This article analyzes the sovereign defaults of the 1930s and reports nine major findings : 1) there is little evidence that financial markets of the 1930s were unsophisticated; 2) debt default in the 1930s depended on a combination of factors, including the magnitude of external shock, the level of debt, and the economic policy response; 3) countries that interrupted service recovered more quickly from the Great Depression than did countries that...
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INFORMATION
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1990/01/31
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Article de revue
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14148
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1
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1
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2001/04/27
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Disclosed
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The interwar debt crisis and its aftermath
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bond
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