Hope Springs Eternal
Subtitle: French Bondholders and the Repudiation of Russian Sovereign Debt
Publisher: Yale University Press
Published: 2016
Language: eng
Number of pages: 264
ISBN-13: 9780300190915
Subjects: Soviet union, economic conditions
Description: In 1918, the Soviet revolutionary government repudiated the Tsarist regime's sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repayment.