Foreign Bonds: An Autopsy
Author: Max Winkler
Publisher: Beard Books
Published: 1999-12
Total Pages: 320
ISBN-13: 9781893122437
DOWNLOAD EBOOKPosts
The Corporation of Foreign Bondholders
Author: Mr.Paolo Mauro
Publisher: International Monetary Fund
Published: 2003-05-01
Total Pages: 32
ISBN-13: 1451853009
DOWNLOAD EBOOKThis paper analyzes the Corporation of Foreign Bondholders (CFB), an association of British investors holding bonds issued by foreign governments. The CFB played a key role during the heyday of international bond finance, 1870-1913, and in the aftermath of the defaults of the 1930s. It fostered coordination among creditors, especially in cases of default, arranging successfully for many important debt restructurings, though failing persistently in a few cases. While a revamped creditor association might once again help facilitate creditor coordination, the relative appeal of defection over coordination is greater today than it was in the past. The CFB may have had an easier time than any comparable body would have today.
Sovereign Debt Diplomacies
Author: Pierre Penet
Publisher: Oxford University Press
Published: 2021
Total Pages: 371
ISBN-13: 0198866356
DOWNLOAD EBOOKThis 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.
Money of the Mind
Author: James Grant
Publisher: Macmillan
Published: 1994-05
Total Pages: 530
ISBN-13: 0374524017
DOWNLOAD EBOOKThe 1980s witnessed a lemming-like rush into the sea of debt on the part of the American industrial and financial communities, with consequences we are only beginning to appreciate. But the speculative frenzy of the eighties didn't just happen. It was the culmination of a long cycle of slow relaxation of credit practices--the subject of James Grant's brilliant, clear-eyed history of American finance. Two long-running trends converged in the 1980s to create one of our greatest speculative booms: the democratization of credit and the socialization of risk. At the turn of the century, it was almost impossible for the average working person to get a loan. In the 1980s, it was almost impossible to refuse one. As the pace of lending grew, the government undertook to bear more and more of the creditors' risk--a pattern, begun in the Progressive era, which reached full flower in the "conservative" administration of Ronald Reagan. Based on original scholarship as well as firsthand observation, Grant's book puts our recent love affair with debt in an entirely fresh, often chilling, perspective. The result is required--and wickedly entertaining--reading for everyone who wants or needs to understand how the world really works. "A brilliantly eccentric, kaleidoscopic tour of our credit lunacy. . . . A splendid, tooth-gnashing saga that should be savored for its ghoulish humor and passionately debated for its iconoclastic analysis. It is a fitting epitaph to the credit binge of the '80s."--Ron Chernow, The Wall Street Journal.
Re-Imagining Sovereign Debt in International Law through the lens of Socio-Economic Rights
Author: Muhammad Bello
Publisher: Pretoria University Law Press
Published: 2024-07-22
Total Pages: 425
ISBN-13:
DOWNLOAD EBOOKRe-imagining sovereign debt examines the extent to which sovereign debtors’ contractual obligations may be honoured where the socio-economic rights of their citizens face clear danger of non-realisation. It critiques the foundational legal paradigm that influences and shapes the substance of the sovereign debt regime. In doing this, the author employs legal theory to show the inadequacies of the regime in terms of its failure to embrace the dynamism of sovereign debt which he characterises as a debt with a complex mix of public-private elements, hybridity of norms and multiplicity of interests beyond the two-sided creditor-debtor matrix. By locating socio-economic rights in all critical phases of the regime, the author shows that the recurring circles of debt crises are linked to the continuing influence of the private law paradigm. The book offers a fresh perspective to re-imagine sovereign debt using insights from transnational legal theorists and advocates prioritising socio-economic rights considerations in debt contracting, restructuring and adjudication through a more concrete recognition of creditors’ responsibilities. Re-imagining sovereign debt will interest lawyers, policymakers, diplomats, scholars and researchers interested in the law, history and politics of sovereign debt.
Sovereign Debt and International Financial Control
Author: Ali Co?kun Tunçer
Publisher: Springer
Published: 2015-08-26
Total Pages: 426
ISBN-13: 1137378549
DOWNLOAD EBOOKThis book revisits an important chapter of financial history in the Middle East and the Balkans from 1870 1914. During this period, capital flows in the form of sovereign debt increased rapidly throughout the region. The spiral of heavy government borrowing eventually culminated in defaults on foreign obligations in the Ottoman Empire (1875), Egypt (1876), Greece (1893) and Serbia (1895). In all four cases, introducing international financial control over the finances of the debtor states became the prevalent form of dealing with defaults. The different cases of international financial control became increasingly refined and they marked important milestones in the evolution of the global governance of sovereign debt before 1914. For the defaulting states however, the immediate impact of international financial control was infringement of sovereignty. The extent of international financial control and the borrowing capacity of debtor states varied in each case as well as the degree of resistance towards it. This book documents the characteristics of international financial control in a comparative perspective. It relates sovereign debt, default and international financial control to political and fiscal systems, and raises questions about the tension between national sovereignty and global capital. It sheds light on the impact of international financial control on the long-term credibility and fiscal capacity of the debtor states in question. The author demonstrates that the governments' decisions to borrow internationally, and their attitudes towards international financial control, were heavily influenced by domestic political and fiscal factors.
