Description
There is an obvious need to learn more about why some countries succeed and others fail when dealing with debt crises. Why do some sovereign debtors overcome economic problems very quickly and at minor human rights costs for their people, while others remain trapped by debts for years struggling with overwhelming debt burdens and exacerbating economic problems and human suffering? This book analyzes fourteen unique or singular country cases of sovereign debt problems that differ characteristically from the 'ordinary' debtor countries, and have not yet received enough or proper attention - some regarded as successful, some as unsuccessful in dealing with debt crises. The aim is to contribute to a better understanding of the policy options available to countries struggling with debt problems, or how to resolve a debt overhang while protecting human rights, the Rule of Law and the debtor's economic recovery.
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.
About the Author
Juan Pablo Bohoslavsky is a United Nations Independent Expert on Foreign Debt and Human Rights. He previously worked at the United Nations Conference on Trade and Development (UNCTAD) and as a consultant for the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). A doctor of law with wide experience in international relations and litigation, he is the author of numerous books and articles on sovereign financing, economic complicity, and human rights. Kunibert Raffer was an associate professor (retired September 2016) at the Department of Economics, Universitat Wien, Austria; Honorary Professor of the Universidad Nacional de Rio Negro, Argentina; member of the Sovereign Bankruptcy Group of the International Law Association; 1989 Visiting Fellow at the Institute of Development Studies (Sussex) invited by Sir Hans (HW) Singer with whom he co-authored two books; and 1990-93 Honorary Research Fellow, Department of Commerce, University of Birmingham. In 1998 he participated in the United Nations Development Programme's research project 'International Development Cooperation and Global Public Goods.' He is a former lecturer at the United Nations Institute for Training and Research (UNITAR) (on debt and the Millennium Development Goals), and he proposed a model of sovereign insolvency (Raffer Proposal).
Reviews
'Countries respond to sovereign debt crises in remarkably different ways and with remarkably different results. Some are handled well and produce only limited social, financial and political disruption. Others are mangled, with terrible consequences both for the citizens of the debtor country and the country's creditors. The essays compiled by Messrs, Bohoslavsky and Raffer in this timely book survey these precedents and astutely distil the relevant lessons.' Lee C. Buchheit, Cleary, Gottlieb Steen and Hamilton LLP
'Sovereign debt crises have always been with us, and they always will be, like it or not. The contributors to this book provide a detailed look back at some of the most important episodes. In addition, and more importantly, they offer a way forward. Their ideas for how to handle such crises are much needed; one can only hope that the international policy community will listen.' Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
'The indispensable guide to the modern history of debt crises.' James K. Galbraith, author of Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe
'This volume confronts a vital question - why do sovereign debt crises persist, despite the vast intellectual and policy effort invested in fighting them? The book's core contribution is to cast a wide net geographically, with broad country coverage, temporally, by examining developments before and after the acknowledged crisis period, and analytically, by embracing legal, historical, philosophical, and economic perspectives on the debt problem. That the authors are able to distill all this knowledge into pragmatic prescriptions for incorporating human rights and human welfare into debt thinking is an achievement to celebrate.' Anna Gelpern, Georgetown University, Washington, DC
Book Information
ISBN 9781316649947
Author Juan Pablo Bohoslavsky
Format Paperback
Page Count 308
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 440g
Dimensions(mm) 230mm * 151mm * 16mm
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.
About the Author
Juan Pablo Bohoslavsky is a United Nations Independent Expert on Foreign Debt and Human Rights. He previously worked at the United Nations Conference on Trade and Development (UNCTAD) and as a consultant for the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). A doctor of law with wide experience in international relations and litigation, he is the author of numerous books and articles on sovereign financing, economic complicity, and human rights. Kunibert Raffer was an associate professor (retired September 2016) at the Department of Economics, Universitat Wien, Austria; Honorary Professor of the Universidad Nacional de Rio Negro, Argentina; member of the Sovereign Bankruptcy Group of the International Law Association; 1989 Visiting Fellow at the Institute of Development Studies (Sussex) invited by Sir Hans (HW) Singer with whom he co-authored two books; and 1990-93 Honorary Research Fellow, Department of Commerce, University of Birmingham. In 1998 he participated in the United Nations Development Programme's research project 'International Development Cooperation and Global Public Goods.' He is a former lecturer at the United Nations Institute for Training and Research (UNITAR) (on debt and the Millennium Development Goals), and he proposed a model of sovereign insolvency (Raffer Proposal).
Reviews
'Countries respond to sovereign debt crises in remarkably different ways and with remarkably different results. Some are handled well and produce only limited social, financial and political disruption. Others are mangled, with terrible consequences both for the citizens of the debtor country and the country's creditors. The essays compiled by Messrs, Bohoslavsky and Raffer in this timely book survey these precedents and astutely distil the relevant lessons.' Lee C. Buchheit, Cleary, Gottlieb Steen and Hamilton LLP
'Sovereign debt crises have always been with us, and they always will be, like it or not. The contributors to this book provide a detailed look back at some of the most important episodes. In addition, and more importantly, they offer a way forward. Their ideas for how to handle such crises are much needed; one can only hope that the international policy community will listen.' Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
'The indispensable guide to the modern history of debt crises.' James K. Galbraith, author of Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe
'This volume confronts a vital question - why do sovereign debt crises persist, despite the vast intellectual and policy effort invested in fighting them? The book's core contribution is to cast a wide net geographically, with broad country coverage, temporally, by examining developments before and after the acknowledged crisis period, and analytically, by embracing legal, historical, philosophical, and economic perspectives on the debt problem. That the authors are able to distill all this knowledge into pragmatic prescriptions for incorporating human rights and human welfare into debt thinking is an achievement to celebrate.' Anna Gelpern, Georgetown University, Washington, DC
Book Information
ISBN 9781316649947
Author Juan Pablo Bohoslavsky
Format Paperback
Page Count 308
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 440g
Dimensions(mm) 230mm * 151mm * 16mm
