“There is an obvious need to learn more about why some countries succeed and others fail when dealing with debt crises. Why do some sovereign debtors overcome economic problems very quickly and at minor human rights costs for their people, while others remain trapped by debts for years struggling with overwhelming debt burdens and exacerbating economic problems and human suffering? This book analyzes fourteen unique or singular country cases of sovereign debt problems that differ characteristically from the ‘ordinary’ debtor countries, and have not yet received enough or proper attention – some regarded as successful, some as unsuccessful in dealing with debt crises. The aim is to contribute to a better understanding of the policy options available to countries struggling with debt problems, or how to resolve a debt overhang while protecting human rights, the Rule of Law and the debtor’s economic recovery.”
Publisher: Cambridge University Press, 2017
Print version: 336.3 HEIA 120441
Illustration: book cover
The euro crisis, Japan’s sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt.
“Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done – or even, in many cases, just how serious the debt problem is.
As the former director of the International Monetary Fund’s Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries.”
Publisher: Washington, D.C. : Brookings Institution Press, 2017
Call Number: 336.3 HEIA 120154