Early Ideas on Sovereign Bankruptcy Reorganization : A Survey

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief reference to the formal economics literature on sovereign debt. Beginning with a paper by Oechsli (1981), several key contributions are made during this period, including the analogy with domestic bankruptcy procedures, an understanding of the inefficiencies in international lending that might justify such procedures, and specific institutional and legal suggestions that continue to play a role in the current debate.
Publication date: March 2002
ISBN: 9781451847789
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International - Economics , International - Economics , Judicial Power , Judicial Power , Sovereign Bankruptcy , Debt Crises , International Bankruptcy Court , Chapter 11 , sovereign debt , court , debt restructuring , debt crisis , international debt , History of Thought since 1925: Other , History of Thought: Individuals: General , International Economic Order , In

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