Sovereign Debt

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The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Sovereign Debt takes a comprehensive look at the key themes surrounding this topic, namely how sovereign debt works and how it affects our world. Sovereign borrowing has been around as long as there have been states. And while the history of sovereign debt may include many episodes of default, it is essential to our future financial and societal stability. Filled with in-depth insights and expert advice, this timely guide contains some of the most cutting-edge thinking on sovereign debt. Page by page, it clearly covers a wide array of issues, from defaults and restructurings to the opportunities and dangers of sovereign debt in today's globalized financial arena. Divided into seven comprehensive sections, this volume will help you gain a deeper understanding of sovereign debt, through discussions of: * The overarching theory of sovereign debt and the levels of debt nations can sustain * Sovereign debt and financial crises * The management of sovereign debt and the interaction between sovereign debt and other obligations of the state, such as pensions * How changes in sovereign debt ratings affect stock markets * The legal and contractual dimensions of restructurings and defaults * Whether sovereign defaulters are really punished While the saga of sovereign debt has many chapters, understanding them is now more important than ever. Engaging and informative, this timely guide will help you put many of the issues associated with this area of international finance in perspective.