{"id":"https://openalex.org/W123376444","doi":"https://doi.org/10.1111/jmcb.12341","title":"Like Father Like Sons? The Cost of Sovereign Defaults in Reduced Credit to the Private Sector","display_name":"Like Father Like Sons? The Cost of Sovereign Defaults in Reduced Credit to the Private Sector","publication_year":2016,"publication_date":"2016-09-15","ids":{"openalex":"https://openalex.org/W123376444","doi":"https://doi.org/10.1111/jmcb.12341","mag":"123376444"},"language":"en","primary_location":{"id":"doi:10.1111/jmcb.12341","doi":"https://doi.org/10.1111/jmcb.12341","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jmcb.12341","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jmcb.12341","source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit and Banking","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jmcb.12341","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5051348531","display_name":"Rui Pedro Esteves","orcid":"https://orcid.org/0000-0002-1966-7214","observed_orcids":["https://orcid.org/0000-0002-1966-7214"]},"institutions":[{"id":"https://openalex.org/I40120149","display_name":"University of Oxford","ror":"https://ror.org/052gg0110","country_code":"GB","type":"education","lineage":["https://openalex.org/I40120149"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"RUI ESTEVES","raw_affiliation_strings":["Austria-Hungary","University of Oxford , Department of Economics , Manor Road Building , OX1 3UQ , Oxford , UK","University of Oxford"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Austria-Hungary","institution_ids":[]},{"raw_affiliation_string":"University of Oxford , Department of Economics , Manor Road Building , OX1 3UQ , Oxford , UK","institution_ids":["https://openalex.org/I40120149"]},{"raw_affiliation_string":"University of Oxford","institution_ids":["https://openalex.org/I40120149"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5005706928","display_name":"Jo\u00e3o Tovar Jalles","orcid":"https://orcid.org/0000-0002-7171-5076","observed_orcids":["https://orcid.org/0000-0002-7171-5076"]},"institutions":[{"id":"https://openalex.org/I1288051870","display_name":"Organisation de Coop\u00e9ration et de D\u00e9veloppement Economiques","ror":"https://ror.org/0438wbg98","country_code":"FR","type":"government","lineage":["https://openalex.org/I1288051870"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"JO\u00c3O TOVAR JALLES","raw_affiliation_strings":["Economist, OECD, Economics Department, 2, rue Andr\u00e9 Pascal -75775 Paris Cedex"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economist, OECD, Economics Department, 2, rue Andr\u00e9 Pascal -75775 Paris Cedex","institution_ids":["https://openalex.org/I1288051870"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":3800,"currency":"USD","value_usd":3800},"apc_paid":null,"fwci":2.2141,"has_fulltext":true,"cited_by_count":21,"citation_normalized_percentile":{"value":0.88304829,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"48","issue":"7","first_page":"1515","last_page":"1545"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9854000210762024,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9854000210762024,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.006599999964237213,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.0017999999690800905,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/sovereign-default","display_name":"sovereign default","score":0.9300000071525574},{"id":"https://openalex.org/keywords/credit-rationing","display_name":"credit rationing","score":0.9419999718666077},{"id":"https://openalex.org/keywords/private-sector-credit","display_name":"private sector credit","score":0.6620000004768372},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.6890000104904175},{"id":"https://openalex.org/keywords/foreign-capital","display_name":"foreign capital","score":0.5809999704360962},{"id":"https://openalex.org/keywords/spillover-effects","display_name":"spillover effects","score":0.7059999704360962},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.75},{"id":"https://openalex.org/keywords/early-20th-century","display_name":"early 20th century","score":0.7059999704360962}],"concepts":[{"id":"https://openalex.org/C69637215","wikidata":"https://www.wikidata.org/wiki/Q702362","display_name":"Default","level":2,"score":0.9026459455490112},{"id":"https://openalex.org/C121426985","wikidata":"https://www.wikidata.org/wiki/Q591763","display_name":"Private sector","level":2,"score":0.5936543941497803},{"id":"https://openalex.org/C2778782394","wikidata":"https://www.wikidata.org/wiki/Q1092023","display_name":"Sovereign default","level":5,"score":0.5864830613136292},{"id":"https://openalex.org/C55527203","wikidata":"https://www.wikidata.org/wiki/Q334194","display_name":"Spillover