Sovereign Debt Crises: What Have We Learned?

Cambridge University Press, 11/2/2017
EAN 9781316510445, ISBN10: 1316510441

Hardcover, 304 pages, 23.5 x 15.8 x 2 cm
Language: English

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.

1. Introduction
we need to learn from our experience Juan Pablo Bohoslavsky and Kunibert Raffer
2. Managing public debt crisis in Argentina
between sovereignty and subordination Alfredo Calcagno
3. Why developing countries should not incur foreign debt
the Brazilian experience Luiz Carlos Bresser-Pereira and Thiago de Moraes Moreira
4. Ecuador's 2008–9 debt restructuring
a special case? Adam Feibelman
5. Greece
an EU-inflicted catastrophe Kunibert Raffer
6. Grenada
a small island developing state needs new ways out of its debt Juergen Kaiser
7. Iceland
a human rights sensitive approach to deal with financial crises Juan Pablo Bohoslavsky
8. Indonesia's 1997–8 economic crisis
a teachable case wasted Manuel F. Montes
9. The Irish sovereign debt crisis post–2009
a lesson on why countries should never enter into unsustainable currency unions Philip Pilkington
10. Short-term capital controls and Malaysia's fast recovery after the East-Asian crisis Marion Pircher
11. Sovereign debt
lessons from the Mexican experience Oscar Ugarteche Galarza and Rodrigo Delgado Méndez
12. Portugal's austerity bailout
lessons of a dangerous experiment José Castro Caldas
13. Don't waste a serious crisis
lessons from South Africa's debt crisis Daniel D. Bradlow
14. Lessons from South Korea
a developmental mindset makes a difference when governing the financial economy Elizabeth Thurbon
15. The Spanish crisis
the trouble of managing debt overhang in an imperfect monetary union José Antonio Alonso
16. Conclusions
what has been learned? Juan Pablo Bohoslavsky and Kunibert Raffer.