Annals of the Fondazione Luigi Einaudi

An Interdisciplinary Journal of Economics, History and Political Science

The Annals is a forum for the free exchange of ideas
among scholars working in the field of social sciences
Volume LIV 1 - 2020

Alternative Solutions to the Odious Debt Problem

Mitu Gulati and Ugo Panizza,
pp. 153-168
Cite this article as


The doctrine of state succession requires that governments honor the international commitments of their predecessors. Even if a dictator borrows to oppress his own citizens, future generations are required to service the debts and commitments contracted by the dictator. This paper starts by briefly describing possible exceptions to this doctrine by focusing on war and hostile debts. Next, the paper reviews the literature on odious debt and discusses two proposals that could address this issue by using domestic legal principles.
  • The Real Effects of Financial Globalization: What Do the Data Say?

    Ugo Panizza
    Volume LII 1 - 2018 pp. 21-30
    Cite this article as DOI: 10.26331/1030