OXFORD UNIVERSITY PRESS

Sovereign Financing and International Law: The UNCTAD Principles on Responsible Sovereign Lending and Borrowing

ISBN : 9780199674374

参考価格(税込): 
¥19,624
著者: 
Carlos D. Esposito; Yuefen Li; Juan Pablo Bohoslavsky
関連カテゴリー
ページ
432 ページ
フォーマット
Hardcover
サイズ
163 x 236 mm
刊行日
2013年10月
メール送信
印刷

The regulation of sovereign financing is a highly topical and significant issue, in the light of continuing global financial turmoil. This book assesses the role of international law in sovereign financing, addressing this issue from both legal and economic standpoints. It takes as a starting point the recent report 'Principles on Responsible Sovereign Lending and Borrowing' by the United Nations Conference on Trade and Development (UNCTAD). This report was endorsed by the United Nations General Assembly in its December 2011 Resolution on Debt, which emphasized the need for creditors and debtors to share responsibility for preventing unsustainable debt situations and encouraged all stakeholders to pursue the ongoing discussions within the framework of the UNCTAD Initiative. Investigating the legal and economic basis for the principles which were articulated in the report, the book develops a detailed and nuanced analysis of the controversial and complex issues they raise, including those concerning finance and credit rating agencies, contingent liabilities, debt management, corruption, fiduciary relations and duties, Collective Action Clauses, and the role of the EU and UN. Ultimately, it argues that the principles elaborated in the report correspond with general principles of international law, which provide a strong, pre-existing foundation upon which to build responsible principles for sovereign financing.

目次: 

PART 1 - SETTING THE GLOBAL SCENE
1. Introduction
2. Why the Need for Promoting Principles on Responsible Sovereign Lending and Borrowing?
3. Sovereign Debt Restructurings as Exercises of Public Authority: Towards a Decentralized Sovereign Insolvency Law
PART 2 - LEGAL STATUS OF THE PRINCIPLES
4. Legal Status of UNCTAD's Principles on Responsible Sovereign Lending and Borrowing
5. Out of Thin Air? Tracing the Origins of the UNCTAD Principles in State Practice
PART 3 - COMPARATIVE STUDIES: GENERAL PRINCIPLES
6. Legal Stipulations of Sovereign Lending and Borrowing in Domestic Jurisdictions
7. The Legal Contours of Sovereign Debt Restructuring under the UNCTAD Draft Principles
PART 4 - DEBT MANAGEMENT
8. Improving Debt Management on the Basis of UNCTAD's Principles
9. UNCTAD's Principles and the United Nations Convention against Corruption. Links and joint strategies
10. Fiduciary Relations: Legal Framework and Implications for Responsible Sovereign Debt Management
11. Current EU Mechanisms to Tackle Sovereign Insolvency: An Analysis Against the Benchmark of the UNCTAD Principles
PART 5 - CHINA AS A CASE STUDY
12. China's Governmental Preferential Loans and the Performance of its Lending Responsibility - Take China Export-Import Bank as an Example
13. Debt Crisis Prevention for China as the Biggest Sovereign Creditor and the Principles
PART 6 - TWO KEY ISSUES
14. Restructuring a Sovereign's Contingent Liabilities
PART 7 - OUTLOOK AND IMPLEMENTATION
15. Producing Change in Sovereign Lending Practices
16. Implementation of the Principles on Responsible Sovereign Financing
PART 8 - CONCLUSIONS
17. Concluding Remarks in the Light of International Law

著者について: 

Carlos Esposito holds a Chair in Public International Law at the University Autonoma of Madrid and is current Vice President of the European Society of International Law. His interests extend to all aspects of international law. He has published widely, including books on the ICJ advisory jurisdiction, the WTO, the role of courts in transitional justice, and jurisdictional immunities of States and human rights.; Yuefen Li has been working in UNCTAD since 1990 and is currently its Head of Debt and Development Finance Branch. She is also a guest professor at Tsinghua University, and two other universities in China. Previously she has taught economics and economics related courses at the University of International Business & Economics in China. She has academic degrees from universities in China, the United Kingdom and the United States. She has published books, papers, and articles in professional journals and newspapers, and contributed extensively to UNCTAD publications and documents.; Juan Pablo Bohoslavsky is currently a Sovereign Debt Expert in UNCTAD working for the initiative on Responsible Sovereign Lending and Borrowing. He worked for UN ECLAC and the Argentinean government on legal issues related to sovereign debt and foreign investments. He has a bachelor in law, an LL.M. in corporate law, and a Ph.D. in Law. He was Hauser fellow at New York University and postdoctoral researcher at the Max Planck Institute in Heidelberg. His scholarship has appeared in international refereed journals.

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