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- Title
Market Failure, Pari Passu, and the Law and Economics Approach to the Sovereign Debt Crisis.
- Authors
Day, Gregory R.
- Abstract
The article focuses on the reasons for the contracts-based market failure using law and economics in reference to NML Capital Ltd. v. Republic of Argentina. Topics discussed include the role of law and economics in defining incentive structures, laws made for regulating sovereign bonds for abiding the terms of contracts, role of law and economics in explaining the reasons for breach of contracts and lawsuits filed for violating the U.S. Foreign Sovereign Immunities Act (FSIA).
- Subjects
NML Capital Ltd.; LAW &; economics; LABOR incentives; BREACH of contract; ACTIONS &; defenses (Law)
- Publication
Tulane Journal of International & Comparative Law, 2014, Vol 22, Issue 2, p225
- ISSN
1069-4455
- Publication type
Article