Sovereign Debt and International Financial Control

This book provides a history of sovereign debt, defaults and international financial control in the Middle East and the Balkans between 1870 and 1914.

Contenu
1 Introduction
2 Governing Sovereign Debt: Defaults And Enforcement, 1870-1914
2.1 Origins Of Defaults: Financial And Monetary Constraints
2.2 Costs Of Defaults: Enforcement And Conditionality
2.2.1 Direct Sanctions And Preventing Access To Future Credit
2.2.2 Protective Clauses And Bondholder Committees
2.2.3 Assignment And Control Of Future Revenues
2.3 Summary And Conclusions
3 From Financial Control To Colonisation: Egypt, 1862-1914
3.1 Khedives As Borrowers: Crisis, Default And Punishment
3.2 The Loss Of Political Sovereignty And Imperial Rivalry
3.3 Summary And Conclusions
4 From ''Financial Barbarism'' To Cooperation: The Ottoman Empire, 1854-1914
4.1 Lending To The Sick Man Of Bond Markets
4.2 The Loss Of Fiscal Sovereignty And Cooperation
4.3 Summary And Conclusions
5 From Fiscal Control To Financial Supervision: Serbia, 1878-1914
5.1 A Newborn State Surrounded By Foreign Creditors
5.2 Financial Control In A ''Land Of Monopolies''
5.3 Summary And Conclusions
6 From Financial Supervision To Political Resistance: Greece, 1879-1914
6.1 Financial Isolation And Settlement: A History Of Defaults
6.2 Refining The Control And ''Mistrust'' To Creditors
6.3 Summary And Conclusions
7 International Financial Control And Sovereign Risk
7.1 Determinants Of Sovereign Risk Before 1914: A Critical Review
7.2 Measuring Sovereign Risk: Sources And Methodology
7.3 Structural Breaks In Spread: The Bai-Perron Test
7.4 Summary And Conclusions
8 Debt, Default And Resistance: Political Economy Of Ifcs
8.1 Fiscal Capacity, Political Regimes And Tax Systems: A Review
8.1.1 Taxation Vs Representation
8.1.2 Direct Vs Indirect Taxes
8.1.3 Political Regime Type And Public Debt
8.1.4 Foreign Rule: Resistance Vs Cooperation
8.1.5 Conclusion
8.2 Varying Degrees Of Success And The Extent Of Control
8.3 Political Institutions And Tax Systems In The Middle East And The Balkans
8.4 Summary And Conclusions
9 Conclusion
Bibliography
Data Appendix