Sovereign Risk and Financial Crisis

Dr Silvia Pepino is Senior Adviser at the Bank of England, UK. Previously, she worked at JPMorgan and at leading global macro funds. She has frequently been quoted in the international media. She holds a PhD from the London School of Economics and Political Science, the TRIUM MBA degree from New York University-Stern, HEC Paris and the LSE, and an MSc from Bocconi University in Milan.

PART I: SOVEREIGN RISK, POLITICS AND THE EUROZONE CRISISi. Introduction
1. Sovereign Risk, Developed Democracies and Financial Crisis
2. Sovereign Risk and the Debt Crisis in the Eurozone
3. The Focus of the Book
4. The Approach in the Book
5. Outline of the Book



PART II: BOND SPREADS, EMU DESIGN AND THE RUN-UP TO THE CRISIS


1. Introduction
2. Adaptive Markets and Sovereign Risk Models
3. The Political Sources of Sovereign Credibility in Financial Markets
4. International Influences on Sovereign Risk Perceptions
5. Theoretical Pillars



PART III: BOND SPREADS, EMU DESIGN AND THE RUN-UP TO THE CRISISi. Introduction
1. Government Bond Spreads and EMU Design
2. Greece and Ireland: The Macro and Political Economy
3. Politics and Spreads Before 2008



PART IV: THE GREEK SOVEREIGN DEBT CRISIS


1. Introduction
2. Evolving Investment Analysis and the Greek Sovereign Debt Crisis
3. Domestic Political Economy of the Greek Sovereign Debt Crisis
4. International Political Economy of the Greek Sovereign Debt Crisis
5. Key results from the Greek Case Study



PART V: THE IRISH SOVEREIGN DEBT CRISIS


1. Introduction
2. Evolving Investment Analysis and the Irish Sovereign Debt Crisis
3. Domestic Political Economy of the Irish Sovereign Debt Crisis
4. International Political Economy of the Irish Sovereign Debt Crisis
5. Key results from the Irish Case Study



PART VI: THE IPE OF THE EUROZONE SOVEREIGN DEBT CRISIS


1. Introduction
2. Lessons from the Greek and Irish Cases
3. Application to other Eurozone Sovereigns
4. Next Steps in IPE Research
5. Implications for Policy
6. Final Remarks