The Odious Haitian Independence Debt-Reference-Cited by-同舟云学术

The Odious Haitian Independence Debt

Published:2022-09-19 Issue:2 Volume:13 Page:339-378
ISSN:1948-1837
Container-title:Journal of Globalization and Development
language:en
Short-container-title:

Author:

Oosterlinck Kim¹²,Panizza Ugo³²,Weidemaier Mark⁴,Gulati Mitu⁵

Affiliation:

1. Université libre de Bruxelles , Bruxelles , Belgium

2. CEPR , Paris , France

3. The Graduate Institute , Geneva , Switzerland

4. University of North Carolina at Chapel Hill , Chapel Hill , NC , USA

5. University of Virginia , Charlottesville , VA , USA

Abstract

Abstract This article introduces the Haitian Independence Debt of 1825 to the odious debt and sovereign debt literatures. We argue that the legal doctrine of odious debt is surprisingly and perhaps indefensibly narrow, possibly because of historical contingency rather than any underlying logic or principle. The story of the Haitian Independence Debt of 1825 serves as an illustrative case study. In the context of telling that story, we provide estimates of the evolution of Haiti’s external debt-to-GDP ratio over 1825–2020, and discuss the implications of the independence debt for the economy of Haiti. We conclude by discussing the implications of Haiti’s Independence Debt for the doctrine of odious debt and the possibilities for Haiti to recover compensation.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance,Development,Geography, Planning and Development

Link

https://www.degruyter.com/document/doi/10.1515/jgd-2021-0057/pdf

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