The Inaugural Politics of Sovereign Finance Conference

Date
Apr 17, 2024Apr 18, 2024
Location
SPIA in DC, 1333 New Hampshire Avenue, Washington, DC

Details

Event Description

This conference brought together scholars, policymakers and private sector participants to consider contemporary issues in the realm of sovereign finance. We focused on the domestic and international politics related to governments' financing priorities and decisions; choices among creditors; and debt restructuring and default. We sought to combine discussions of academic research with insights from practitioners.

View participants list here.  Read the post-event summary.

 

Schedule

Only presenting authors listed. See posted papers for full author details.

 

Wednesday, April 17

2:00pm

Welcome

 

The Domestic and International Political Economy of Sovereign Finance
Layna Mosley, Princeton University

Ideology and Borrowing | Elections and Volatility | Choices among Creditors     

2:15pm

The Domestic and International Politics of Access and Default

 

Chair: Jonathan Goulden (JP Morgan)

Cameron Ballard-Rosa (UNC Chapel Hill), Politically Feasible Sovereign Finance

Peter Rosendorff (New York University), Paris Club Sovereign Debt Restructuring and the Rise of China

Lauren Ferry (University of Mississippi), Crises and Consequences: The Role of U.S. Support in International Bond Markets

3:45pm

Break

4:00pm

Reforming Global Finance

 

Chair: Penelope Hawkins (UNCTAD)

Anna Gelpern (Georgetown Law School), Public Debt under the Guardianship of the Constitution.

Martin Kessler (Finance for Development Lab), Dealing with Liquidity Crises: the Bridge Proposal

Theo Maret (Global Sovereign Advisory), Comparability of Treatment

David Mihalyi (World Bank), Debt for Development Swaps: A Financial Assessment Framework

5:30pm

Reception

 

Thursday, April 18

8:30am

Coffee and Pastries

9:00am

China’s Role in Sovereign Finance

 

Chair: Yannis Manuelides (Director, Elmar Advisors; Consultant and former partner, Allen & Overy LLP)

Deborah Brautigam (Johns Hopkins University), Integrating China into Multilateral Debt Relief Short version | Long version

Brad Parks (AidData/College of William and Mary), Belt and Road Reboot: Beijing's Bid to De-Risk Its Global Infrastructure Initiative

Andrea Presbitero (IMF), The HIPC Initiative and China’s Emergence as a Lender: Post Hoc or Propter Hoc?

Alexandra Zeitz (Concordia University), China, the Sovereign Debt Regime, and the IMF

10:30am

Break

10:45am

Governments and Governance

 

Chair: Peter Rosendorff (New York University)

Eric LeCompte (Jubilee USA Network), Comparability, Restructuring and
Relief Under New York, UK and State Laws NY Senate Bill | NY Senate Bill Memo | Jubilee Hub Page on NY Legislation | FAQ on 2023 Jubilee NY bill

Diego Rivetti (World Bank), Raising the Bar on Debt Transparency

11:45am

Lunch

1:00pm

The Law and Political Economy of Restructuring

 

Chair: Sarah Brooks (Ohio State University)

Tamon Asonuma (International Monetary Fund), Costs of Sovereign Debt Restructurings: Output, Investment, Bank Credit, Exports and Imports (paper 1) (paper 2)

Mark Weidemaier (UNC Chapel Hill), The Judgment-Holder Problem in Sovereign Debt Workouts

Monica Widmann (Princeton University), Information Clearinghouse: Market Implications of US Judicial Decisions

Mark Wright (Federal Reserve Bank of St. Louis), The Seniority Structure of Sovereign Debt

2:30pm

Break

3:00pm

Debt and Development

 

Chair: Reza Baqir (Alvarez & Marsal; Harvard University)

Jonas Bunte (University of Vienna), Export Credit Agencies and the Environment

Mark Manger (University of Toronto), To Tax or to Tap: Dependent Revenue Policy in Zambia

Anahí Wiedenbrüg (Facultad Latinoamericana de Ciencias Sociales; and Suramericana Visión), An Exploration of the Relationship Between Sovereign Debt and Politics (paper 1) (paper 2)

4:15pm

Sovereign Finance and Borrower Governments Revisited

 

A Fireside Chat with The Honourable Wale Edun (Finance Minister, Government of Nigeria)

Moderated by Layna Mosley (Princeton University)

5:15pm

Adjourn