Sovereign Debt: A Guide for Economists and Practitioners

The last time global sovereign debt reached the level seen today was at the end of the Second World War, leading to economic policymaking and crises. Sovereign Debt: A Guide for Economists and Practitioners aims to provide structure and guidance for economists, practitioners, and policymakers through this complex subject, covering debt management, reduction policies, and history.

Format: Paperback / softback
Length: 464 pages
Publication date: 28 September 2021
Publisher: Oxford University Press

The last time global sovereign debt reached the level seen today was at the end of the Second World War, marking a significant turning point in economic policymaking. This era was characterized by profound transformations within international institutions, the implementation of often draconian and distortive country policies, and the emergence of numerous crises. By the early 1970s, when debt levels returned to pre-war levels, the world had undergone a radical shift. It is anticipated that similar changes, both positive and negative, will unfold over the coming decades.

Sovereign Debt: A Guide for Economists and Practitioners aims to provide a structured framework for navigating the complexities of sovereign debt. This comprehensive book brings together leading researchers and specialists from around the world, covering a wide range of sub-disciplines within the field. It explores topics such as debt management, debt sustainability, debt reduction policies, and their intersection with crisis prevention policies. The book serves as a foundational text for anyone interested in sovereign debt, with a particular emphasis on real-world examples and issues.

The impact of sovereign debt on economies and societies is profound. On the one hand, it can facilitate economic growth and development by providing funding for infrastructure projects and other vital initiatives. However, on the other hand, excessive debt can lead to financial instability, economic downturns, and social unrest.

One of the key challenges facing policymakers and economists is managing sovereign debt effectively. This involves a combination of strategies, including debt reduction, debt sustainability, and crisis prevention. Debt reduction involves reducing the amount of debt outstanding, while debt sustainability ensures that debt levels are manageable and do not pose a threat to economic stability. Crisis prevention policies aim to identify and address potential risks before they escalate into crises.

The history of sovereign debt is long and complex, with many countries facing debt challenges at different points in time. The global financial crisis of 2008-2009 was a particularly significant event, highlighting the risks associated with excessive debt and the need for robust financial regulations.

In conclusion, sovereign debt is a critical issue that requires careful consideration and management. The last time global sovereign debt reached the level seen today was at the end of the Second World War, shaping a generation of economic policymaking. By understanding the complexities of sovereign debt and implementing effective strategies, policymakers and economists can help ensure economic stability and promote sustainable growth. Sovereign Debt: A Guide for Economists and Practitioners provides a valuable resource for navigating this complex subject and shaping the future of economic policy.

Weight: 710g
Dimension: 156 x 235 x 29 (mm)
ISBN-13: 9780192856333