Book

Global Waves of Debt : Causes and Consequences

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collection.link.213
https://openknowledge.worldbank.org/handle/10986/11866
collection.name.213
Other papers
dc.contributor.author
Kose, M. Ayhan
dc.contributor.author
Nagle, Peter
dc.contributor.author
Ohnsorge, Franziska
dc.contributor.author
Sugawara, Naotaka
dc.date.accessioned
2019-12-06T21:36:38Z
dc.date.available
2019-12-06T21:36:38Z
dc.date.issued
2020
dc.date.lastModified
2020-05-27T05:10:49Z
dc.description.abstract
The global economy has experienced four waves of debt accumulation over the past fifty years. The first three debt waves ended with financial crises in many emerging and developing economies. The latest, since 2010, has already witnessed the largest, fastest and most broad-based increase in debt in these economies. Their total debt has risen by 54 percentage points of GDP to a historic peak of almost 170 percent of GDP in 2018. Current low interest rates mitigate some of the risks associated with high debt. However, emerging and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood of the current debt wave ending in crisis and, if crises were to take place, alleviate their impact. To shed light on the implications of the rapid debt accumulation, Global Waves of Debt presents the first in-depth analysis of the main features of global and national debt accumulation episodes, analyzes the linkages between debt accumulation and financial crises, and draws policy lessons.
en
dc.identifier.uri
http://hdl.handle.net/10986/32809
dc.language
English
dc.publisher
Washington, DC: World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
DEBT
dc.subject
DEBT CRISIS
dc.subject
FISCAL DEFICIT
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
DEVELOPING COUNTRIES
dc.subject
FINANCIAL CRISIS
dc.subject
INTEREST RATE
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC OUTLOOK
dc.title
Global Waves of Debt
en
dc.title.subtitle
Causes and Consequences
en
dc.type
Book
en
okr.date.disclosure
2019-12-11
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Working Paper
okr.googlescholar.linkpresent
yes
okr.identifier.internaldocumentum
211545
okr.imported
true
en
okr.language.supported
en
okr.topic
Finance and Financial Sector Development :: Capital Markets and Capital Flows
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Finance and Financial Sector Development :: Debt Relief and HIPC
okr.topic
Finance and Financial Sector Development :: International Financial Markets
okr.topic
International Economics and Trade :: Capital Flows
okr.topic
International Economics and Trade :: External Debt
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.unit
EPGDR

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