Publication: Sovereign Debt Sustainability For Emerging Market Economies - A Lesson From Greece For Argentina
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Type
Thesis
Degree
MBA
Date
2025
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Published Version
Abstract
Sovereign Debt Crisis has been a key topic for research in International
Economics as it generates persistent threat to the global economic stability,
impacting both advanced and emerging market economies. This thesis
presents an analysis of Greece Debt Crisis (2009-2016) with an aim of
generating certain critical policy lessons for the enhancement of Sovereign
Debt Sustainability in the emerging market economies, particularly for
Argentina. The Greeceās experience has been critically analysed in this
thesis to identify the effective debt management strategies.
With the use of a mixed methods comparative approach the author
Amalgamates both qualitative and quantitative analysis using
macroeconomic secondary data publicly available on the portals of the IMF,
World Bank, European Central Bank and other national sources of Argentina
to identify the trends on the various key macroeconomic indicators and
empirically validating the key theories of international economics such as the
Debt Overhang Theory and the Financial Contagion Theory.This research
Identifies certain similarities and differences between Greece and Argentina
and highlights the role of institutional support for a Sovereign.
Recommendations crafted out from this thesis include: stringent fiscal
discipline, Comprehensive structural reforms, proactive debt management
and vigilant management of the contagion risks. Thus this thesis offers data
driven insights for the debt sustainability of the emerging market economies
validating the core theories of international economics.