Successive economic crises of the 1990s and early 2000s increased focus on reforming the “international financial architecture.” Because many of these crises involved failures in government bonds, an important part of the discussion about the composition of international capital flows and the restructuring of sovereign debt turned. With the official sector, private creditors and sovereign debtors focuses on various topics, proposals vary widely around the subject. Describes some of the … Read more »

Successive economic crises of the 1990s and early 2000s increased focus on reforming the “international financial architecture.” Because many of these crises involved failures in government bonds, an important part of the discussion about the composition of international capital flows and the restructuring of sovereign debt turned. With the official sector, private creditors and sovereign debtors focuses on various topics, proposals vary widely around the subject. Describes some of the proposals and summarizes scholarship on their advantages and disadvantages.
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Laura Alfaro,
Ingrid Vogel
27 pages.
Release Date: 2 November 2006. Prod #: 707018-PDF-ENG
International Capital Markets and debt crisis: crisis prevention and resolution HBR case solution

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