Preview
Reviews the modern debate on the international financial architecture. Reviews the financial crisis in Korea during 1997–98, which marked a watershed in the debate and encouraged policymakers to advocate debt standstills, collective action clauses, and statutory Sovereign Debt Restructuring Mechanisms (SDRM) as ways of tackling creditor coordination problems.
Keywords: collective action clauses; Korean financial crisis; SDRM; sovereign debt standstill
Chapter. 3152 words. Illustrated.
Subjects: Financial Markets
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