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Alternative Solutions to the Odious Debt Problem

Author

Listed:
  • Mitu Gulati

    (Duke Law School)

  • Ugo Panizza

    (The Graduate Institute Geneva & CEPR)

Abstract

The doctrine of state succession requires that governments honor the international commitments of their predecessors. Even if a dictator borrows to oppress his own citizens, future generations are required to service the debts and commitments contracted by the dictator. This paper starts by briefly describing possible exceptions to this doctrine by focusing on war and hostile debts. Next, the paper reviews the literature on odious debt and discusses two proposals that could address this issue by using domestic legal principles.

Suggested Citation

  • Mitu Gulati & Ugo Panizza, 2020. "Alternative Solutions to the Odious Debt Problem," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 54(1), pages 153-168, June.
    • Handle: RePEc:fle:journl:v:54:y:2020:i:1:p:153-168
    DOI: 10.26331/1104
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    Cited by:

    1. Choi, Mi Jin & Kim, Jangmin & Roper, Ayla & LaBrenz, Catherine A. & Boyd, Reiko, 2021. "Racial disparities in assignment to alternative response," Children and Youth Services Review, Elsevier, vol. 125(C).

    More about this item

    Keywords

    Odious Debt; Sovereign Default; Sovereign Debt.;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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