Konan Kevin YAO

Engineer in Statistics and Economics

Research Topic

Essays on the macroeconomic effects of Sovereign Debt Restructuring

Our thesis aims to study the different approaches to sovereign debt restructuring on the one hand and on the other hand to study the costs of restructuring on Foreign Direct Investment (FDI) and on economic growth. Indeed, restructuring is not a panacea as claimed by governments, it has economic costs which we try to study in these three essays.

The first essay highlights the different theoretical approaches to restructuring that have been discussed for several decades such as the Sovereign Debt Restructuring Mechanism (SDRM), Collective Action Clauses (CAC) and new post-covid 19 approaches.

Furthermore, the second essay discusses the potential loss of FDI related to sovereign debt restructuring processes. Finally, the third essay studies the effect of restructuring (non-default or post-default) on economic growth.


Pr. Aka Brou Emmanuel
Pr. Aka Brou EmmanuelThesis Director
University of Abomey-Calavi, Républic of Benin.