A Skeptic's Case for Sovereign Bankruptcy
Georgetown University Law Center
April 9, 2013
Houston Law Review, Vol. 50, pp. 1095-1127, 2013 Forthcoming
American University, WCL Research Paper No. 2013-02
This essay describes fundamental flaws in the sovereign debt restructuring regime, but questions the prevailing arguments for sovereign bankruptcy. I conclude that efficient debt outcomes may well come about without bankruptcy, but that a statutory regime is necessary to achieve sovereign autonomy and political legitimacy.
Number of Pages in PDF File: 34
Keywords: sovereign debt, debt restructuring, sovereign bankruptcy, SDRM
JEL Classification: F34Accepted Paper Series
Date posted: January 9, 2013 ; Last revised: October 18, 2013
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