| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13471 |
| DP13471 Public Debt Through the Ages | |
| Asmaa El-Ganainy; Rui Ferreira da Costa Esteves; Kris Mitchener | |
| 发表日期 | 2019-01-21 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible. |
| 主题 | Economic History ; International Macroeconomics and Finance |
| 关键词 | Sovereign debt Debt history Sovereign debt crises Sovereign debt composition |
| URL | https://cepr.org/publications/dp13471 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542286 |
| 推荐引用方式 GB/T 7714 | Asmaa El-Ganainy,Rui Ferreira da Costa Esteves,Kris Mitchener. DP13471 Public Debt Through the Ages. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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