Extreme bounds of sovereign defaults

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dc.contributor.author Zeaiter, Hussein
dc.contributor.author El-Khalil, Raed
dc.date.accessioned 2016-05-13T12:28:25Z
dc.date.available 2016-05-13T12:28:25Z
dc.date.copyright 2016 en_US
dc.date.issued 2017-04-11
dc.identifier.issn 1059-0560 en_US
dc.identifier.uri http://hdl.handle.net/10725/3776 en_US
dc.description.abstract This paper investigates the determinants of sovereign debt defaults using Leamer's (1983) extreme bounds analysis (EBA). The EBA approach is applied for the indebted countries in the MENA region during the 1970 to 2010 period to determine whether economic and political factors are robust or fragile. This study finds that debt accumulated arrears can be perceived as a signal of default and can warn MENA countries to prevent total failure or at least alleviate the severity of the default. This paper is important for policy makers in the MENA region when seeking to reduce the probability of default. Many recommendations are offered to the indebted MENA countries. For example, they should (1) attract more foreign reserves through adjusting domestic policies and regulations of investment, (2) enact proactive fiscal policies, and (3) fight corruption and promote democracy. en_US
dc.language.iso en en_US
dc.title Extreme bounds of sovereign defaults en_US
dc.type Article en_US
dc.description.version Published en_US
dc.title.subtitle evidence from the MENA region en_US
dc.author.school SOB en_US
dc.author.idnumber 199704790 en_US
dc.author.idnumber 201005172 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.relation.journal International Review of Economics & Finance en_US
dc.journal.volume 41 en_US
dc.article.pages 391-410 en_US
dc.keywords Extreme bounds analysis en_US
dc.keywords MENA indebted countries en_US
dc.keywords Sovereign debt en_US
dc.identifier.doi http://dx.doi.org/10.1016/j.iref.2015.10.003 en_US
dc.identifier.ctation Zeaiter, H., & El-Khalil, R. (2016). Extreme bounds of sovereign defaults: Evidence from the MENA region. International Review of Economics & Finance, 41, 391-410. en_US
dc.author.email hussein.zeaiter@lau.edu.lb en_US
dc.author.email raed.elkhalil@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url http://www.sciencedirect.com/science/article/pii/S1059056015001513 en_US
dc.orcid.id https://orcid.org/0000-0002-2514-1120 en_US

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