[PDF] Legitimacy In Global Governance Of Sovereign Default eBook

Author : Odette Lienau
Publisher : Harvard University Press
Page : 342 pages
File Size : 17,62 MB
Release : 2014-02-18
Category : Business & Economics
ISBN : 0674726405

GET BOOK

Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its obligations damages its reputation. Yet should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses? Rethinking Sovereign Debt is a probing analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or else expect consequences--became dominant. Odette Lienau contends that the practice is not essential for functioning capital markets, and demonstrates its reliance on absolutist ideas that have come under fire over the last century. Lienau traces debt continuity from World War I to the present, emphasizing the role of government officials, the World Bank, and private markets in shaping our existing framework. Challenging previous accounts, she argues that Soviet Russia's repudiation of Tsarist debt and Great Britain's 1923 arbitration with Costa Rica hint at the feasibility of selective debt cancellation. Rethinking Sovereign Debt calls on scholars and policymakers to recognize political choice and historical precedent in sovereign debt and reputation, in order to move beyond an impasse when a government is overthrown.

Author : Biagio Bossone
Publisher : Cambridge Scholars Publishing
Page : 435 pages
File Size : 12,24 MB
Release : 2014-07-03
Category : Law
ISBN : 1443863394

GET BOOK

Coping with the challenges of global economic governance is a topical issue of the current international agenda, and the object of a vivid debate among scholars and policy-makers. The international financial and economic crisis that erupted in 2007 reveals the fallibility of the neoliberal paradigm that has dominated the world economic landscape for the last quarter of a century; regulatory and supervisory institutions have disclosed their weaknesses, and markets have shown their limits in dealing with the rational allocation of risks, and their lack of resilience to shocks. This book offers a comprehensive view of this matter, examining the dialectic and fluid relations between State sovereignty, supranational rules and the role of markets. The opportunity to deal with economic and regulatory challenges through the lens of legitimacy and effectiveness is the fil rouge of the co-authors’ original contributions and the inner-sense of the book. This critical perspective results particularly in investigating gaps and ambiguities of the institutional framework currently underpinning the major international economic organisations (IMF, WTO, G20, EMU), in re-discussing the State’s regulatory role in coping with the challenges of the global economy, and in studying the contradictory interactions between financial paradigms and sustainability with regards to economic development policies.

Author : Gordon L. Clark
Publisher : Princeton University Press
Page : 236 pages
File Size : 43,30 MB
Release : 2013-07-21
Category : Business & Economics
ISBN : 0691142297

GET BOOK

The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.

Author : Kei Nakajima
Publisher : Cambridge University Press
Page : 381 pages
File Size : 37,25 MB
Release : 2022-09-22
Category : Business & Economics
ISBN : 1009250027

GET BOOK

This book fills the normative gap arising from the absence of a multilateral mechanism for sovereign debt restructuring.

Author : Office of the Director of National Intelligence (U.S.)
Publisher : Government Printing Office
Page : 116 pages
File Size : 37,96 MB
Release : 2013-08-15
Category : Political Science
ISBN : 0160920639

GET BOOK

"Global Trends 2025: A Transformed World" is the fourth unclassified report prepared by the National Intelligence Council (NIC) in recent years that takes a long-term view of the future. It offers a fresh look at how key global trends might develop over the next 15 years to influence world events. Our report is not meant to be an exercise in prediction or crystal ball-gazing. Mindful that there are many possible "futures," we offer a range of possibilities and potential discontinuities, as a way of opening our minds to developments we might otherwise miss. (From the NIC website)

Author : John Keane
Publisher : Cambridge University Press
Page : 240 pages
File Size : 26,1 MB
Release : 2003-04-17
Category : Political Science
ISBN : 9780521894623

GET BOOK

John Keane, a leading scholar of political theory, tracks the recent development of a big idea with fresh potency - global civil society. In this timely book, Keane explores the contradictory forces currently nurturing or threatening its growth, and he shows how talk of global civil society implies a political vision of a less violent world, founded on legally sanctioned power-sharing arrangements among different and intermingling forms of socio-economic life. Keane's reflections are pitted against the widespread feeling that the world is both too complex and too violent to deserve serious reflection. His account borrows from various scholarly disciplines, including political science and international relations, to challenge the silence and confusion within much of contemporary literature on globalisation and global governance. Against fears of terrorism, rising tides of xenophobia, and loose talk of 'anti-globalisation', the defence of global civil society mounted here implies the need for new democratic ways of living.