Hope Springs Eternal: French Bondholders And The Repudiation Of Russian Sovereign Debt

Hardcover | May 24, 2016

byKim OosterlinckTranslated byAnthony Bulger

not yet rated|write a review
In 1918, the Soviet revolutionary government repudiated the Tsarist regime’s sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repayment. Soviet debt recognition, a change in government, a bailout by the French government, or French banks, or a seceding country would have guaranteed at least a partial reimbursement. As Greece and other European countries raise the possibility of sovereign default, Oosterlinck’s superbly researched study is more urgent than ever.

Pricing and Purchase Info

$110.50

In stock online
Ships free on orders over $25

From the Publisher

In 1918, the Soviet revolutionary government repudiated the Tsarist regime’s sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repaym...

Kim Oosterlinck is professor of finance at the Solvay Brussels School of Economics and Management, Université libre de Bruxelles. He lives in Brussels, Belgium.

other books by Kim Oosterlinck

Les agences de notation financière
Les agences de notation financière

Kobo ebook|Aug 26 2013

$64.99

Format:HardcoverDimensions:264 pages, 9.25 × 6.13 × 0.98 inPublished:May 24, 2016Publisher:Yale University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0300190913

ISBN - 13:9780300190915

Look for similar items by category:

Customer Reviews of Hope Springs Eternal: French Bondholders And The Repudiation Of Russian Sovereign Debt

Reviews

Extra Content

Editorial Reviews

"Financial markets are often castigated for having short memory. This book shows that actually hope trumps memory. The history of the 1917 Soviet repudiation of Russian debts is a breathtaking illustration of how markets price political risk, bailout expectations and the effect of sanctions on defaulters. This is an absolute must-read for policymakers, professional investors, researchers or simple observers of the recent financial crisis."--Rui Esteves, University of Oxford