Home > Publications > Policy Briefs > Frameworks For Sovereign Debt Restructuring

Frameworks For Sovereign Debt Restructuring

IPD-CIGI-CGEG Policy Brief - Policy Brief #12

Joseph Stiglitz, Martin Guzman, José Antonio Ocampo, Domenico Lombardi, Jan Svejnar

  • Overview
Paper  327kb pdf

About the Authors

Joseph Stiglitz
Co-President
Initiative for Policy Dialogue (IPD)

Joseph E. Stiglitz is co-President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.

Martin Guzman
Postdoctoral Research Scholar
Graduate School of Business
Columbia University

Martin Guzman is a Postdoctoral Research Fellow at Columbia University Graduate School of Business and an Associate Professor at Universidad de Buenos Aires.

He is a co-chair Columbia University Initiative for Policy Dialogue's Taskforce on Debt Restructuring and Sovereign Bankruptcy, and a member of the INET Research Group on "Macroeconomic Externalities” chaired by Professor Joseph Stiglitz. He is also a Senior Fellow in CIGI’s Global Economy Program. He is an Editor of the Journal of Globalization and Development.

He holds a PhD in Economics from Brown University. His research fields are Macroeconomics and Economic Development.
 

José Antonio Ocampo
Co-President
Initiative for Policy Dialogue (IPD)

Jose Antonio Ocampo is Co-President of IPD, Professor of Professional Practice in the School of International and Public Affairs, and Fellow of the Committee on Global Thought at Columbia University. Prior to his appointment at Columbia, Professor Ocampo served as the United Nations Under-Secretary-General for Economic and Social Affairs, and head of UN Department of Economic and Social Affairs (DESA), as Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and has held a number of high-level posts in the Government of Colombia, including Minister of Finance and Public Credit, Director of the National Planning Department, and Minister of Agriculture . Professor Ocampo is author or editor of over 30 books and has published over 200 scholarly articles on macroeconomic theory and policy, international financial issues, economic development, international trade, and Colombian and Latin American economic history.

Domenico Lombardi
Director
Global Economy Program
CIGI

Domenico Lombardi is director of CIGI's Global Economy program, overseeing the research direction of the program and related activities. He also serves as Chair of The Oxford Institute for Economic Policy and sits on the advisory boards of the Bretton Woods Committee in Washington, the G20 Research Group and the G8 Research Group at the University of Toronto, and the Istituto Affari Internazionali in Rome. Mr. Lombardi is a member of the Financial Times Forum of Economists and editor of the World Economics Journal.

In 2011, he served as the rapporteur for the High-Level Panel on the Governance of the Financial Stability Board. A year earlier, he was appointed by the World Bank Group’s Board of Directors as the External Reviewer to conduct the first independent review of the Group’s Oversight and Accountability Units. In 2009, Mr. Lombardi authored the report to the IMF Managing Director on IMF Governance Reform (“Fourth Pillar Report”). Prior to that, Mr. Lombardi’s distinguished career includes positions on the executive boards of major international financial institutions such as the International Monetary Fund and the World Bank.

His academic interests focus on the global economy and currencies, global governance, the G20, the G8, and the reform of the international financial and monetary system. His research has been published in peer-reviewed journals and has been referred to in Congressional and Parliamentary hearings around the world. He has testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the Subcommittee on Security and International Trade and Finance. Mr. Lombardi has an undergraduate degree summa cum laude in Banking and Finance from Bocconi University, Milan, and a Ph.D. in economics from Oxford University (Nuffield College).

Jan Svejnar
James T. Shotwell Professor of Global Political Economy; Director, Center on Global Economic Governance
School of International and Public Affairs, Columbia University

Jan Svejnar focuses on the effects of government policies on firms, labor and capital markets; corporate, national, and global governance and performance; and entrepreneurship.

Professor Svejnar previously served as director of the International Policy Center at the Gerald R. Ford School of Public Policy at the University of Michigan. He is a founder and Chairman of CERGE-EI in Prague (an American-style Ph.D. program in economics that educates economists for Central-East Europe and the Newly Independent States). He serves as the Chairman of the Supervisory Board of CSOB Bank and co-editor of Economics of Transition. He is a Fellow of the European Economic Association and Research Fellow of the Center for Economic Policy Research (London) and Institute for the Study of Labor (IZA, Bonn).

Professor Svejnar was honored for his distinguished work with a 2012 Neuron Prize from the Prague-based Karel Janeček Endowment for Research and Science. He was one of three honorees for lifelong achievement, a recognition considered to be the Czech Republic's most prestigious for science. The Endowment spokesperson stated:

Prior to joining Columbia University in 2012, Professor Svejnar taught at the University of Michigan, University of Pittsburgh, and Cornell University. He received his B.S. from Cornell University’s School of Industrial and Labor Relations and his M.A. and Ph.D. in Economics from Princeton University.

Publication Information

Type Policy Briefs
Program Debt Restructuring and Sovereign Bankruptcy
Download 327kb pdf
Posted 01/23/15