Foreign Debt and Latin American Economic Development
Author: Antonio Jorge
Publisher: Elsevier
Published: 2014-05-17
Total Pages: 201
ISBN-13: 1483152189
DOWNLOAD EBOOKForeign Debt and Latin American Economic Development focuses on the constructive discussion of views held by investigators and experts on the dynamic interaction between economic growth and external debt in Latin America. The selection first offers information on a background paper on the external debt and development in Latin America and a perspective on the external debt of Latin America. The text then elaborates on external financing and debt of the Latin American countries and Latin American external debt and economic growth. Topics include debt rescheduling, external debt and development, and flow of external financial resources. The manuscript takes a look at the economic growth and external debt of Jamaica and Commonwealth Caribbean. Discussions focus on external debt and economic growth, trends in external debt, structure and functioning of the Jamaican economy, and debt policy in the 1970's and 1980's. The book also ponders on the external debt and economic growth of Mexico, external debt situation of Haiti, Venezuela's foreign public debt, and foreign debt and economic development of Costa Rica. The selection is a dependable source of data for readers interested in the interaction between economic progress and external debt in Latin America.
Debt Cycles In The World-economy
Author: Christian Suter
Publisher: Routledge
Published: 2019-03-07
Total Pages: 222
ISBN-13: 0429715188
DOWNLOAD EBOOKThis book describes and explains the long-term dynamics of Third World debt during the nineteenth and twentieth centuries, focusing on the various specific historical patterns of foreign loans, financial crises, and debt settlements between 1820 and 1990.
International Law in the Western Hemisphere
Author: Nigel S. Rodley
Publisher: Springer
Published: 2013-12-01
Total Pages: 213
ISBN-13: 9401192146
DOWNLOAD EBOOKThe essays and commentaries in this collection were presented at a Con ference on Problems of International Law in the Western Hemisphere, the Second Conference on Problems of Regional International Law under the joint sponsorship of the American Society of International Law and the Graduate Faculty of the New School for Social Research, April 2 & 3, 1971. Contributors have been given the opportunity to revise their papers since their original presentation. The editors acknowledge with gratitude the important contributions made by the Chairmen of the respective panels, namely, Professor Louis Henkin of Columbia Law School (Water Resources Panel), Professor Richard B. Lillich of the University of Virginia Law School (panel on Intervention) and Dr. Egon Schwelb of the United Nations (Human Rights Panel). The assistance of the Graduate Faculty of the New School for Social Research in the organization of the conference and that of the New York University Center for International Studies in the editing of these papers have been indispensable. We wish to make particular mention of the unstinting secretarial support of Ms. Donna Welensky and Ms. Judith Chazen. Certain problems would have been insuperable without the critical (in all senses) aid provided by Lyn Rodley. . The descriptions of contributors are those that obtained at the time of the conference. Since then, Professors Rovine and Rodley have moved to new pastures, the former to the Department of State's Office of the Legal Adviser, the latter to Amnesty International, while Dr.
A Free Nation Deep in Debt
Author: James MacDonald
Publisher: Princeton University Press
Published: 2006-05-22
Total Pages: 580
ISBN-13: 9780691126326
DOWNLOAD EBOOKFor the greater part of recorded history the most successful and powerful states were autocracies; yet now the world is increasingly dominated by democracies. In A Free Nation Deep in Debt, James Macdonald provides a novel answer for how and why this political transformation occurred. The pressures of war finance led ancient states to store up treasure; and treasure accumulation invariably favored autocratic states. But when the art of public borrowing was developed by the city-states of medieval Italy as a democratic alternative to the treasure chest, the balance of power tipped. From that point on, the pressures of war favored states with the greatest public creditworthiness; and the most creditworthy states were invariably those in which the people who provided the money also controlled the government. Democracy had found a secret weapon and the era of the citizen creditor was born. Macdonald unfolds this tale in a sweeping history that starts in biblical times, passes via medieval Italy to the wars and revolutions of the seventeenth and eighteenth centuries, and ends with the great bond drives that financed the two world wars.
