Sovereigns in Distress: Do They Need Bankruptcy?
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Eichengreen, Barry & Ruhl, Christof, 2001.
"The bail-in problem: systematic goals, ad hoc means,"
Economic Systems, Elsevier, vol. 25(1), pages 3-32, March.
- Barry Eichengreen & Christof Ruehl, 2000. "The Bail-In Problem: Systematic Goals, Ad Hoc Means," NBER Working Papers 7653, National Bureau of Economic Research, Inc.
- Eichengreen, Barry & Ruehl, Christoph, 2000. "The Bail-In Problem: Systematic Goals, Ad Hoc Means," CEPR Discussion Papers 2427, C.E.P.R. Discussion Papers.
- Oliver Hart & John Moore, 1998.
"Default and Renegotiation: A Dynamic Model of Debt,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(1), pages 1-41.
- Hart, O. & Moore, J., 1989. "Default And Renegotiation: A Dynamic Model Of Debt," Working papers 520, Massachusetts Institute of Technology (MIT), Department of Economics.
- Oliver Hart & John Moore, 1997. "Default and Renegotiation: A Dynamic Model of Debt," Harvard Institute of Economic Research Working Papers 1792, Harvard - Institute of Economic Research.
- Oliver Hart & John Moore, 1997. "Default and Renegotiation: A Dynamic Model of Debt," NBER Working Papers 5907, National Bureau of Economic Research, Inc.
- Oliver Hart & John Moore, 1997. "Default and Renegotiation: A Dynamic Model of Debt," STICERD - Theoretical Economics Paper Series 321, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Eichengreen, Barry & Mody, Ashoka, 1999.
"Would Collective Action Clauses Raise Borrowing Costs?,"
CEPR Discussion Papers
2343, C.E.P.R. Discussion Papers.
- Barry Eichengreen & Ashoka Mody, 2000. "Would Collective Action Clauses Raise Borrowing Costs?," NBER Working Papers 7458, National Bureau of Economic Research, Inc.
- Bebchuk, Lucian Ayre & Chang, Howard F, 1992.
"Bargaining and the Division of Value in Corporate Reorganization,"
The Journal of Law, Economics, and Organization, Oxford University Press, vol. 8(2), pages 253-279, April.
- Lucian Arye Bebchuk & Howard F. Chang, 1991. "Bargaining and the Division of Value in Corporate Reorganization," NBER Technical Working Papers 0097, National Bureau of Economic Research, Inc.
- Webb, David C, 1991. "An Economic Evaluation of Insolvency Procedures in the United Kingdom: Does the 1986 Insolvency Act Satisfy the Creditors' Bargain?," Oxford Economic Papers, Oxford University Press, vol. 43(1), pages 139-157, January.
- Eichengreen, Barry & Mody, Ashoka, 2000.
"Would Collective Action Clauses Raise Borrowing Costs? An Update and Additional Results,"
Center for International and Development Economics Research, Working Paper Series
qt46p4z4c4, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Barry Eichengreen & Ashoka Mody, 2001. "Would Collective Action Clauses Raise Borrowing Costs? An Update and Additional Results," International Finance 0012003, University Library of Munich, Germany.
- Eichengreen, Barry & Mody, Ashoka, 2000. "Would Collective Action Clauses Raise Borrowing Costs? An Update and Additional Results," Department of Economics, Working Paper Series qt46p4z4c4, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Eichengreen, Barry & Mody, Ashoka, 2000. "Would collective action clauses raise borrowing costs? - an update and additional results," Policy Research Working Paper Series 2363, The World Bank.
- White, Michelle J, 1989. "The Corporate Bankruptcy Decision," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 129-151, Spring.
- Kenneth Rogoff, 1999.
"International Institutions for Reducing Global Financial Instability,"
Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 21-42, Fall.
- Kenneth Rogoff, 1999. "International Institutions for Reducing Global Financial Instability," NBER Working Papers 7265, National Bureau of Economic Research, Inc.
- Erik Berglöf & Ernst-Ludwig von Thadden, 1994. "Short-Term versus Long-Term Interests: Capital Structure with Multiple Investors," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(4), pages 1055-1084.
- Jonathan Eaton & Mark Gersovitz, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(2), pages 289-309.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09i41p71525 is not listed on IDEAS
- Hallak, Issam, 2002.
"Why borrowers pay premiums to larger lenders: Empirical evidence from sovereign syndicated loans,"
CFS Working Paper Series
2002/02, Center for Financial Studies (CFS).
