Sovereign Debt Crises in Latin America: A Market Pressure Approach

Tjeerd M. Boonman*, Jan P. A. M. Jacobs, Gerard H. Kuper

*Bijbehorende auteur voor dit werk

OnderzoeksoutputAcademicpeer review

2 Citaten (Scopus)
1 Downloads (Pure)


We construct a continuous sovereign debt crisis index for four large Latin American countries for the period 1870-2012. To obtain the optimal set of indicators and the optimal value of the threshold for dating crises we apply the receiver operating characteristic (ROC) curve. Our sovereign debt crisis index is a weighted average of three indicators: the debt-to-GDP ratio, the external interest rate spread, and the exports-to-imports ratio. The continuous index allows a more advanced analysis of sovereign debt crises as illustrated with an investigation of the relationship between sovereign debt crises and business cycles in Latin America.

Originele taal-2English
Pagina's (van-tot)S80-S93
Aantal pagina's14
TijdschriftEmerging Markets Finance and Trade
Nummer van het tijdschriftsupplement 6
StatusPublished - 2015

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