The origins and resolution of debt crises: it is not always fiscal!

Panizza, Ugo

Comparative Economic Studies 55, no 3 (2013), p [431]-453

Abstract: This paper shows that debt crises do not always have a fiscal nature and suggests that fiscal retrenchment may not be the optimal response to a crisis that did not originate from irresponsible fiscal policies. The paper starts by discussing the origin of debt crises and the unexplained part of public debt and for avoiding debt explosions linked to financial crises or poor debt management. The paper concludes with a discussion on liquidity and solvency crises.


The record appears in these collections:
Academic Departments > International Economics Department
Research Clusters > Trade and Economic Integration
Research Clusters > Governance
Journal Articles

 Record created 2014-10-20, last modified 2017-10-24


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