@article{Kohlscheen:271296,
      recid = {271296},
      author = {Kohlscheen, E.},
      title = {Domestic vs. External Sovereign Debt Servicing: An  Empirical Analysis},
      address = {2009},
      number = {2068-2018-2592},
      series = {WERP 904},
      pages = {28},
      year = {2009},
      abstract = {This paper analyzes the incidence of domestic and external  debt crises for a sample of 53 emerging economies between  1980 and 2005. Even though there is substantial time  variation in the default rates during the period, sovereign  default rates for domestic debts are typically lower than  those for external debts. The incidence of both types of  defaults is explained by means of the estimation of  independent and simultaneous limited-dependent variable  models. The results show that while there is considerable  evidence that external defaults trigger domestic defaults,  evidence for the reverse link disappears when default  propensities are estimated in a simultaneous equation  model.},
      url = {http://ageconsearch.umn.edu/record/271296},
      doi = {https://doi.org/10.22004/ag.econ.271296},
}