Add to ORKGWe show how the willingness-to-pay problem and lack of exclusivity in sovereign lending may result in an equilibrium sovereign debt struc-ture that is excessively di ¢ cult to restructure. A bankruptcy regime for sovereigns can alleviate this ine ¢ ciency but only if it is endowed with far-reaching powers to enforce seniority and subordination clauses in debt contracts. A bankrupcty regime that makes sovereign debt easier to re-structure without enforcing seniority may decrease welfare
When sovereign debt restructuring or debt reduction becomes unavoidable, what is the appropriate reg...
Lienau’s book on ‘Rethinking Sovereign Debt’ delves into international finance to shed light on its ...
The failure to enact a statutory system to restructure sovereign debt suggests that the internationa...
Sovereigns tend to selectively default on types of debt that are easier to restructure than others. ...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
Every sovereign debt restructuring in recent memory has wrestled with the problem of inter-creditor ...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
Sovereign debt crises occur regularly and often violently. Yet there is no legally and politically r...
Recent controversies surrounding sovereign debt restructurings show the weaknesses of the current ma...
In April 2002 the International Monetary Fund introduced a sovereign bankruptcy proposal only to be ...
This paper describes the evolution of ideas to apply bankruptcy reorganization principles to soverei...
This Feature considers the debts of quasi-sovereign states in light of proposals to let them file fo...
SHOULD THERE BE a sovereign bankruptcy procedure for countries in financial distress? This paper exp...
macroeconomics, sovereign debt, new bankruptcy arrangements, Sovereigns, Distress, Bankruptcy
When sovereign debt restructuring or debt reduction becomes unavoidable, what is the appropriate reg...
Lienau’s book on ‘Rethinking Sovereign Debt’ delves into international finance to shed light on its ...
The failure to enact a statutory system to restructure sovereign debt suggests that the internationa...
Sovereigns tend to selectively default on types of debt that are easier to restructure than others. ...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
Every sovereign debt restructuring in recent memory has wrestled with the problem of inter-creditor ...
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the l...
Sovereign debt crises occur regularly and often violently. Yet there is no legally and politically r...
Recent controversies surrounding sovereign debt restructurings show the weaknesses of the current ma...
In April 2002 the International Monetary Fund introduced a sovereign bankruptcy proposal only to be ...
This paper describes the evolution of ideas to apply bankruptcy reorganization principles to soverei...
This Feature considers the debts of quasi-sovereign states in light of proposals to let them file fo...
SHOULD THERE BE a sovereign bankruptcy procedure for countries in financial distress? This paper exp...
macroeconomics, sovereign debt, new bankruptcy arrangements, Sovereigns, Distress, Bankruptcy
When sovereign debt restructuring or debt reduction becomes unavoidable, what is the appropriate reg...
Lienau’s book on ‘Rethinking Sovereign Debt’ delves into international finance to shed light on its ...
The failure to enact a statutory system to restructure sovereign debt suggests that the internationa...