Sovereign Debt Diplomacies
Sovereign Debt Diplomacies

Author: Pierre Penet

Publisher: Oxford University Press

Published: 2021

Total Pages: 371

ISBN-13: 0198866356

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This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Sovereign Debt Diplomacies aims to revisit the meaning of sovereign debt in relation to colonial history and postcolonial developments. It offers three main contributions. The first contribution is historical. The volume historicises a research field that has so far focused primarily on the post-1980 years. A focus on colonial debt from the 19th century building of colonial empires to the decolonisation era in the 1960s-70s fills an important gap in recent debt historiographies. Economic historians have engaged with colonialism only reluctantly or en passant, giving credence to the idea that colonialism is not a development that deserves to be treated on its own. This has led to suboptimal developments in recent scholarship. The second contribution adds a 'law and society' dimension to studies of debt. The analytical payoff of the exercise is to capture the current developments and functional limits of debt contracting and adjudication in relation to the long-term political and sociological dynamics of sovereignty. Finally, Sovereign Debt Diplomacies imports insights from, and contributes to the body of research currently developed in the Humanities under the label 'colonial and postcolonial studies'. The emphasis on 'history from below' and focus on 'subaltern agency' usefully complement the traditional elite-perspective on financial imperialism favoured by the British school of empire history.

Sovereign Debt Crises and Negotiations in Brazil and Mexico, 1888-1914
Sovereign Debt Crises and Negotiations in Brazil and Mexico, 1888-1914

Author: Leonardo Weller

Publisher: Springer

Published: 2018-04-20

Total Pages: 193

ISBN-13: 3319736337

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This book analyzes the relative balance of bargaining power between governments and the banks in charge of underwriting their debt during the first financial globalization. Brazil and Mexico, both indebted countries that underwent major changes in reputation and negotiating power as they faced financial crises, provide valuable case studies of government strategies for obtaining the best possible outcomes. Previous literature has focused on bankers’ perspectives and emphasized that debtors were submissive during negotiations, but Weller finds that governments’ negotiating power varied over time. He presents a new analytical framework that interprets when and why officials were likely to negotiate loans more or less effectively, with newly uncovered primary sources from debtors’ and creditors’ archives suggesting key causes of variation: fiscal accounts, political stability, and creditors’ exposure and reputation.

Liberals, Politics, and Power
Liberals, Politics, and Power

Author: Vincent C. Peloso

Publisher: University of Georgia Press

Published: 1996

Total Pages: 324

ISBN-13: 9780820318004

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Looking at the Latin American liberal project during the century of postindependence, this collection of original essays draws attention to an underappreciated dilemma confronting liberals: idealistic visions and fiscal restraints. Liberals, Politics, and Power focuses on the inventiveness of nineteenth-century Latin Americans who applied liberal ideology to the founding and maintenance of new states. The impact of liberalism in Latin America, the contributors show, is best understood against the larger backdrop of struggles that pitted regional demands against the pressures of foreign finance, a powerful church against a decentralized state, and aristocratic desire to retain privilege against rising demands for social mobility. Moving beyond the traditional historiographical division between Eurocentric and dependency theories, the essays attempt to account for a uniquely Latin American liberal ideology and politics by exploring the political dynamics of such countries as Mexico, Colombia, Argentina, and Peru. Contributors discuss liberal efforts to build a viable legal order through elections and to implement a means of public finance that could fund the states' operations. Essays that span the entire century address issues such as the emergence of caudillos, the role of artisans, and popular participation in elections in light of fiscal, and other, impediments to progress. In their introduction, Vincent C. Peloso and Barbara A. Tenenbaum provide a hemispheric overview of liberalism that illustrates its similarities across Latin America. By exploring the liberal constitutional and economic order lying beneath apparently dictatorial states, this pathbreaking volume underlines the importance of fiscal policy in the fashioning of state power. Liberals, Politics, and Power serves not only as a guide to the liberal principles and practices that governed state formation in nineteenth-century Latin America but also as a means to evaluate the complex relationship between ideas and practical politics.