- Issam Hallak, 2004. "Why Borrowers Pay Premiums to Larger Lenders: Empirical Evidence from Sovereign Syndicated Loans," CSEF Working Papers 124, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Grahame F Thompson, 2005. "Is the Future ‘Regional’ for Global Standards?," Environment and Planning A, , vol. 37(11), pages 2053-2071, November.
- Marcus H. Miller, 2002. "Sovereign Debt Restructuring: New Articles, New Contracts--Or No Change?," Policy Briefs PB02-03, Peterson Institute for International Economics.
- repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09i41p71525 is not listed on IDEAS
- Thomas, Jonathan P., 2004.
"Bankruptcy proceedings for sovereign state insolvency and their effect on capital flows,"
International Review of Economics & Finance, Elsevier, vol. 13(3), pages 341-361.
- Jonathan Thomas, 2002. "Bankruptcy Proceedings for Sovereign State Insolvency and their Effect on Capital Flows," Edinburgh School of Economics Discussion Paper Series 93, Edinburgh School of Economics, University of Edinburgh.
- Jonathan P. Thomas, 2003. "Bankruptcy Proceedings for Sovereign State Insolvency and their Effect on Capital Flows," WIDER Working Paper Series DP2003-75, World Institute for Development Economic Research (UNU-WIDER).
- Jonathan P. Thomas, 2004.
"Bankruptcy Proceedings for Sovereign State Insolvency,"
The World Economy, Wiley Blackwell, vol. 27(2), pages 265-279, February.
- Jonathan P. Thomas, 2002. "Bankruptcy Proceedings for Sovereign State Insolvency," WIDER Working Paper Series DP2002-109, World Institute for Development Economic Research (UNU-WIDER).
- Sönke Häseler, 2009.
"Collective Action Clauses In International Sovereign Bond Contracts – Whence The Opposition?,"
Journal of Economic Surveys, Wiley Blackwell, vol. 23(5), pages 882-923, December.
- Häseler, Sönke, 2007. "Collective Action Clauses in International Sovereign Bond Contracts - Whence the Opposition?," MPRA Paper 6314, University Library of Munich, Germany.
- Häseler, Sönke, 2008.
"Individual Enforcement Rights in International Sovereign Bonds,"
MPRA Paper
11518, University Library of Munich, Germany.
- Häseler, Sönke, 2011. "Individual enforcement rights in international sovereign bonds," MPRA Paper 35331, University Library of Munich, Germany.
- Andrei Shleifer, 2003.
"Will the Sovereign Debt Market Survive?,"
American Economic Review, American Economic Association, vol. 93(2), pages 85-90, May.
- Andrei Shleifer, 2003. "Will the Sovereign Debt Market Survive?," NBER Working Papers 9493, National Bureau of Economic Research, Inc.
- Shleifer, Andrei, 2003. "Will the Sovereign Debt Market Survive?," Scholarly Articles 33078969, Harvard University Department of Economics.
- Andrei Shleifer, 2003. "Will The Sovereign Debt Market Survive?," Harvard Institute of Economic Research Working Papers 2000, Harvard - Institute of Economic Research.
- Paolo RICCI & Renato CIVITILLO, 2015. "Local government financial distress: international comparison and latest developments in the light of the Italian spending review approach," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(2), pages 239-255, May.
- Gary Dymski, 2011. "The International Debt Crisis," Chapters, in: Jonathan Michie (ed.), The Handbook of Globalisation, Second Edition, chapter 6, Edward Elgar Publishing.
- Haldane, Andrew G. & Penalver, Adrian & Saporta, Victoria & Shin, Hyun Song, 2005.
"Analytics of sovereign debt restructuring,"
Journal of International Economics, Elsevier, vol. 65(2), pages 315-333, March.
- Andrew G Haldane & Adrian Penalver & Victoria Saporta & Hyun Song Shin, 2003. "Analytics of sovereign debt restructuring," Bank of England working papers 203, Bank of England.
- Jérôme Sgard, 2011. "The IMF Meets Commercial Banks: Sovereign Debt Restructuring between 1970 and 1989," Working Papers hal-03473808, HAL.
- Michelle J. White, 2005. "Economic Analysis of Corporate and Personal Bankruptcy Law," NBER Working Papers 11536, National Bureau of Economic Research, Inc.
- Jérôme Sgard, 2011. "The IMF Meets Commercial Banks: Sovereign Debt Restructuring between 1970 and 1989," SciencePo Working papers Main hal-03473808, HAL.
- Barry Eichengreen, 2003. "Restructuring Sovereign Debt," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 75-98, Fall.
