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Bankruptcy proceedings for sovereign state insolvency and their effect on capital flows

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  • Thomas, Jonathan P.

Abstract

The paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by which domestic bankruptcy procedures operate, and the extent to which they apply to international lending. Two recent proposals are considered in more detail, that of Krueger ('A New Approach to Sovereign Debt Restructuring') and that of Pettifor ('Resolving International Debt Crises - The Jubilee Framework for International Insolvency').
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  • Thomas, Jonathan P., 2004. "Bankruptcy proceedings for sovereign state insolvency and their effect on capital flows," International Review of Economics & Finance, Elsevier, vol. 13(3), pages 341-361.
    • Handle: RePEc:eee:reveco:v:13:y:2004:i:3:p:341-361
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    2. Paul Bedford & Gregor Irwin, 2008. "Financial Stability Paper No 4: Reforming the IMF's Lending-into-Arrears Framework," Bank of England Financial Stability Papers 4, Bank of England.

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    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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