The Paris Club, 1956-1980 : The Emergence of a Third Bretton Woods Sister

著者名：Callaghy, Thomas M.

Oxford University Press（2026/01/02発売）

• 言語：ENG
• ISBN：9780197839812
• eISBN：9780197839829

Description

Not long after the 1944 creation of the core Bretton Woods institutions--the World Bank and the International Monetary Fund--another international organization emerged to address the growing issue of sovereign debt: the Paris Club. The creditor-led international mechanism for restructuring developing-country debt was not alone at its genesis. Various creditor forums competed vigorously for dominance until 1980, when the French-led Paris Club came out on top.This book presents a comprehensive examination of the development of the Paris Club from founding to achieving its status as an informal third "Bretton Woods Sister." Drawing from over forty country cases of arduous maneuvering and contentious negotiation, Thomas M. Callaghy details the complex factors that shaped the mechanism's formation, including the geopolitical context, the domestic concerns of the creditor states, and the opposition by debtor states. He shows how, in largely secretive processes, the creditors struggled over restructuring terms, the role of economic conditionality, and the nature of development while also creating agreed norms, rules, and procedures that left them real flexibility. Although China's rise to power on the international stage has reduced the Paris Club's share of multilateral sovereign debt restructuring, it remains a central player, making this book essential reading for scholars of postwar international political economy and the Bretton Woods system.

Table of Contents

Dedication and AcknowledgementsAbbreviationsChapter 1: Paris Club: An IntroductionChapter 2: Beginnings of the Paris ClubChapter 3: Growing Pains: Argentina 1958-63 and Turkey 1959, 1965Chapter 4: South America in Crisis: Brazil 1961-64, Argentina and Chile1965Chapter 5: Indonesia 1965-1970: An Exceptional CaseChapter 6: Ghana 1966-74: A Messy, Complicated ProcessChapter 7: India 1964-77 and Pakistan 1971-74: How Not to Do Debt ReliefChapter 8: Peru 1968-71: Highly Contentious BargainingChapter 9: Chile 1971-76 and the Strange Case of North Korea: Near BreakdownChapter 10: Beginnings of an African Deluge and a Structural DilemmaChapter 11: Returnees: Peru 1976-79, Turkey 1978-80, and North Korea 1979Chapter 12: Zaire, 1978-79: Failed Reform and Ritual DancesChapter 13: Developing Country Resistance to the Paris ClubChapter 14: ConclusionAppendix I: TablesAppendix II: Archival Work, Interviews, and Citation FormatNotes