Description
Book SynopsisSovereign Debt Diplomacies revisits the meaning of sovereign debt in relation to colonial history and postcolonial developments.
Trade ReviewThis book skillfully brings sovereign debt out of the corners of wonky international finance and into the world of international studies, where diplomacy, history, and globalization intersect with government borrowing and long-term debt. * B. Roman, CHOICE *
A go-to source for innovative scholarship by the most recent generation of sovereign debt scholars ... The book very much repays reading. * Barry Eichengreen, OEconomia *
This work provides a strikingly innovative analysis of sovereign debt, by explaining why international finance is eminently political. The wide range of historical cases included here focus on the study of conflicts and disputes which demonstrate the scarcity of rules governing international lending and borrowing. The subject urgently requires reflection and action today as the volume of public debt explodes. * Carlos Marichal, Emeritus Professor of Economic History, El Colegio de México *
The editors have assembled an essential volume, which fills gaps in our understanding of sovereign debt, its place in economic history and international politics. The colonial project has malingered between the lines of contemporary sovereign debt discourse. This volume brings it to the foreground with analytical rigor and interdisciplinary creativity. It is an exceptionally sophisticated, yet accessible, examination of the debt relationship, and the commitments it extracts from both debtors and creditors over time. This perspective is particularly indispensable now, when researchers and policy makers are prone to treat China's ascendance as creditor, and the decline of international institutions dominated by the trans-Atlantic powers, as challenges without precedent in economic history. * Anna Gelpern, Professor of Law and Agnes N. Williams Research Professor, Georgetown University Law Center *
Table of ContentsPierre Pénet and Juan Flores Zendejas: Introduction: Sovereign Debt Diplomacies 1: Pierre Pénet And Juan Flores Zendejas: Rethinking Sovereign Debt from Colonial Empires to Hegemony Section 1. Imperial Solutions to Sovereign Debt Crises (1820-1933) 2: Juan Flores Zendejas And Felipe Ford Cole: Sovereignty and Debt in 19th Century Latin America 3: Ali Coskun Tunçer: Foreign Debt and Colonisation in Egypt and Tunisia (1840-1882) 4: Nicolas Degive And Kim Oosterlinck: Independence and the Effect of Empire: The Case of 'Sovereign Debts' issued by British Colonies Section 2. Debt Disputes in The Age Of Financial Repression: When Repayment Takes A Backseat (1933-1970s) 5: Gustavo Del Angel And Lorena Perez: The Fortune of Geopolitical Conditions in Debt Diplomacy: Mexico's Long Road to the 1942 Foreign Debt Settlement 6: Laura De La Villa: The Multilateral Principle-Based Approach to the Restructuring of German Debts in 1953 7: Juan Flores Zendejas, Pierre Pénet, and Christian Suter: The Revenge of Defaulters: Sovereign Defaults and Interstate Negotiations in the Post-War Financial Order Section 3. Postcolonial Transitions and the Hopes for a New International Economic Order (1960s-1980s) 8: Grégoire Mallard: We Owe You Nothing: Decolonization and Sovereign Debt Obligations in International Public Law 9: Michael Waibel: Decolonization and Sovereign Debt: A Quagmire 10: Quentin Deforge And Benjamin Lemoine: Third World Project and the Battles of Debt: Macro Financial Agenda versus Technical Assistance at UNCTAD Section 4. The Legalisation of Sovereign Debt Disputes Between Wish and Reality (1990s-Present) 11: Giselle Datz: Placing Contemporary Sovereign Debt: The Fragmented Landscape of Legal Precedent and Legislative Preemption 12: Mitu Gulati And Ugo Panizza: Maduro Bonds 13: Anusha Chari And Ryan Leary: Contract Provisions, Default Risk, and Bond Prices: Evidence from Puerto Rico Odette Lienau: Concluding Remarks: (Neo)Colonialism, (Neo)Imperialism, and Hegemony
