01653cas a2200253 a 4500 AALejournalIMF005365 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451870961 1018-5941 BD-DhAAL BD-DhAAL Borensztein, Eduardo. The Costs of Sovereign Default / Eduardo Borensztein, Ugo Panizza. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (50 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises. Mode of access: Internet Panizza, Ugo. IMF Working Papers; Working Paper ; No. 2008/238 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/238/001.2008.issue-238-en.xml IMF e-Library