In 1960, there were 101 middle-income countries. By 2008, only thirteen of these had become high-income countries. Why do so many middle-income countries fail to develop after a promising start, becoming mired in the so-called middle-income trap? This interdisciplinary volume addresses the...

The problem of odious debt typically arises when a despotic regime has incurred substantial sovereign debt and is then succeeded by a less-despotic, possibly democratic, regime that seeks to repudiate that debt. There is no agreed-upon method for dealing with attempts to repudiate odious debt....