Dr Karina Patricio Ferreira Lima awarded the 2022 SIEL-Hart Prize in International Economic Law

The prize is awarded every 2 years to an outstanding unpublished manuscript by an early career scholar in the field of International Economic Law.

The School of Law is delighted that our Lecturer in Commercial Law Dr Karina Patricio Ferreira Lima has been awarded the 2022 SIEL-Hart Prize in International Economic Law for her doctoral research on the political economy foundations of international sovereign bankruptcy law. Sponsored by the Society of International Economic Law and Hart Publishing, this is the most prestigious award for early career scholars in the field. 

The Prize committee said Dr Patricio Ferreira Lima’s manuscript “offers an alternative account of the sovereign debt crises that have plagued many emerging markets. The issue of liquidity takes the focal point: Patricio Ferreira Lima underscores that liquidity is the key to understanding the structural determinants of sovereign insolvency. 

“Patricio Ferreira Lima’s manuscript argues that international law lacks adequate mechanisms that deal with sovereign debt insolvency. Inspired by the Law and Political Economy movement (LPE), the author suggests that some basic principles can be established in international sovereign bankruptcy law. These novel propositions are intelligent, audacious, and interdisciplinary: the author covers the subject of sovereign debt in a comprehensive and rigorous manner. 

“Patricio Ferreira Lima’s manuscript is recommended for international experts or academics versed in international relations and sovereign debt. Readers will be particularly taken by the proposal to develop the institutional contours of a bankruptcy regime sovereign debt. By plunging into unexplored areas on sovereign debt, the author offers unique and original proposals to establish institutional, normative, monitoring, and surveillance mechanisms that could assist countries in addressing sovereign insolvency.” 

Dr Patricio Ferreira Lima said of her win: “I could not be more delighted at the news of this prize. I am incredibly thankful to the Society of International Economic Law and Hart Publishing for this recognition, as well as the opportunity to publish my manuscript with such a prestigious publishing house.  

I hope my forthcoming manuscript will contribute to the debate on the need for structural reforms in the international legal governance of sovereign insolvency towards achieving sustainable development for all.”