Sovereign Risk and Financial Crisis

1. Front Matter

   Pages i-viii

   PDF

2. Sovereign Risk, Politics and the Eurozone Crisis

   • Silvia Pepino

   Pages 1-26

3. An IPE Framework for Sovereign Risk

   • Silvia Pepino

   Pages 27-52

4. Bond Spreads, EMU Design and the Run-up to the Crisis

   • Silvia Pepino

   Pages 53-72

5. The Greek Sovereign Debt Crisis

   • Silvia Pepino

   Pages 73-95

6. The Irish Sovereign Debt Crisis

   • Silvia Pepino

   Pages 96-120

7. The International Political Economy of the Eurozone Sovereign Debt Crisis

   • Silvia Pepino

   Pages 121-140

8. Back Matter

   Pages 141-176

   PDF

This book provides an original and timely insight into the role that the domestic and international political economy played in the Eurozone sovereign debt crisis, combining an innovative theoretical framework with in-depth bond market analysis.

• Euro
• Eurozone
• Greece
• Ireland
• Italy
• Portugal
• FranCe
• Belgium
• Spain
• Germany
• German
• Euro crisis
• EMU
• monetary union
• EMU crisis
• Euro area crisis
• Eurozone crisis
• Greek crisis
• Irish crisis
• sovereign debt crisis
• Euro area
• financial markets
• International Political Economy
• political economy

"Silvia Pepino's arguments are highly appreciable and well-researched. The methodologies that she employs and the empirical evidences that she presents qualify the work to claim an inimitable status." - Rajeesh Kumar, Jawaharlal Nehru University, India

"Sovereign debt crises are relatively rare events, particularly among advanced democracies. In this careful and original study of the pivotal Eurozone crisis, Silvia Pepino shows in detail how domestic and international political factors shape market perceptions of sovereign risk. This book should be read by all those interested in how markets and politics interrelate." - Andrew Walter, University of Melbourne, Australia

"This is an important, as well as obviously timely, advance in our understanding of investor perceptions of sovereign credit risk in general and the Euro area crisis in particular. By demonstrating that the focus of investment analysis can change over time, and broaden as default becomes a possibility, Pepino contributes to a necessary move beyond the developed / emerging market dichotomy." - Iain Hardie, University of Edinburgh, UK

"The North-Atlantic financial crisis of 2007-8 has thrown up new research questions. One such question is how high-income countries within a hard currency area could become the target of speculative financial attacks typical of emerging markets. This book makes a timely and well-researched contribution to answering this question. It provides evidencethat political news played more of a role in these attacks than received wisdom has it." - Waltrauld Schelkle, London School of Economics and Political Science, UK

• Bank of England, UK

  Silvia Pepino

Dr Silvia Pepino is Senior Adviser at the Bank of England, UK. Previously, she worked at JPMorgan and at leading global macro funds. She has frequently been quoted in the international media. She holds a PhD from the London School of Economics and Political Science, the TRIUM MBA degree from New York University-Stern, HEC Paris and the LSE, and an MSc from Bocconi University in Milan.

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