Title: Hope Springs Eternal
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.
Subjects: Soviet union, economic conditions, Default (Finance), History, Repudiation, State bankruptcy, External Debts, Debtor and creditor, Défaillance (Finances), Histoire, Répudiation (Économie politique), Faillite d'État, Dettes extérieures, Débiteur et créancier, BUSINESS & ECONOMICS, Public Finance, Relations extérieures, Public Debts, Foreign economic relations