A Decade of Debt


A Decade of Debt is a book that presents evidence on the high leverage episodes that have been associated with slower economic growth and higher incidence of public and private debts. This book describes that public debts in the advanced economies have surged in recent years, and the private debt levels are also in uncharted territory, and are a contingent liability of the public sector in many countries. It also includes the pressing needs of the government to reduce debt rollover risks and curb rising interest expenditures in light of the substantial debt, leading to a revival of financial repression.

A Decade of Debt suggests that the following leads to a revival of financial repression:

  1. More directed lending to government by captive domestic audiences

  2. Explicit or implicit caps on interest rates

  3. Tighter regulation on cross-border capital movements

Table of Contents

A Decade of Debt

Chartbook of Country Histories of Debt, Default, and Financial Crises

  • Preamble

  • Key to Figures and Methodology Notes

  • Debt and Crises: Main Themes

  • References