The Concept of Sovereign Insolvency with Special Focus on India

32 Pages Posted: 19 Aug 2014 Last revised: 20 Aug 2014

Date Written: March 7, 2014

Abstract

Can a country go bankrupt? The past has been dynamic with world witnessing many countries falling off grace. Why a country goes bankrupt? What is the economics and politics behind the concept of "sovereign bankruptcy"? How do countries protect themselves against sovereign bankruptcy? Which all countries in the past went bankrupt and why did they go bankrupt? Is India moving towards bankruptcy and if so, then why? What measures India can take to safeguard itself from falling off grace? What future beholds for India so far as "sovereign bankruptcy" is concerned?

The Researcher in this research paper attempts to answer some of these fundamental questions. Apart from this the researcher attempts to explain the efficacy of some fundamental terms such as "current account deficit to GDP ratio", "fiscal deficit to GDP ratio" and "debt to GDP ratio".

Keywords: Sovereign Insolvency, Debt to GDP Ratio, Current Account Deficit to GDP Ratio, Fiscal Deficit to GDP Ratio

JEL Classification: F00, K00

Suggested Citation

Goel, Shivam, The Concept of Sovereign Insolvency with Special Focus on India (March 7, 2014). Available at SSRN: https://ssrn.com/abstract=2482921 or http://dx.doi.org/10.2139/ssrn.2482921

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