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- D1 - Transnational Public Private Partnerships
- D2 - Fostering Regulation through Corporate Social Responsibility
- D3 - Green Companies in Newly Industrializing Countries
- D4 - Private Sector Involvement in Sovereign Debt Crisis
- D5 - Cooperation Networks and Local Forms of Governance
- D6 - Financial development through remittances
+++ New research agenda 2010-2013 +++
In 2010-2013, the project will focus on legal conflicts between sovereign states and private creditors in the context of debt crises and debt relief initiatives. Part one analyzes the determinants of creditor litigation, in particular whether “weak states” are more likely to be sued by foreign banks or investors. Part two then investigates the consequences of such legal action by creditors, specifically how litigation constrains governments in providing public goods in a crisis context.
Detailed project proposal here
Project 2006-2009: Providing Macro-Economic Stability: The Politics of Private Sector Involvement in Sovereign Debt Crises
Aim of the Research Project
This research project investigates the interaction between governments and international private creditors in periods of sovereign debt crises. Concretely, the project poses the following research questions:
(1) Which domestic and systemic determinants influence the process and outcome of debtor-creditor negotiations in sovereign debt crises? Why do some governments show a cooperative stance during crises while others not?
(2) What is the impact of different types of government behaviour for the resolution of sovereign debt crises?
Methodology and Research Agenda
The research will be quantitative and qualitative, involving both econometric analysis and indepth case studies. A main goal in the first project phase is to collect data to categorize and quantify government behaviour and the negotiation process of past debt crises. We aim to construct an index on government behaviour during debt crises which will then be used in cross-country regressions including a broad set of economic and institutional variables. The case studies on prominent crisis episodes will help to validate our findings and reveal causal mechanisms in sovereign debt bargains.
Research Team
Henrik Enderlein (Coordinator), Prof. of Political Economy, Hertie School of Governance
Laura von Daniels, Researcher and PhD candidate in Political Science
Christoph Trebesch, Researcher and PhD candidate in Economics
Andreea Firca, Student research assistant
Said-Khalid Scharaf, Student research assistant
NEW PAPERS
Enderlein, Henrik, Müller, Laura und Trebesch, Christoph (2009) "Democracies Default Differently. Regime Type and Sovereign Debt Crisis Resolution." May 2009.
Enderlein, Henrik, Müller, Laura und Trebesch, Christoph (2008) "Debt Disputes: Measuring Government Coerciveness in Sovereign Debt Crises." July 2008.
Trebesch, Christoph (2009) "The Cost of Aggressive Sovereign Debt Policies: How Much is the Private Sector Affected?" IMF Working Paper 29/09, Februar 2009.
Trebesch, Christoph (2009) "Delays in Sovereign Debt Restructurings. Should We Really Blame the Creditors?" September 2009.
