BITs & Bonds
The International Law and Economics of Sovereign Debt
Bibliographic Data
| ID | 9549200 |
|---|---|
| Authors | Stratos Pahis (New York University, corresponding author) |
| Year | 2021 |
| Volume | 115 |
| Issue | 2 |
| Pages | 242-280 |
| Publication date | 2021-04-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | American Journal of International Law (JOURNAL) |
| Journal identifiers | ISSN: 0002-9300 • E-ISSN: 2161-7953 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/ajil.2021.1 |
| OpenAlex | W3127410372 |
| Language | EN |
| References cited | 3 |
Recent jurisdictional decisions suggest that sovereign debt will be subject to bilateral investment treaties (BITs) for the foreseeable future. This Article argues that applying BITs to sovereign bonds threatens to undermine the core economic function of those treaties by encouraging inefficient state and creditor behavior and raising the overall cost of sovereign debt. It further argues that this concern can be addressed through an interpretative approach that leads to the equal treatment of like creditors
Bond · Business · Creditor · Debt · Economics · Financial system · International economics · Investment (military · Law and economics · Political science · Sovereign debt · Sovereignty · State (computer science · Finance · Human Rights and Development · International Arbitration and Investment Law · Law · State Capitalism and Financial Governance
| Citation velocity | historical |
|---|---|
| Highly cited | No |