Hope springs eternal : French bondholders and the repudiation of Russian sovereign debt / Kim Oosterlinck ; translated by Anthony Bulger.

Format:

Book

Author/Creator:

Oosterlinck, Kim, author.

Contributor:

Bulger, Anthony, translator.

Series:

Yale series in economic and financial history

Language:

English

French

Subjects (All):

Debts, Public--Soviet Union--History--20th century.

Debts, Public.

International economic relations.

History.

Soviet Union--Foreign economic relations--France.

Soviet Union.

France--Foreign economic relations--Soviet Union.

France.

Russia.

Genre:

History.

Physical Description:

xiv, 244 pages : illustrations ; 25 cm.

Place of Publication:

New Haven : Yale University Press, [2016]

Language Note:

Translated from the French.

Summary:

In 1918, the Soviet revolutionary government repudiated the Tsarist regime's sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repayment. Soviet debt recognition, a change in government, and a bailout by the French government, French banks, or a seceding country would have guaranteed at least a partial reimbursement. As Greece and other European countries raise the possibility of sovereign default, Oosterlinck's superbly researched study is more urgent than ever. Book jacket.

Contents:

1 Sovereign Debt: Default and Repudiation 34

2 Reputation, Trade Retaliation, and Recognition: The Hope That the Bolsheviks Would Change Their Position 45

3 Military Intervention and the Impact of War Events: Hopes for "White" Repayment 94

4 A French Bailout? 116

5 Seeking Other Potential Payers 139

6 Recent Econometric and Financial Research 158

7 Conclusion 174.

Notes:

Includes bibliographical references (pages 225-235) and index.

ISBN:

0300190913

9780300190915

OCLC:

926820512