Decolonization and Sovereign Debt: A Quagmire

University of Cambridge Faculty of Law Research Paper No. 15/2019

Sovereign Debt Diplomacies (Flores Zendejas and Penet (eds), Oxford University Press)

26 Pages Posted: 9 Jun 2019 Last revised: 6 Mar 2020

See all articles by Michael Waibel

Michael Waibel

University of Vienna - Faculty of Law

Date Written: 2020

Abstract

The phenomenon of State succession is one of the most complex, challenging and politicised areas of international law and policy — covering diverse questions such as membership in international organizations, nationality, state responsibility, treaties, property, debts and state archives. A particularly controversial aspect of decolonization after World War II was its effect on private property. During decolonization after World War II, state succession into debt became torn between the theory of universal succession and the clean-slate theory. The theory of universal succession and the clean-slate theory are extreme positions on a spectrum that came to the fore at the height of decolonisation in the 1960s and 1970s. The tension between two stylizes schools on state succession into debt is the subject of this paper.

Keywords: decolonisation, state succession, self-determination, public debt, Mohamed Bedjaoui, Daniel Patrick O’Connell

JEL Classification: F34, H63, K33

Suggested Citation

Waibel, Michael, Decolonization and Sovereign Debt: A Quagmire (2020). Sovereign Debt Diplomacies (Flores Zendejas and Penet (eds), Oxford University Press) . Available at SSRN: https://ssrn.com/abstract=3400115 or http://dx.doi.org/10.2139/ssrn.3400115

Michael Waibel (Contact Author)

University of Vienna - Faculty of Law ( email )

Schottenbastei 10-16
Vienna, A-1010
Austria

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