International debt crises: new instruments designed to restructure sovereign bond issues

Abstract: "The frequency with which international financial crises have occurred since the mid-1990s (Asia 1997, Russia 1998, Brazil 1999, and Argentina 2001) points to the need to reform the international financial architecture. The emergence of and the unregulated approaches used to resolve financial crises lead to major welfare losses in the countries affected and constitute a risk to the stability of the international financial system. Instruments tailored to restructuring sovereign foreign debt therefore constitute an essential element of the international financial architecture. However, these mechanisms have not been developed in keeping with the farreaching upheavals which globalization have entailed for the international financial markets. One important feature of the expansion of globalization in the 1990s was a huge rise in and an altered structure of international capital flows. Sovereign bond issues held by heterogeneous groups of creditors assumed an entirely new significance i

Object Details

• Alternative title: Internationale Verschuldungskrisen: neuere Instrumente zur Umstrukturierung von Staatsanleihen
• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource, 4 S.
• Language: Englisch
• Notes: Veröffentlichungsversion

References and Relationships

• Bibliographic citation: Briefing Paper ; Bd. 4/2003

Classification and Topics

• Classification: Wirtschaft

Contributors, Places and Time

• Event: Veröffentlichung
• (where): Bonn
• (when): 2003
• Creator: Berensmann, Kathrin
• Contributor: Deutsches Institut für Entwicklungspolitik gGmbH

Further information

• URN: urn:nbn:de:0168-ssoar-194628
• Rights: Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 15.08.2025, 7:33 AM CEST