Lending Money to the  » Executioners » : the Case of the 1906 Russian Loan (Version préliminaire)
Mardi | 2014-03-25 Salle des thĂšses StĂ©phanie COLLET – Kim OOSTERLINCK The impact of sovereign debt repudiation is relatively well documented. The market reactions to warnings regarding a repudiation have however never been investigated. Are organized protests and the threat of a possible future repudiation perceived as credible by the markets? This paper analyzes the case of the Russian 1906 loan. Protests were staged against the loan which was viewed by the opposition to the autocratic tsarist regime as a […]