Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance
Odette Lienau
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Detalhes do Produto
- Editora: Harvard University Press
- Categorias:
- Ano: 2014
- ISBN: 9780674725065
Sinopse
(Winner of an American Society of International Law Book Award)
Why do we think that sovereign debt must be repaid - even after a major regime change - in order to maintain country creditworthiness? In a fascinating and highly original book, Odette Lienau argues that this conventional wisdom is overly simplistic and in some respects entirely wrong. Using cases and institutional analysis drawn from across the last century - from the Soviet repudiation of tsarist loans to Iraq´s debt restructuring after the fall of Saddam Hussein - Lienau challenges what she calls the norm of debt continuity, and contends that its underlying assumptions of political neutrality, creditor uniformity, and historical…
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