Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance

Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that...
Dhs. 562.43 AED
Dhs. 562.43 AED
SKU: 9780674725065
Product Type: Books
Please hurry! Only 336 left in stock
Author: Odette Lienau
Format: Hardcover
Language: English
Subtotal: Dhs. 562.43
10 customers are viewing this product
Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance by Lienau, Odette

Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance

Dhs. 562.43

Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance

Dhs. 562.43
Author: Odette Lienau
Format: Hardcover
Language: English

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.



Author: Odette Lienau
Publisher: Harvard
Published: 02/18/2014
Pages: 344
Binding Type: Hardcover
Weight: 1.45lbs
Size: 9.30h x 6.20w x 1.30d
ISBN: 9780674725065

About the Author
Lienau, Odette: - Odette Lienau is Associate Professor of Law at Cornell University Law School.

Returns Policy

You may return most new, unopened items within 30 days of delivery for a full refund. We'll also pay the return shipping costs if the return is a result of our error (you received an incorrect or defective item, etc.).

You should expect to receive your refund within four weeks of giving your package to the return shipper, however, in many cases you will receive a refund more quickly. This time period includes the transit time for us to receive your return from the shipper (5 to 10 business days), the time it takes us to process your return once we receive it (3 to 5 business days), and the time it takes your bank to process our refund request (5 to 10 business days).

If you need to return an item, simply login to your account, view the order using the "Complete Orders" link under the My Account menu and click the Return Item(s) button. We'll notify you via e-mail of your refund once we've received and processed the returned item.

Shipping

We can ship to virtually any address in the world. Note that there are restrictions on some products, and some products cannot be shipped to international destinations.

When you place an order, we will estimate shipping and delivery dates for you based on the availability of your items and the shipping options you choose. Depending on the shipping provider you choose, shipping date estimates may appear on the shipping quotes page.

Please also note that the shipping rates for many items we sell are weight-based. The weight of any such item can be found on its detail page. To reflect the policies of the shipping companies we use, all weights will be rounded up to the next full pound.

Related Products

Recently Viewed Products