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The Resource Rethinking sovereign debt : politics, reputation, and legitimacy in modern finance, Odette Lienau

Rethinking sovereign debt : politics, reputation, and legitimacy in modern finance, Odette Lienau

Creator
Author
Summary
Main Description:Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its loan obligations damages its reputation, inviting still greater problems down the road. Yet difficult dilemmas arise from this assumption. Should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses? Rethinking Sovereign Debt is a probing historical analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or expect reputational consequences--became the consensus approach. Odette Lienau contends that the practice is not essential for functioning international capital markets, and demonstrates how it relies on ideas of absolutist government that have come under fire over the last century. Challenging previous accounts, Lienau incorporates a wealth of original research to argue that Soviet Russia's repudiation of Tsarist debt and Great Britain's 1923 arbitration with Costa Rica hint at the feasibility of selective debt cancellation. She traces the notion of debt continuity from the post-World War I era to the present, emphasizing the role of government officials, the World Bank, and private-market actors in shaping our existing framework. Lienau calls on scholars and policymakers to recognize political choice and historical precedent in sovereign debt and reputation, in order to move beyond an impasse when a government is overthrown
Language
eng
Work
Publication
Extent
1 online resource (331 pages)
Contents
  • Introduction
  • Open questions in sovereign debt
  • Costly talk? reinterpreting the Soviet repudiation
  • The Costa Rican opening for rule of law and public benefit
  • Public and private capital in the strengthening of debt continuity
  • Continuity and consolidation in the return of private finance
  • Legitimacy and debt at the turn of the century
  • Conclusion
Isbn
9780674726406
Instance
Label
Rethinking sovereign debt : politics, reputation, and legitimacy in modern finance
Title
Rethinking sovereign debt
Title remainder
politics, reputation, and legitimacy in modern finance
Statement of responsibility
Odette Lienau
Creator
Author
Subject
Genre
Language
eng
Summary
Main Description:Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its loan obligations damages its reputation, inviting still greater problems down the road. Yet difficult dilemmas arise from this assumption. Should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses? Rethinking Sovereign Debt is a probing historical analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or expect reputational consequences--became the consensus approach. Odette Lienau contends that the practice is not essential for functioning international capital markets, and demonstrates how it relies on ideas of absolutist government that have come under fire over the last century. Challenging previous accounts, Lienau incorporates a wealth of original research to argue that Soviet Russia's repudiation of Tsarist debt and Great Britain's 1923 arbitration with Costa Rica hint at the feasibility of selective debt cancellation. She traces the notion of debt continuity from the post-World War I era to the present, emphasizing the role of government officials, the World Bank, and private-market actors in shaping our existing framework. Lienau calls on scholars and policymakers to recognize political choice and historical precedent in sovereign debt and reputation, in order to move beyond an impasse when a government is overthrown
Member of
Cataloging source
N$T
http://library.link/vocab/creatorDate
1978-
http://library.link/vocab/creatorName
Lienau, Odette
Dewey number
336.3/4
Index
index present
Language note
In English
LC call number
HJ8015
LC item number
.L54 2014eb
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/subjectName
  • Debts, Public
  • Debt cancellation
  • POLITICAL SCIENCE
  • Debt cancellation
  • Debts, Public
  • Länderrisiko
  • Debt Management
  • Öffentliche Schulden
  • Schuldenerlass
Label
Rethinking sovereign debt : politics, reputation, and legitimacy in modern finance, Odette Lienau
Instantiates
Publication
Copyright
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Introduction -- Open questions in sovereign debt -- Costly talk? reinterpreting the Soviet repudiation -- The Costa Rican opening for rule of law and public benefit -- Public and private capital in the strengthening of debt continuity -- Continuity and consolidation in the return of private finance -- Legitimacy and debt at the turn of the century -- Conclusion
Control code
871257658
Dimensions
unknown
Extent
1 online resource (331 pages)
File format
unknown
Form of item
online
Isbn
9780674726406
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.4159/harvard.9780674726406
http://library.link/vocab/ext/overdrive/overdriveId
22573/ctt65vcmv
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)871257658
Label
Rethinking sovereign debt : politics, reputation, and legitimacy in modern finance, Odette Lienau
Publication
Copyright
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Introduction -- Open questions in sovereign debt -- Costly talk? reinterpreting the Soviet repudiation -- The Costa Rican opening for rule of law and public benefit -- Public and private capital in the strengthening of debt continuity -- Continuity and consolidation in the return of private finance -- Legitimacy and debt at the turn of the century -- Conclusion
Control code
871257658
Dimensions
unknown
Extent
1 online resource (331 pages)
File format
unknown
Form of item
online
Isbn
9780674726406
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.4159/harvard.9780674726406
http://library.link/vocab/ext/overdrive/overdriveId
22573/ctt65vcmv
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)871257658

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