reinhart, C. M. (1999) · American Economic Review · doi:10.1257/aer.89.3.473 · Cited by 4,978
JOURNAL OF INTERNATIONAL AFFAIRS
(2023) · JOURNAL OF INTERNATIONAL AFFAIRS · doi:10.58710/jia · Cited by 4,586
On the Determination of the Public Debt
Barro, R. J. (1979) · Journal of Political Economy · doi:10.1086/260807 · Cited by 3,268
Debt with Potential Repudiation: Theoretical and Empirical Analysis
Eaton, J., & Gersovitz, M. (1981) · The Review of Economic Studies · doi:10.2307/2296886 · Cited by 2,603
Tornell, A., & Lane, P. R. (1999) · American Economic Review · doi:10.1257/aer.89.1.22 · Cited by 1,448
Growth Dynamics: The Myth of Economic Recovery
Cerra, V., & Saxena, S. C. (2008) · American Economic Review · doi:10.1257/aer.98.1.439 · Cited by 1,356
Default Risk and Income Fluctuations in Emerging Economies
Economies, E., Arellano, C., & Arellano, C. (2007) · Cited by 1,288
Principles of Public International Law
(1973) · International Affairs · doi:10.1093/ia/49.3.455 · Cited by 1,063
Cited by
Growth Dynamics: The Myth of Economic Recovery
Cerra, V., & Saxena, S. C. (2008) · American Economic Review · doi:10.1257/aer.98.1.439 · Cited by 1,356
Systemic sovereign credit risk: Lessons from the U.S. and Europe
Ang, A., & Longstaff, F. A. (2013) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2013.04.009 · Cited by 373
Mallard, G. (2019) · Cambridge University Press · doi:10.1017/9781108570497 · Cited by 49
Metadata
- Authors
- Panizza, U., Sturzenegger, F., & Zettelmeyer, J.
- Venue
- Journal of Economic Literature
- Publisher
- American Economic Association
- Published
- 2009-09-01
- Volume
- 47
- Issue
- 3
- Pages
- 651-698
- ISSN
- 0022-0515 (ISSN-L)
- OpenAlex
- W2103229558
- Cited by
- 559
- References
- 62
- FWCI
- 47.06
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The Economics and Law of Sovereign Debt and Default. https://app.cochat.ai/papers/10.1257/jel.47.3.651
- The paper
- Panizza, U., Sturzenegger, F., & Zettelmeyer, J. (2009). The Economics and Law of Sovereign Debt and Default. Journal of Economic Literature. https://doi.org/10.1257/jel.47.3.651
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
