Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • November 2006 (Revised May 2007)
  • Background Note
  • HBS Case Collection

International Capital Markets and Sovereign Debt: Crisis Avoidance and Resolution

By: Laura Alfaro and Ingrid Vogel
  • Format:Print
  • | Pages:27
ShareBar

Abstract

Successive economic crises of the 1990s and early 2000s intensified focus on reform of the "international financial architecture." Because many of these crises involved defaults on sovereign bonds, an important component of the discussion revolved around the composition of international capital flows and sovereign debt restructuring. With the official sector, private creditors, and sovereign debtors focused on different issues, proposals surrounding the topic varied widely. Describes some of the proposals and summarizes scholarship on their advantages and disadvantages.

Keywords

Capital; Markets; Sovereign Finance; Conflict and Resolution; Financial Crisis

Citation

Alfaro, Laura, and Ingrid Vogel. "International Capital Markets and Sovereign Debt: Crisis Avoidance and Resolution." Harvard Business School Background Note 707-018, November 2006. (Revised May 2007.)
  • Educators
  • Purchase

About The Author

Laura Alfaro

General Management
→More Publications

More from the Authors

    • 2025
    • Faculty Research

    Trade and Industrial Policy in Supply Chains: Directed Technological Change in Rare Earths

    By: Laura Alfaro, Harald Fadinger, Jay Schymik and Gede Virananda
    • 2025
    • Faculty Research

    Trade Within Multinational Boundaries

    By: Laura Alfaro, Paola Conconi, Fariha Kamal and Zachary Kroff
    • 2025
    • Faculty Research

    Bank Financing of Global Supply Chains

    By: Laura Alfaro, Mariya Brussevich, Camelia Minoiu and Andrea Presbitero
More from the Authors
  • Trade and Industrial Policy in Supply Chains: Directed Technological Change in Rare Earths By: Laura Alfaro, Harald Fadinger, Jay Schymik and Gede Virananda
  • Trade Within Multinational Boundaries By: Laura Alfaro, Paola Conconi, Fariha Kamal and Zachary Kroff
  • Bank Financing of Global Supply Chains By: Laura Alfaro, Mariya Brussevich, Camelia Minoiu and Andrea Presbitero
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College.