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Origins, Crises, and Restructuring
This timely and innovative book examines the ongoing debate on resolving sovereign debt defaults and alleviating the debt burden of highly indebted poor countries (HIPC). Concentrating primarily on the past twenty years and focusing on money owed to both the public and the private sector, the volume examines the origins of debt crises, rescheduling tactics, and efforts to create a more enduring solution to the problem of coping with debt. Contributors address related aspects of the international financial system, and examine negotiations involved in rescheduling debt, as well as its efficacy. Policy recommendations are put forward for dealing with the onerous problem of debt default and rescheduling. The authors provide historical and conceptual analyses and consider cutting-edge ideas on the emerging modes of governance of international debt issues. Their contributions are essential reading for scholars in the fields of international economics and political economy, practitioners, and other individuals interested in the evolving complexities of international debt governance.
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What Reviewers Are Saying
"These essays provide a valuable insight into the historical context of this debate about sovereign debt management policies, as well as thoughtful assessments by recognized experts on the likely future course of these policies." --Lee C. Buchheit, Senior International Partner, Cleary Gottlieb, Steen & Hamilton "Dr. Granville and Professor Aggarwal have performed a valuable service by organizing a series of converences on the subject and publishing this wide-ranging and challenging collection of papers." --William A. Allen, Director for Europe and Deputy Director, Financial Stability, Bank of England