Dissertation > Excellent graduate degree dissertation topics show

Study on the Legal Matters of Sovereign Debt Restructuring

Author: DongLinLin
Tutor: WangHuHua
School: East China University of Political Science
Course: International law
Keywords: Sovereign debt Sovereign debt restructuring Collective action clauses Sovereign debt restructuring mechanism
CLC: D992
Type: Master's thesis
Year: 2010
Downloads: 238
Quote: 0
Read: Download Dissertation

Abstract


With the late 1980s emerging market countries, the outbreak of the debt crisis, bank by the Brady Plan \The one hand, the bonds become the main form of state financing of the international capital market run more effective and conducive to risk diversification and diversification of the Bondholders; On the other hand, when the countries facing unsustainable debt, bond financing will bring a series of questions. A large number of bondholders, more diverse identity, the distribution is highly fragmented, and in the process of financing the debt instruments used by the sovereign state is more diverse, which gave sovereign debt restructuring unprecedented challenges. The problems faced in the existing sovereign debt restructuring program, the international community put forward a program of improvements sovereign debt restructuring program. Sovereign debt restructuring contract by modifying the terms of the contract of the existing sovereign bonds or the introduction of collective action clauses in new debt contracts, limiting the ability of minority creditors obstacle for a potential sovereign debt restructuring process, so that the sovereign debt restructuring has certain sequence and predictability. Despite the U.S. Treasury Department's support and recognition of the international capital markets, but the collective action clauses can not fundamentally solve the problem of sovereign debt restructuring now. IMF's sovereign debt restructuring mechanism (SDRM), by modifying the terms of the agreement of the IMF or sign a new international treaty to establish a predictable solution to the problem of sovereign debt restructuring framework to enhance the debtor and the creditor is not sustainable debt restructuring power to reach a rapid and efficient protocol, so that the debt restructuring process \However, due to various reasons, the SDRM did not get the support of the emerging market countries or their creditors. Taking into account the different political needs of individual debtor countries, different pressures and different debt structure, expect the international community to develop a unified, all-inclusive, and is one-size-fits-sovereign debt restructuring mechanism is unrealistic to expect the international society to adapt quickly to the set of restructuring mechanism is not feasible. At this stage, allowing the debtor countries to some extent designed to meet the special circumstances of the legal framework of the sovereign debt restructuring may be more politically feasible. Allows the debtor to make gradual changes to the country's debt restructuring program, the international community also able to audit the terms of the debt restructuring treaty can be used to assess the response of the market to these terms, separated from the formal treaty drafting process. However, the for elastic SDRM choice, does not mean that collective action clauses will immediately exit the field of sovereign debt restructuring. As a more flexible method of debt restructuring, the undeniable superiority of collective action clauses, taking into account the countries concerned inert fundamental reform in this area of ??collective action clauses, can be expected to continue in the future for a long time play its role.

Related Dissertations

  1. Correlation of the debt crisis and currency crisis,F821;F224
  2. Mysteries of the European sovereign debt crisis and its rescue,F815
  3. Sovereign debt crisis of the euro area member states,F815
  4. The Analysis of Sovereign Risk Based on Sovereign Debt Crisis,F224
  5. European sovereign debt crisis on China 's revelation,F124
  6. An Empirical Study on Sovereign Debt Maturity Structure in Eurozone,F815
  7. Research on the Risk of China’s Sovereign Debt and Its Precaution,F812.5
  8. Research on the European sovereign debt crisis,F224
  9. On the Statutory Approach to Sovereign Debt Restructuring,D996
  10. Shaanxi Province Government Foreign Debt Risk Control Mechanism,F812.5
  11. The Analysis of the Occurrence, Propagation and Countermeasures of the Euro Zone Sovereign-Debt Crisis,F835
  12. Mode of sovereign debt restructuring,D996
  13. The Cause and Enlightment of the European Sovereign Debt Crisis,F815
  14. Study on the Legal Matters of Sovereign State Insolvency,D99
  15. European sovereign debt crisis : causes, effects and Inspiration,F815
  16. European sovereign debt crisis of the,F815
  17. European Sovereign debt Crisis: Its Evolution, Impact and Prospects,F835
  18. Sovereign Debt Crisis Analysis in the Perspective of Contingent Liabilities,F811.5
  19. The Greek Sovereign Debt Crisis:Causes, Solutions and Inspiration,F815.45
  20. Sovereign Debt Crisis and Currency Crisis,F831.59

CLC: > Political, legal > Legal > International law > Country
© 2012 www.DissertationTopic.Net  Mobile