How Governments Borrow: Partisan Politics, Constrained Institutions, and Sovereign Debt in Emerging Markets...

— —

Ben Cormier (Lecturer and Chancellor's Fellow, Lecturer and Chancellor's Fellow, University of Strathclyde)

How Governments Borrow

Partisan Politics, Constrained Institutions, and Sovereign Debt in Emerging Markets

Ben Cormier (Lecturer and Chancellor's Fellow, Lecturer and Chancellor's Fellow, University of Strathclyde)

$212

Hardback

Not in-store but you can order this
How long will it take?

Availability Information

We source books from suppliers in Australia and overseas. For books we don't currently have in stock, the time it takes to get them from our suppliers can vary widely - from a few days to a few months - so we check each book with each supplier to determine the expected time it will take to be supplied to us.

We then advise you accordingly. If the time taken to get any book is too long for you, you can let us know and we will cancel or adjust your order, and refund as required.

To find out the anticipated arrival time for specific items prior to ordering, please contact us by phone or email:

Phone +61 2 9264 3111, or 1800 4 BOOKS (1800 4 26657) if outside Sydney:
option 1 Abbey's Bookshop (Crime, History, Science, Kids & more) • info@abbeys.com.au
option 2 Language Book Centre (ESL & Foreign Languages) • language@abbeys.com.au
option 3 Galaxy Bookshop (Sci-fi, Fantasy, Romance, Graphic Novels) • sf@galaxybooks.com.au

QTY:

English

Oxford University Press
23 May 2024

Political science & theory; International economics; Political economy

How Governments Borrow reveals how annual borrowing decisions are informed by domestic politics. The book traces the annual fiscal policymaking process in Emerging Markets (EM) to show how a government's partisan policy preferences are a primary determinant of annual external borrowing decisions and thus patterns of debt accumulation. That sovereign debt composition has partisan political roots provides insights for scholars in political science, international relations, economics, sociology, and public administration that work on sovereign debt.

Sovereign debt composition enhances or limits the capacity of an EM government to contribute to social and economic development. Many EMs depend on foreign currency debt. How much external debt an EM government owes, the cost of that debt, the maturity of that debt, and the conditions attached to that debt all determine the political and economic opportunities and risks associated with a government's borrowings. EMs borrow from different sources each year, leading them to build different sovereign debt structures over time. Some prioritize cheap yet conditional official credit, which constrains policy autonomy but enhances debt sustainability. Others prioritize comparatively expensive bond markets, which enhances policy autonomy but brings more expensive repayment obligations on to national balance sheets. As countries accumulate debt, the borrowing choices they make come to have important effects on fiscal space, debt sustainability, and development.

By: Ben Cormier (Lecturer and Chancellor's Fellow Lecturer and Chancellor's Fellow University of Strathclyde)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Dimensions: Height: 240mm, Width: 160mm, Spine: 20mm
Weight: 442g
ISBN: 9780198882732
ISBN 10: 0198882734
Pages: 192
Publication Date: 23 May 2024
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

1: Introduction 2: Partisan Politics and Constrained Institutions: A Model of Sovereign Debt Accumulation in Emerging Markets 3: Testing the Partisan Model 4: South Africa & Botswana 5: Peru 6: Thailand 7: Conclusion References Appendix

Ben Cormier is a Lecturer and Chancellor's Fellow at the University of Strathclyde School of Government and Public Policy. He works on the international political economy of finance and development, interested in sovereign debt, financial markets, capital flows, aid flows, loan conditions, government transparency, and international organizations.

Reviews for How Governments Borrow: Partisan Politics, Constrained Institutions, and Sovereign Debt in Emerging Markets

How Governments Borrow provides an illuminating journey into unexplored realms of sovereign debt in emerging markets. It brilliantly combines quantitative and qualitative evidence to unveil how governments strategically shape borrowing decisions, shifting the lens from the supply to the demand side. A must read for academics and practitioners alike, Cormier skillfully challenges conventional notions, providing a nuanced understanding of how political forces influence economic governance in the realm of sovereign debt. * Axel Dreher, Chair of International and Development Politics, Heidelberg University *