title: Bankruptcy Procedures for Sovereign Debtors
creator: Makipaa, Arttu
subject: 330
subject: 330 Economics
description: The idea of bankruptcy for insolvent sovereign borrowers has been under discussion for a long time, yet has never been implemented. This paper presents various proposed solutions to apply bankruptcy reorganization principles to sovereign debt crises. The current international framework is inadequate and lacks the efficiency of a working bankruptcy system. This paper analyses the case for an international institutional arrangement to deal with sovereign debt problems considering underlying problems in sovereign credit markets. It finds that certain well-designed sovereign bankruptcy procedures may be one step toward a better international institutional arrangement. However, in order to have any chance to be successful these procedures need to be complemented by a broad set of (international) policy measures in other areas.
date: 2003
type: Master's thesis
type: info:eu-repo/semantics/masterThesis
type: NonPeerReviewed
format: application/pdf
identifier: https://archiv.ub.uni-heidelberg.de/volltextserverhttps://archiv.ub.uni-heidelberg.de/volltextserver/3432/1/Bankruptcy_Procedures_for_Sovereign_Debtors.pdf
identifier: DOI:10.11588/heidok.00003432
identifier: urn:nbn:de:bsz:16-heidok-34327
identifier:   Makipaa, Arttu  (2003) Bankruptcy Procedures for Sovereign Debtors.  [Master's thesis]     
relation: https://archiv.ub.uni-heidelberg.de/volltextserver/3432/
rights: info:eu-repo/semantics/openAccess
rights: http://archiv.ub.uni-heidelberg.de/volltextserver/help/license_urhg.html
language: eng