sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor …" applicable to future defaults. Poorer countries, first-time debt issuers, and those that borrowed heavily from external creditors …

has proved hard to handle is how they in influence the behavior of creditors and debtors. We address such challenge by …

-established deadlines, similar to that used in the World Trade Organization's dispute settlement process. …