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Learning the Hardest Way: The Pedagogy of Sovereign Debt Crises

Learning the Hardest Way: The Pedagogy of Sovereign Debt Crises 1IntroductionSovereign debt crises are episodes that leave long-term scars in countries and their population. Historically speaking, they are far from being recent phenomena, and the different ways in which these events have unfolded across time and space illustrate idiosyncratic institutional, financial, political, and legal conditions, and the sovereign-borrower and lender relationship reflects a broad spectrum of risk-taking appetitesIn spite of such heterogeneous scenarios, Sovereign Debt Crises. What Have We Learned? aims to systematise experiences by meticulously delving into the particulars of a broad range of nations, but focusing at the same time on common denominators in order to draw key policy lessons. In fact, one of the most valuable aspects of the book is that it covers a wide array of cases regarding both, time and geographic dimensions: the former because it analyses cases that precede the Global Financial Crisis (and its EU mutation into a Sovereign Debt Crisis), and the latter given that it encompasses not only the recently beaten Western European countries, but also Latin American, African, and Asian cases as well.In particular: Argentina and its proliferating debt built-up since the mid-1970s and latest saga against the so called vulture funds; Brazil and its key lesson that http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Accounting, Economics and Law de Gruyter

Learning the Hardest Way: The Pedagogy of Sovereign Debt Crises

del Barrio Arleo, M. Cecilia
Accounting, Economics and Law , Volume 13 (1): 10 – Feb 1, 2023
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Publisher
de Gruyter
Copyright
© 2019 Walter de Gruyter GmbH, Berlin/Boston
ISSN
2151-2820
eISSN
2152-2820
DOI
10.1515/ael-2019-0005
Publisher site
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Abstract

1IntroductionSovereign debt crises are episodes that leave long-term scars in countries and their population. Historically speaking, they are far from being recent phenomena, and the different ways in which these events have unfolded across time and space illustrate idiosyncratic institutional, financial, political, and legal conditions, and the sovereign-borrower and lender relationship reflects a broad spectrum of risk-taking appetitesIn spite of such heterogeneous scenarios, Sovereign Debt Crises. What Have We Learned? aims to systematise experiences by meticulously delving into the particulars of a broad range of nations, but focusing at the same time on common denominators in order to draw key policy lessons. In fact, one of the most valuable aspects of the book is that it covers a wide array of cases regarding both, time and geographic dimensions: the former because it analyses cases that precede the Global Financial Crisis (and its EU mutation into a Sovereign Debt Crisis), and the latter given that it encompasses not only the recently beaten Western European countries, but also Latin American, African, and Asian cases as well.In particular: Argentina and its proliferating debt built-up since the mid-1970s and latest saga against the so called vulture funds; Brazil and its key lesson that

Journal

Accounting, Economics and Law – de Gruyter

Published: Feb 1, 2023

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