Kim Oosterlinck is professor of finance at the Solvay Brussels School of Economics and Management, Université libre de Bruxelles. He lives in Brussels, Belgium.
"Sovereign debt and default are back in the news. As Kim
Ooosterlinck reminds us in his important book, this should not be a
surprise. Earlier defaults, like those of the Bolsheviks,
have cast a long shadow. There is much food for thought here for
financial historians and financial market participants
alike."—Barry Eichengreen, George C. Pardee and Helen N. Pardee
Professor of Economics and Political Science, University of
California, Berkeley
*Barry Eichengreen*
"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
*Rui Esteves*
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