Development Financing and Changes in Circumstances: The Case for Adoption Clauses (Publication of the Graduate Institute of International Studies, Geneva)

by Bolivar Moura Rocha (Author)

• New

  Hardcover
  1999

  $202.05

  The 1980s saw a debt crisis among developing countries that indicated a deeper, dangerous fault in the foundations of financial mechanisms. Rocha argues that contractually provided adaptation mechanisms can help avoid the disruption of medium- and long-term financing transactions; he also challenges the current practice of hazardous and resource-consuming ad hoc debt rescheduling.