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Alternative Solutions to the Odious Debt Problem

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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," IHEID Working Papers 02-2020, Economics Section, The Graduate Institute of International Studies.
    • Handle: RePEc:gii:giihei:heidwp02-2020
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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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