Half Title Page -- Title Page -- Copyright -- Dedication -- Contents -- Foreword -- Acknowledgments -- Contributors -- Abbreviations -- Introduction -- Part I: A New Wave of Sovereign Debt Crises? -- 1: The Sovereign Debt Crisis That Was Not -- 2: Unpleasant Surprises: Determinants and Risks of Sovereign Default -- 3: Finding the Tipping Point: When Sovereign Debt Turns Bad -- 4: Determinants of Emerging Market Sovereign Bond Spreads -- 5: Sovereign Debt Distress and Corporate Spillover Impacts -- Part II: The Effects of the Crisis on Debt -- 6: Debt Sustainability and Debt Distress in the Wake of the Ongoing Financial Crisis: The Case of IDA-Only African Countries -- 7: Do Middle-Income Countries Still Have the Ability to Deal with the Global Financial Crisis? -- 8: Small States, the Financial Crisis, and the Aftermath -- 9: Europe's Crisis: Origins and Policy Challenges -- Part III: Debt Restructuring Mechanisms: Lessons and Beyond -- 10: Avoiding Avoidable Debt Crises: Lessons from Recent Defaults -- 11: Managing Subnational Credit and Default Risks -- 12: Restructuring Sovereign Debts with Private Sector Creditors: Theory and Practice -- 13: A Standing Arbitral Tribunal as a Procedural Solution for Sovereign Debt Restructurings -- 14: International Lending of Last Resort and Sovereign Debt Restructuring -- Part IV: Managing Public Debt in Crises: How Experiences Differ -- 15: Managing Public Debt and Its Financial Stability Implications -- 16: Public Debt Management in Emerging Market Economies: Has This Time Been Different? -- 17: Crisis Preparedness and Debt Management in Low-Income Countries: Strengthening Institutions and Policy Frameworks -- 18: Public Debt Management and Sovereign Risk during the Worst Financial Crisis on Record: Experiences and Lessons from the OECD Area -- Index -- Back Cover.