Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a comprehensive discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises.

Intro -- Contents -- Acknowledgments -- Preface to the Paperback Edition -- Prologue: The Quest -- I - Why Growth Matters -- 1 - To Help the Poor -- Intermezzo: In Search of a River -- II - Panaceas That Failed -- 2 - Aid for Investment -- Intermezzo: Parmila -- 3 - Solow's Surprise: Investment...