- Lang Yang, 2019. "The impact of state intervention and bankruptcy authorization laws on local government deficits," Economics of Governance, Springer, vol. 20(4), pages 305-328, December.
- Urs W. Birchler & Dominik Egli, 2003. "Ein neues Bankinsolvenzrecht für die Schweiz," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 139(II), pages 125-154, June.
- Hallak, Issam, 2003. "Courts and sovereign eurobonds: Credibility of the judicial enforcement of repayment," CFS Working Paper Series 2003/34, Center for Financial Studies (CFS).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Michelle J. White, 2005. "Economic Analysis of Corporate and Personal Bankruptcy Law," NBER Working Papers 11536, National Bureau of Economic Research, Inc.
- Benjamin M. Friedman, 2000. "Debt Restructuring," NBER Working Papers 7722, National Bureau of Economic Research, Inc.
- Eichengreen, Barry & Kletzer, Kenneth & Mody, Ashoka, 2003.
"Crisis Resolution: Next Steps,"
Santa Cruz Center for International Economics, Working Paper Series
qt4cj974r4, Center for International Economics, UC Santa Cruz.
- Barry Eichengreen & Kenneth Kletzer, 2003. "Crisis Resolution: Next Steps," NBER Working Papers 10095, National Bureau of Economic Research, Inc.
- Eichengreen, Barry & Kletzer, Kenneth & Mody, Ashoka, 2003. "Crisis Resolution: Next Steps," Department of Economics, Working Paper Series qt4cj974r4, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Eichengreen, Barry & Kletzer, Kenneth & Mody, Ashoka, 2003. "Crisis Resolution: Next Steps," Santa Cruz Department of Economics, Working Paper Series qt4cj974r4, Department of Economics, UC Santa Cruz.
- Barry Eichengreen & Kenneth M. Kletzer & Ashoka Mody, 2003. "Crisis resolution: next steps," Pacific Basin Working Paper Series 03-05, Federal Reserve Bank of San Francisco.
- Kenneth Kletzer & Mr. Barry J. Eichengreen & Mr. Ashoka Mody, 2003. "Crisis Resolution: Next Steps," IMF Working Papers 2003/196, International Monetary Fund.
- Ghosal, Sayantan & Thampanishvong, Kannika, 2013.
"Does strengthening Collective Action Clauses (CACs) help?,"
Journal of International Economics, Elsevier, vol. 89(1), pages 68-78.
- Ghosal, Sayantan & Thampanishvong, Kannika, 2009. "Does strengthening Collective Action Clauses (CACs) help?," Economic Research Papers 271304, University of Warwick - Department of Economics.
- Ghosal, Sayantan & Thampanishvong, Kannika, 2010. "Does strengthening Collective Action Clauses (CACs) help?," CAGE Online Working Paper Series 29, Competitive Advantage in the Global Economy (CAGE).
- Ghosal, Sayantan & Thampanishvong, Kannika, 2009. "Does strengthening Collective Action Clauses (CACs) help?," The Warwick Economics Research Paper Series (TWERPS) 895, University of Warwick, Department of Economics.
- Jeffrey A. Frankel & Nouriel Roubini, 2001.
"The Role of Industrial Country Policies in Emerging Market Crises,"
NBER Working Papers
8634, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey & Roubini, Nouriel, 2002. "The Role of Industrial Country Policies in Emerging Market Crises," Working Paper Series rwp02-002, Harvard University, John F. Kennedy School of Government.
- Jeffrey A. Frankel, 2010.
"Monetary Policy in Emerging Markets: A Survey,"
NBER Working Papers
16125, National Bureau of Economic Research, Inc.
- Jeffrey Frankel, 2011. "Monetary Policy in Emerging Markets: A Survey," CID Working Papers 215, Center for International Development at Harvard University.
- Frankel, Jeffrey A., 2011. "Monetary Policy in Emerging Markets: A Survey," Scholarly Articles 4669671, Harvard Kennedy School of Government.
- Frankel, Jeffrey, 2011. "Monetary Policy in Emerging Markets: A Survey," Working Paper Series rwp11-003, Harvard University, John F. Kennedy School of Government.
- Weinschelbaum, Federico & Wynne, Jose, 2005.
"Renegotiation, collective action clauses and sovereign debt markets,"
Journal of International Economics, Elsevier, vol. 67(1), pages 47-72, September.
- Jose Wynne & Federico Weinschelbaum, 2004. "Renegotiation, Collective Action Clauses and Sovereign Debt Markets," 2004 Meeting Papers 7, Society for Economic Dynamics.