effect","level":2,"score":0.5642930865287781},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.5389761328697205},{"id":"https://openalex.org/C2778137473","wikidata":"https://www.wikidata.org/wiki/Q1787079","display_name":"Credit rationing","level":3,"score":0.5154155492782593},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5024905204772949},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5011506080627441},{"id":"https://openalex.org/C2777063073","wikidata":"https://www.wikidata.org/wiki/Q1553237","display_name":"Settlement (finance)","level":3,"score":0.4909398853778839},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4432045519351959},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.43953660130500793},{"id":"https://openalex.org/C186229450","wikidata":"https://www.wikidata.org/wiki/Q42008","display_name":"Sovereignty","level":3,"score":0.3470703959465027},{"id":"https://openalex.org/C2994482091","wikidata":"https://www.wikidata.org/wiki/Q12695","display_name":"Sovereign debt","level":4,"score":0.31408095359802246},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30327117443084717},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.28943249583244324},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.10135552287101746},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.10114482045173645},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.07465365529060364},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.1111/jmcb.12341","doi":"https://doi.org/10.1111/jmcb.12341","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jmcb.12341","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jmcb.12341","source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit and Banking","raw_type":"journal-article"},{"id":"pmh:oai:repository.graduateinstitute.ch:296112","doi":null,"is_oa":false,"landing_page_url":"https://repository.graduateinstitute.ch/record/296112/files/Esteves_Like_father_like_sons.pdf","pdf_url":"https://repository.graduateinstitute.ch/record/296112/files/Esteves_Like_father_like_sons.pdf","source":{"id":"https://openalex.org/S4306402451","display_name":"Graduate Institute Geneva Institutional Repository (Graduate Institute of International and Development Studies)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I951315","host_organization_name":"Graduate Institute of International and Development Studies","host_organization_lineage":["https://openalex.org/I951315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://repository.graduateinstitute.ch/record/296112","raw_type":"Text"},{"id":"mag:3121601752","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2210274","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3124531136","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:cpr:ceprdp:9303","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:cpr:ceprdp:9303","doi":null,"is_oa":false,"landing_page_url":"http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=9303","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:wly:jmoncb:v:48:y:2016:i:7:p:1515-1545","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1111/jmcb.12341","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1111/jmcb.12341","doi":"https://doi.org/10.1111/jmcb.12341","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jmcb.12341","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jmcb.12341","source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit and Banking","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions","score":0.47620001435279846}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W123376444.pdf","grobid_xml":"https://content.openalex.org/works/W123376444.grobid-xml"},"referenced_works_count":120,"referenced_works":["https://openalex.org/W85304251","https://openalex.org/W395157350","https://openalex.org/W585944786","https://openalex.org/W604189929","https://openalex.org/W635105328","https://openalex.org/W644623721","https://openalex.org/W656414328","https://openalex.org/W656780535","https://openalex.org/W1480167360","https://openalex.org/W1480626585","https://openalex.org/W1483469024","https://openalex.org/W1495656322","https://openalex.org/W1498248246","https://openalex.org/W1504257592","https://openalex.org/W1505294196","https://openalex.org/W1527251845","https://openalex.org/W1528857264","https://openalex.org/W1535928365","https://openalex.org/W1564555833","https://openalex.org/W1565026356","https://openalex.org/W1606377008","https://openalex.org/W1647152515","https://openalex.org/W1909468230","https://openalex.org/W1910493590","https://openalex.org/W1970944760","https://openalex.org/W1971950549","https://openalex.org/W1972020967","https://openalex.org/W1978470065","