Public debt and the threat of secession
This paper establishes a model of public debt as a strategic instrument in preventing secession. Using a dynamic game with perfect information, it shows that debt can be used to pre-empt a country’s separation if the seceding region’s potential gain from independence is strictly decreasing in debt....
| Опубликовано в:: | Philippine Review of Economics Vol. LVI, no. 1 & 2 (Jun. 2019 - Dec. 2019), 236-256 |
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| Главный автор: | |
| Формат: | Статья |
| Язык: | English |
| Опубликовано: |
2019
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