This paper surveys the recent literature on sovereign debt and relates it to the evolution of
the legal principles underlying the sovereign debt market and the experience of the most …

This paper reviews sources of market failures in financial institutions and markets and what
can be done to alleviate them. It examines game theoretic explanations for financial …

This paper empirically evaluates four types of costs that may result from an international
sovereign default: reputational costs, international trade exclusion costs, costs to the …

The turmoil that rocked Asian markets after the middle of 1997 and that spread far afield was
the third major currency crisis of the 1990s. Thailand, Indonesia, Malaysia, and South Korea …

At the turn of the century the Turkish economy was in need of an urgent stabilization in order
to halt a treacherous process of inflation, unsustainable public debt accumulation, and …

Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and
Uruguay, framed by a comprehensive discussion of the history, economic theory, legal …

This book provides an analysis of the global monetary system and the necessary reforms
that it should undergo to play an active role in the twenty-first century. As its title indicates, its …

This volume brings together many of the leading international figures in development
studies, such as Jose Antonio Ocampo, Paul Krugman, Dani Rodrik, Joseph Stiglitz, Daniel …

I estimate the effect of sovereign debt renegotiation on international trade. Sovereigns may
fear the trade consequences of default; because creditors deter default, or because trade …

This paper asks how recent developments in research on banking and sovereign lending
can help inform the debate on choosing a new international financial architecture. A broad …