Buckley, Ross --- "The Bankruptcy of Nations: An Idea Whose Time Has Come" [2013] UNSWLRS 46

Last Updated: 21 July 2013

The Bankruptcy of Nations: An Idea Whose Time Has Come

Ross Buckley, University of New South Wales

This paper is available for download at Available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2296533

Citation

This paper was published in 2009, 43(3) The International Lawyer, 1189-1216. This paper may be referenced as [2013] UNSWLRS 46.

Abstract

A bankruptcy regime is a central part of each national financial system. Yet no regime exists for insolvent sovereigns. As a result too much capital flows into poor countries in good times and is often repaid at the expense of the basic human rights of the poor in these countries in bad times. This paper examines the case for a sovereign insolvency regime, and considers Chapter 9 of the US Bankruptcy Code as a model for such a regime.