Routledge The European Sovereign Debt Crisis and Its Impacts on Financial Markets

Product Description The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighbouring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyses, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, and was not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks. About the Author Go Tamakoshi is a Research Fellow at Department of Economics of Kobe University in Japan. He received his PhD in Economics from Kobe University, MBA from MIT Sloan School of Management, MS and MPP from the University of Michigan, Ann Arbor, and BA from Kyoto University. He has published many papers in refereed journals, such as European Journal of Finance, Applied Financial Economics, and North American Journal of Economics and Finance. Shigeyuki Hamori is a Professor of Economics at Kobe University in Japan. He received his PhD from Duke University and has published many papers in refereed journals. He is the author or co-author of Rural Labor Migration, Discrimination, and the New Dual Labor Market in China (Springer, 2014), and Indian Economy: Empirical Analysis on Monetary and Financial Issues in India (World Scientific, 2014). He is also the co-editor of Global Linkages and Economic Rebalancing in East Asia (World Scientific, 2013) and Financial Globalization and Regionalism in East Asia (Routledge, 2014).