Global Waves of Debt: Causes and Consequences

by Peter Nagle, M. Ayhan Kose, Franziska Ohnsorge

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt...

• Format: Paperback
• Language: English
• ISBN: 1464815445
• ISBN13: 9781464815447
• Release Date: March 2021
• Publisher: World Bank Publications
• Length: 426 Pages