https://openalex.org/W1979197894","https://openalex.org/W1985951708","https://openalex.org/W1986299497","https://openalex.org/W1997355581","https://openalex.org/W1997819849","https://openalex.org/W2003112195","https://openalex.org/W2003433356","https://openalex.org/W2014242250","https://openalex.org/W2016525519","https://openalex.org/W2025610165","https://openalex.org/W2033741448","https://openalex.org/W2035554302","https://openalex.org/W2044758663","https://openalex.org/W2049633694","https://openalex.org/W2054359335","https://openalex.org/W2056011336","https://openalex.org/W2057869900","https://openalex.org/W2072624950","https://openalex.org/W2072763257","https://openalex.org/W2080627050","https://openalex.org/W2089763487","https://openalex.org/W2096756733","https://openalex.org/W2099483951","https://openalex.org/W2103242721","https://openalex.org/W2103803468","https://openalex.org/W2107639478","https://openalex.org/W2110481055","https://openalex.org/W2110787586","https://openalex.org/W2111630078","https://openalex.org/W2114094646","https://openalex.org/W2117709022","https://openalex.org/W2123536394","https://openalex.org/W2128385950","https://openalex.org/W2129358235","https://openalex.org/W2129680597","https://openalex.org/W2134246329","https://openalex.org/W2138512308","https://openalex.org/W2143067489","https://openalex.org/W2144357229","https://openalex.org/W2147094701","https://openalex.org/W2151737363","https://openalex.org/W2151959397","https://openalex.org/W2159992130","https://openalex.org/W2160878917","https://openalex.org/W2163191072","https://openalex.org/W2168186672","https://openalex.org/W2169483380","https://openalex.org/W2233151521","https://openalex.org/W2481064525","https://openalex.org/W2483216220","https://openalex.org/W2488393214","https://openalex.org/W2506072466","https://openalex.org/W2515786359","https://openalex.org/W2570512082","https://openalex.org/W2571313764","https://openalex.org/W2616170550","https://openalex.org/W2760442026","https://openalex.org/W2896237777","https://openalex.org/W2915445197","https://openalex.org/W2917153928","https://openalex.org/W2924744787","https://openalex.org/W2954469345","https://openalex.org/W2964815304","https://openalex.org/W3022987229","https://openalex.org/W3025456383","https://openalex.org/W3121383591","https://openalex.org/W3121403162","https://openalex.org/W3123093906","https://openalex.org/W3123324367","https://openalex.org/W3123561954","https://openalex.org/W3123661969","https://openalex.org/W3123741870","https://openalex.org/W3123961942","https://openalex.org/W3124088284","https://openalex.org/W3124324198","https://openalex.org/W3124385268","https://openalex.org/W3124453937","https://openalex.org/W3124605126","https://openalex.org/W3124636723","https://openalex.org/W3124748268","https://openalex.org/W3125059016","https://openalex.org/W3125739508","https://openalex.org/W3125972976","https://openalex.org/W3126027997","https://openalex.org/W3179232592","https://openalex.org/W3197494818","https://openalex.org/W3214765007","https://openalex.org/W4205327471","https://openalex.org/W4232755439","https://openalex.org/W4233234366","https://openalex.org/W4243563432","https://openalex.org/W6676489096"],"related_works":["https://openalex.org/W2286451141","https://openalex.org/W3123668326","https://openalex.org/W7100953800","https://openalex.org/W1979197894","https://openalex.org/W1564555833","https://openalex.org/W1976528006","https://openalex.org/W3009678785","https://openalex.org/W3123557155","https://openalex.org/W2994973406","https://openalex.org/W3124857781"],"abstract_inverted_index":{"We":[0,21,39],"investigate":[1],"the":[2,8,11,23,33,46,74],"impact":[3],"of":[4,10,48],"sovereign":[5,26],"defaults":[6,27],"on":[7],"ability":[9],"corporate":[12],"sector":[13,35,79],"in":[14,50],"emerging":[15,51],"nations":[16,52],"to":[17],"finance":[18],"itself":[19],"abroad.":[20],"test":[22],"hypothesis":[24],"that":[25,53,63],"have":[28],"a":[29,41,81],"negative":[30,90],"spillover":[31],"onto":[32],"private":[34,78],"through":[36],"credit":[37,64],"rationing.":[38],"explore":[40],"novel":[42],"data":[43],"set":[44],"covering":[45],"majority":[47],"corporates":[49],"received":[54],"foreign":[55],"capital":[56],"between":[57],"1880":[58],"and":[59,70],"1913.":[60],"Results":[61],"confirm":[62],"rationing":[65],"existed,":[66],"was":[67],"very":[68],"large,":[69],"persisted":[71],"long":[72],"beyond":[73],"default":[75],"settlement.":[76],"The":[77],"paid":[80],"severe":[82],"cost":[83],"for":[84,92],"their":[85,93],"governments\u2019":[86],"debt":[87],"intolerance,":[88],"with":[89],"implications":[91],"growth.":[94]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":3},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
