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Bankruptcy Proceedings for Sovereign State Insolvency and their Effect on Capital Flows

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  • Jonathan P. Thomas

Abstract

The paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by which domestic bankruptcy procedures operate, and the extent to which they apply to international lending. Two recent proposals are considered in more detail, that of Krueger ('A New Approach to Sovereign Debt Restructuring') and that of Pettifor ('Resolving International Debt Crises - The Jubilee Framework for International Insolvency').

Suggested Citation

  • 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).
    • Handle: RePEc:unu:wpaper:dp2003-75
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2003-075.pdf
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    References listed on IDEAS

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    Cited by:

    1. Kathrin Berensmann & Angélique Herzberg, 2009. "Sovereign Insolvency Procedures – A Comparative Look At Selected Proposals," Journal of Economic Surveys, Wiley Blackwell, vol. 23(5), pages 856-881, December.
    2. Bedford, Paul & Irwin, Gregor, 2008. "Financial Stability Paper No 4: Reforming the IMF's Lending-into-Arrears Framework," Bank of England Financial Stability Papers 4, Bank of England.

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    More about this item

    Keywords

    Bankruptcy; Public debt; Foreign loans;
    All these keywords.

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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