Nicolaus Tideman (Virginia Polytechnic Institute & State University) Sharon Lockwood (American University)
Abstract
There is a need for an impartial international tribunal to consider requests for approval of repudiations of developing nations' debts. At present, debt relief is available as largess from the "Paris Club" of creditor nations or the "London Club" of commercial banks, but a nation that is treated unfairly has only the recourse of unilateral repudiation, which is subject to bias from self-interest. There is no impartial forum in which disagreements can be adjudicated. This paper explores the legal principles that might justify approval of repudiations of such debts, thereby advancing both economic efficiency and social justice.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Contact details of provider: Postal: c/o Iona College, 715 North Avenue, New Rochelle, New York 10801-1890 USA Phone: (914) 633-2088 Fax: (914) 633-2549 Email: Web page: http://www.iona.edu/eea/ More information through EDIRC