This article examines the potential conflict of interest of underwriters in London's foreign
sovereign debt markets prior to the Baring crisis of 1890. We describe the main sources of …

paper studies sovereign debt crises through the prism of the prima sovereign bond market
and describes the behavior and interactions amo the principal actors in the sovereign bond …

This paper revisits the long studied question on why Governments repay their debts, and
focus on trade reduction in post-default periods. I argue that a main link through which …

This paper analyzes some unexplored implications from the Baring crisis in terms of bilateral
trade, output losses, bailout conditions and investors' returns. We depart from Baring's …

This paper studies two key costs in the issuance of debt on the emerging sovereign bond
market (1993-2007): primary market bond spreads and the fees paid to underwriters. I find …