Debt Defaults and Lessons from a Decade of Crises Zettelmeyer, Jeromin and Federico Sturzenegger

Zettelmeyer, Jeromin and Federico Sturzenegger

ISBN 10: 0262195534 / ISBN 13: 9780262195539

Editore: The MIT Press, 2007

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Debt Defaults and Lessons from a Decade of Crises In englischer Sprache. pages.

Codice articolo BN343348

Dati bibliografici

• Titolo: Debt Defaults and Lessons from a Decade of Crises Zettelmeyer, Jeromin and Federico Sturzenegger
• Editore: The MIT Press
• Data di pubblicazione: 2007
• Lingua: Inglese
• ISBN 10: 0262195534
• ISBN 13: 9780262195539
• Rilegatura: Rilegato
• Edizione: 2007.
• Condizione: gut
• Peso: 2000 grammi

Descrizione articolo

Riassunto

Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a comprehensive discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises.

The debt crises in emerging market countries over the past decade have given rise to renewed debate about crisis prevention and resolution. In Debt Defaults and Lessons from a Decade of Crises, Federico Sturzenegger and Jeromin Zettelmeyer examine the facts, the economic theory, and the policy implications of sovereign debt crises. They present detailed case histories of the default and debt crises in seven emerging market countries between 1998 and 2005: Russia, Ukraine, Pakistan, Ecuador, Argentina, Moldova, and Uruguay. These accounts are framed with a comprehensive overview of the history, economics, and legal issues involved and a discussion from both domestic and international perspectives of the policy lessons that can be derived from these experiences.

Sturzenegger and Zettelmeyer examine how each crisis developed, what the subsequent restructuring encompassed, and how investors and the defaulting country fared. They discuss the new theoretical thinking on sovereign debt and the ultimate costs entailed, for both debtor countries and private creditors. The policy debate is considered first from the perspective of policymakers in emerging market countries and then in terms of international financial architecture. The authors' surveys of legal and economic issues associated with debt crises, and of the crises themselves, are the most comprehensive to be found in the literature on sovereign debt and default, and their theoretical analysis is detailed and nuanced. The book will be a valuable resource for investors as well as for scholars and policymakers.

Informazioni sull'autore

Federico Sturzenegger is President of the Banco Ciudad de Buenos Aires. He is the coauthor, with Jeromin Zettelmeyer, of Debt Defaults and Lessons from a Decade of Crises (MIT Press, 2007).

Jeromin Zettelmeyer is Assistant to the Director of the Western Hemisphere Department at the International Monetary Fund.