Reputational Recovery under Political Instability

Detalhes bibliográficos
Autor(a) principal: Costa, Leonor Freire
Data de Publicação: 2022
Outros Autores: Miranda, Susana Münch
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/145503
Resumo: PTDC/HAR-HIS/28809/2017
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spelling Reputational Recovery under Political InstabilityPublic debt in Portugal, 1641-1682Self-enforced constraintsAbsolutist regimeCredible commitmentDebt sustainabilityInterest ratesPerpetuitiesEconomics, Econometrics and Finance(all)SDG 16 - Peace, Justice and Strong InstitutionsPTDC/HAR-HIS/28809/2017This article examines the reputation recovery of Portugal's public debt during the war of liberation against the former Habsburg ruler. Using novel datasets on long- and short-term debt and nominal interest rates, this study provides evidence that the sovereign borrower used debt credibility to build a pact of regime in a revolutionary context with implications for financing the war. The Portuguese kings followed an implicit budget balance rule as a reputational scheme, which made Portugal an exceptional case of military success with a low debt-to-GDP ratio and low interest rates. These conclusions contribute to the literature in various attributes of war finance, debt management, and state-making by showing that default avoidance could be as important to military success as fiscal capacity.Departamento de História (DH)CHAM - Centro de HumanidadesRUNCosta, Leonor FreireMiranda, Susana Münch2022-11-14T22:10:10Z2022-11-092022-11-09T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article22application/pdfhttp://hdl.handle.net/10362/145503eng0013-0117PURE: 47706165https://doi.org/10.1111/ehr.13217info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:25:56Zoai:run.unl.pt:10362/145503Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:52:06.917397Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Reputational Recovery under Political Instability
Public debt in Portugal, 1641-1682
title Reputational Recovery under Political Instability
spellingShingle Reputational Recovery under Political Instability
Costa, Leonor Freire
Self-enforced constraints
Absolutist regime
Credible commitment
Debt sustainability
Interest rates
Perpetuities
Economics, Econometrics and Finance(all)
SDG 16 - Peace, Justice and Strong Institutions
title_short Reputational Recovery under Political Instability
title_full Reputational Recovery under Political Instability
title_fullStr Reputational Recovery under Political Instability
title_full_unstemmed Reputational Recovery under Political Instability
title_sort Reputational Recovery under Political Instability
author Costa, Leonor Freire
author_facet Costa, Leonor Freire
Miranda, Susana Münch
author_role author
author2 Miranda, Susana Münch
author2_role author
dc.contributor.none.fl_str_mv Departamento de História (DH)
CHAM - Centro de Humanidades
RUN
dc.contributor.author.fl_str_mv Costa, Leonor Freire
Miranda, Susana Münch
dc.subject.por.fl_str_mv Self-enforced constraints
Absolutist regime
Credible commitment
Debt sustainability
Interest rates
Perpetuities
Economics, Econometrics and Finance(all)
SDG 16 - Peace, Justice and Strong Institutions
topic Self-enforced constraints
Absolutist regime
Credible commitment
Debt sustainability
Interest rates
Perpetuities
Economics, Econometrics and Finance(all)
SDG 16 - Peace, Justice and Strong Institutions
description PTDC/HAR-HIS/28809/2017
publishDate 2022
dc.date.none.fl_str_mv 2022-11-14T22:10:10Z
2022-11-09
2022-11-09T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/145503
url http://hdl.handle.net/10362/145503
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0013-0117
PURE: 47706165
https://doi.org/10.1111/ehr.13217
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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application/pdf
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instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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