How Costly Are Debt Crises?

How Costly Are Debt Crises?
The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be... READ MORE...

Publication date: December 2011
ISBN 9781463926618
$18.00

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