John O. S. Wilson of the University of St. Andrews reviews “Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises,” edited by Martin Guzman, José Antonio Ocampo, and Joseph E. Stiglitz. The Econlit abstract of this book begins: “Fifteen papers, most originally presented at the conference 'Frameworks for Sovereign Debt Restructuring' held at Columbia University in November 2014, examine general issues and goals of debt restructuring as well as the deficiencies of the current nonsystem, focusing on an analysis of the resolution of Argentina's and Greece's debt crises, possible improvements in the contractual approach, and specific implementation proposals for a multinational formal framework.”
The International Architecture for Resolving Sovereign Debt Involving Private-Sector Creditors—Recent Developments, Challenges, And Reform Options
