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Restructuring Sovereign Debt [PDF]
Journal of Economic Perspectives, 2003 This paper provides new empirical evidence relevant to the debate over the desirability of reforms to the way that financial markets and the international community deal with sovereign debt crises. In particular, given the ongoing opposition of investors and some sovereigns to greater use of collective action clauses (CACs) in emerging market bonds, we
Barry Eichengreen
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Informal creditors and sovereign debt restructuring. [PDF]
Indian Econ Rev, 2023 Ghosal S, Thomas D.
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Determinants of Complexity of Sovereign Debt Negotiation [PDF]
Journal of Economics and Management, 2016 The situation on all kinds of financial markets is determined by their increasing complexity. Negotiation of sovereign debt is also a complex endeavor.
Lidia Mesjasz, Czesław Mesjasz
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Political Connections, Debt Restructuring, and Enterprise Investment: Evidence from China
Discrete Dynamics in Nature and Society, 2020 This paper shows that the link between debt restructuring and enterprise investment in emerging economies hinges critically on the political connections.
Xinlin Mo, Jinglu Jiang
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Restructuring Sukuk for default risk management based on Shariah principles [PDF]
جستارهای اقتصادی, 2020 Islamic securities, like conventional bonds, are not safe from default. Therefore, it is important to provide solutions to manage this type of risk in the structure of Sukuk.
mohammad tohidi
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DIPLOMACY, DEBT, AND CHANGE: THE INTERNATIONAL DEBT ARCHITECTURE AFTER THE COVID-19 PANDEMIC
Revista Tempo do Mundo, 2022 The article argues that the response from the Group of Twenty (G20) and the Paris Club to the covid-19 pandemic in the field of sovereign debt marks a turning point in the international debt architecture.
Osvaldo Quirino de Souza Filho
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Greek Debt: The Endgame Scenarios [PDF]
, 2011 Perhaps Greece -- a country with a debt to GDP already approaching 150 percent and set to move even higher -- avoids a debt restructuring. Perhaps not.
Buchheit, Lee C., Gulati, Mitu
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Review of Financial Studies, 2000 We analyze a distressed firm indebted to many creditors. The firm's owners have the option of choosing the sequence of restructuring negotiations with the creditors. We show that sequencing flexibility is beneficial to firm owners, and that the optimal sequencing of restructuring negotiations involves exploiting the firm's liabilities to some creditors
Noe, T, Wang, J
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Debt Restructuring in Transition
SSRN Electronic Journal, 2022 Discusses the impact of Brexit and the Corporate Insolvency and Governance Act 2020 on UK debt restructuring, including a move to a more pro-debtor regime, the creation of a modular system, a blurred distinction between insolvency and restructuring, and a cross-border regime of growing complexity.
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, 2000 What difference does it make, and for whom, whether the nonperforming debts of emerging market borrowers are restructured? This paper begins by positing a set of counterfactual conditions under which restructuring would not matter, and then shows how several ways in which the actual world of international lending departs from these conditions give both
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