- José Wynne & Federico Weinschelbaum, 2004. "Renegotiation, Collective Action Clauses and Sovereign Debt Markets," Econometric Society 2004 Latin American Meetings 153, Econometric Society.
- Federico Weinschelbaum & Jose Wynne, 2004. "Renegotiation, Collective Action Clauses and Sovereign Debt Markets," Working Papers 75, Universidad de San Andres, Departamento de Economia, revised Aug 2004.
- Thomas, Jonathan P., 2004.
"Bankruptcy proceedings for sovereign state insolvency and their effect on capital flows,"
International Review of Economics & Finance, Elsevier, vol. 13(3), pages 341-361.
- Jonathan Thomas, 2002. "Bankruptcy Proceedings for Sovereign State Insolvency and their Effect on Capital Flows," Edinburgh School of Economics Discussion Paper Series 93, Edinburgh School of Economics, University of Edinburgh.
- Jonathan P. Thomas, 2003. "Bankruptcy Proceedings for Sovereign State Insolvency and their Effect on Capital Flows," WIDER Working Paper Series DP2003-75, World Institute for Development Economic Research (UNU-WIDER).
- Antje Brunner & Jan Pieter Krahnen, 2008.
"Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(2), pages 415-442.
- Krahnen, Jan-Pieter & Brunner, Antje, 2004. "Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring," CEPR Discussion Papers 4287, C.E.P.R. Discussion Papers.
- Brunner, Antje & Krahnen, Jan Pieter, 2006. "Multiple lenders and corporate distress: Evidence on debt restructuring," CFS Working Paper Series 2001/04, Center for Financial Studies (CFS).
- Federico Sturzenegger, 2002. "Defaults in the 90´s: Factbook and Preliminary Lessons," Business School Working Papers veintidos, Universidad Torcuato Di Tella.
- Yung Chul Park & Yunjong Wang, 2002. "What Kind of International Financial Architecture for an Integrated World Economy?," Asian Economic Papers, MIT Press, vol. 1(1), pages 91-128.
- Roman Kraeussl, "undated".
"A Critique on the Proposed Use of External Sovereign Credit Ratings in Basel II,"
Working Papers
0315, University of Crete, Department of Economics.
- Kraeussl, Roman, 2003. "A Critique on the Proposed Use of External Sovereign Credit Ratings in Basel II," CFS Working Paper Series 2003/23, Center for Financial Studies (CFS).
- Shleifer, Andrei & Vishny, Robert W, 1997.
"A Survey of Corporate Governance,"
Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Shleifer, Andrei & Vishny, Robert W., 1997. "A Survey of Corporate Governance," Scholarly Articles 30728046, Harvard University Department of Economics.
- Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
- Bardozzetti, Alfredo & Dottori, Davide, 2014. "Collective action clauses: How do they affect sovereign bond yields?," Journal of International Economics, Elsevier, vol. 92(2), pages 286-303.
- Jérôme Sgard, 2000. "La gestion des crises de liquidité internationale : logique de faillite, prêteur en dernier ressort et conditionnalité," Working Papers 2000-16, CEPII research center.
- Sourbron Leentje Ann & Vereeck Lode, 2017. "To Pay or Not to Pay? Evaluating the Belgian Law Against Vulture Funds," Journal of Globalization and Development, De Gruyter, vol. 8(1), pages 1-14, June.
- Canuto, Otaviano & Pinto, Brian & Prasad, Mona, 2012. "Orderly sovereign debt restructuring : missing in action !," Policy Research Working Paper Series 6054, The World Bank.
- Detragiache, Enrica, 1995. "Adverse selection and the costs of financial distress," Journal of Corporate Finance, Elsevier, vol. 1(3-4), pages 347-365, April.
- Baer, W & Margot, D & Montes-Rojas, G., 2010. "Argentina's default and the lack of dire consequences," Working Papers 10/09, Department of Economics, City University London.
- Alfaro, Laura & Kanczuk, Fabio, 2009.
"Optimal reserve management and sovereign debt,"
Journal of International Economics, Elsevier, vol. 77(1), pages 23-36, February.
- Laura Alfaro & Fabio Kanczuk, 2007. "Optimal reserve management and sovereign debt," Working Paper Series 2007-29, Federal Reserve Bank of San Francisco.
- Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," NBER Working Papers 13216, National Bureau of Economic Research, Inc.
More about this item
Keywords
macroeconomics; sovereign debt; new bankruptcy arrangements; Sovereigns; Distress; Bankruptcy;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bin:bpeajo:v:33:y:2002:i:2002-1:p:287-320. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Haowen Chen (email available below). General contact details of provider: https://edirc.repec.org/data/esbrous.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.