Successive economic crises of the 1990s and early 2000s, intensified focus on reform "of the international financial architecture." Since many of these crises involving defaults on sovereign bonds, an important component of the debate revolved around the composition of international capital flows and sovereign debt restructuring. In the formal sector, private creditors and sovereign debtors are aimed at various issues surrounding the topic suggests differently. Describes some of the proposals and summarizes scholarship on their advantages and disadvantages. "Hide
by Laura Alfaro, Ingrid Vogel, 27 pages. Publication Date: November 2, 2006. Prod. #: 707018-PDF-ENG
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