Argentinien erlebte in der Jahren 2001 und 2002 die schwerste Wirtschaftskrise seiner jüngeren Geschichte. Doch auch … dominierenden strukturalistischen Ansätze, noch die neoklassischen Erklärungsbeiträge, die seit den 80er Jahren auch in Argentinien … Anwendbarkeit für die Erklärung des Fallbeispiels Argentinien einschränken. Sie beleuchten zwar jeweils wichtige Aspekte des …

, eds.), provides an introduction to the law and economic theory relating to creditors and debt governance.The chapter …, the effect of an illiquid credit market on creditors’ reliance on covenants and monitoring. It then turns to changes in …

bring down the world financial system. This is a growing problem: as finance becomes more intertwined, the potential for a …

why they change so rarely. This line of inquiry painted a world where a standard term persists until it is dislodged by …

Default on sovereign debt is a form of political risk. Issuers and creditors have responded to this risk both by … strengthening the terms in sovereign debt contracts that enable creditors to enforce their debts judicially and by creating terms … incomplete contracting problem in which debtors need to be forced to repay debts in good states of the world; debtors need to be …

states of nature, let shareholders and senior creditors decide jointly, and provides a rationale for the existence of junior …

haircut for private creditors in history can be at least partially related to an assurance game played by creditors. It shows … restructuring process are not equal. In the case of Argentina, the inclusion of Collective Action Clauses in the defaulted bonds … could have benefited the holdout creditors.Essay II: Experience from events of sovereign debt restructuring over the last …