Sovereign Debt Crisis
Get the Sovereign Debt Crisis dummy for a variety of countries over time from the Global Macro Database (GMDB). Unlike the other indicators in this module, this is a binary (0 = no crisis, 1 = crisis) Reinhart & Rogoff style crisis-dating series rather than a continuous economic series: a value of 1 marks a year in which a country was undergoing a sovereign debt crisis (e.g. a default or restructuring of government debt), and 0 marks a year in which it was not.
The crisis dating stops short of the present and ends in a different year per country (2017 for Argentina, for example), so the years after it are NaN rather than 0.
Data comes from the Global Macro Database (GMDB), further information about the variable can be found within https://www.globalmacrodata.com/documentation.html
Also known as: sovereign default, debt crisis dummy.
Sovereign Debt Crisis in Python or via the MCP
Install the Finance Toolkit with:
pip install financetoolkit -U
Then call get_sovereign_debt_crisis as shown below.
from financetoolkit import Economics
economics = Economics(start_date="1999-01-01", end_date="2005-12-31")
economics.get_sovereign_debt_crisis(countries=["Argentina", "Ecuador", "Greece"])
Or, after setting up the Finance Toolkit MCP, ask:
In which years from 1999 to 2005 did Argentina, Ecuador and Greece go through a sovereign debt crisis?
Which returns:
| Argentina | Ecuador | Greece | |
|---|---|---|---|
| 1999 | 0 | 1 | 0 |
| 2000 | 0 | 0 | 0 |
| 2001 | 1 | 0 | 0 |
| 2002 | 0 | 0 | 0 |
| 2003 | 0 | 0 | 0 |
| 2004 | 0 | 0 | 0 |
| 2005 | 1 | 0 | 0 |
Parameters
get_sovereign_debt_crisis accepts the following parameters.
| Parameter | Type | Description | Example |
|---|---|---|---|
countries | list[str] | str | None | A list of countries or a single country to include in the results. Defaults to None. | ["United States", "Germany"] |
rolling | int | The rolling window size to use for smoothing the data (simple moving average). Defaults to None. | 4 |
trailing | int | The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None. | 4 |
rounding | int | None | The number of decimals to round the results to. Defaults to None. | 2 |
gmdb_forecasts | bool | Whether to include the years the Global Macro Database projects, from the IMF’s World Economic Outlook, up to five years ahead. Only applies to data from the Global Macro Database. Defaults to False, which ends a series with its last observation. | True |