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Relational Contract Theory And Sovereign Debt, Keith A. Palzer
Relational Contract Theory And Sovereign Debt, Keith A. Palzer
Northwestern Journal of International Law & Business
Relational contract theory will first be presented using principles gleaned from writings in the field 7 to craft a functional/relational model with which to approach legal practice.8 This version of relational contract will then be applied to the problem of developing country debt through description of a hypothetical sovereign loan relationship.9 By exploring the conflicts and trends of this association under a general "taxonomy of relational contract," normative analysis of the restructuring process can be accomplished, contractual trends identified, and suggestions for change offered.'