A Historical Public Debt Database

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A Historical Public Debt Database

International Monetary Fund
A Historical Public Debt Database Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 27 pages
File Size : 42,9 Mb
Release : 2010-11-01
Category : Business & Economics
ISBN : 9781455209453

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A Historical Public Debt Database by International Monetary Fund Pdf

This paper describes the compilation of the first truly comprehensive database on gross government debt-to-GDP ratios, covering nearly the entire IMF membership (174 countries) and spanning an exceptionally long time period. The database was constructed by bringing together a number of other datasets and information from original sources. For the most recent years, the data are linked to the IMF World Economic Outlook (WEO) database to facilitate regular updates. The paper discusses the evolution of debt-to-GDP ratios across country groups for several decades, episodes of debt spikes and reversals, and a pattern of negative correlation between debt and growth.

Global Debt Database: Methodology and Sources

Samba Mbaye,Ms.Marialuz Moreno Badia,Kyungla Chae
Global Debt Database Methodology and Sources Book PDF

Author : Samba Mbaye,Ms.Marialuz Moreno Badia,Kyungla Chae
Publisher : International Monetary Fund
Page : 52 pages
File Size : 53,6 Mb
Release : 2018-05-14
Category : Business & Economics
ISBN : 9781484356524

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Global Debt Database: Methodology and Sources by Samba Mbaye,Ms.Marialuz Moreno Badia,Kyungla Chae Pdf

This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is the result of a multiyear investigative process that started with the October 2016 Fiscal Monitor, which pioneered the expansion of private debt series to a global sample. It differs from existing datasets in three major ways. First, it takes a fundamentally new approach to compiling historical data. Where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency across time. Second, it more than triples the cross-sectional dimension of existing private debt datasets. Finally, the integrity of the data has been checked through bilateral consultations with officials and IMF country desks of all countries in the sample, setting a higher data quality standard.

Public Sector Debt Statistics

International Monetary Fund
Public Sector Debt Statistics Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 230 pages
File Size : 45,6 Mb
Release : 2011-12-08
Category : Business & Economics
ISBN : 9781616351564

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Public Sector Debt Statistics by International Monetary Fund Pdf

The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.

This Time Is Different

Carmen M. Reinhart,Kenneth S. Rogoff
This Time Is Different Book PDF

Author : Carmen M. Reinhart,Kenneth S. Rogoff
Publisher : Princeton University Press
Page : 513 pages
File Size : 43,8 Mb
Release : 2011-08-07
Category : Business & Economics
ISBN : 9780691152646

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This Time Is Different by Carmen M. Reinhart,Kenneth S. Rogoff Pdf

An empirical investigation of financial crises during the last 800 years.

A Guide to Sovereign Debt Data

S. M. Ali Abbas,Mr.Kenneth Rogoff
A Guide to Sovereign Debt Data Book PDF

Author : S. M. Ali Abbas,Mr.Kenneth Rogoff
Publisher : International Monetary Fund
Page : 21 pages
File Size : 41,8 Mb
Release : 2019-09-13
Category : Business & Economics
ISBN : 9781513511948

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A Guide to Sovereign Debt Data by S. M. Ali Abbas,Mr.Kenneth Rogoff Pdf

The last decade or so has seen a mushrooming of new sovereign debt databases covering long time spans for several countries. This represents an important breakthrough for economists who have long sought to, but been unable to tackle, first-order questions such as why countries have differential debt tolerance, and how debt levels affect the scope for countercyclical policy in recessions and financial crises. This paper backdrops these recent data efforts, identifying both the key innovations, as well as caveats that users should be aware of. A Directory of existing publicly-available sovereign debt databases, featuring compilations by institutions and individual researchers, is also included.

International Debt Statistics 2021

World Bank
International Debt Statistics 2021 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 227 pages
File Size : 45,6 Mb
Release : 2020-12-21
Category : Business & Economics
ISBN : 9781464816116

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International Debt Statistics 2021 by World Bank Pdf

International Debt Statistics (IDS), a long-standing annual publication of the World Bank, features external debt statistics and analysis for the 120 low- and middle-income countries that report to the World Bank Debtor Reporting System. IDS 2021 includes (1) an overview analyzing global trends in debt stocks of and debt flows to low- and middle-income countries within the framework of aggregate capital flows (debt and equity); (2) a feature story on the World Bank and International Monetary Fund Debt Service Suspension Initiative in response to the COVID-19 pandemic; (3) tables and charts detailing debtor and creditor composition of debt stock and flows, terms of new commitments, and maturity structure of future debt service payments and debt burdens, measured in relation to gross national income and export earnings for each country; (4) one-page summaries per country, plus global, regional, and income group aggregates showing debt stocks and flows, relevant debt indicators, and metadata for six years (2009 and 2015†“19); and (5) a user guide describing the tables and content, definitions and rationale for the country and income groupings used in the report, data notes, and information about additional resources and comprehensive data sets available to users online. Unique in its coverage of the important trends and issues fundamental to the financing of low- and middle-income countries, IDS 2021 is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. For more information on IDS 2021 and related products, please visit the World Bank’s Data Catalog at https://datacatalog.worldbank.org/dataset/international-debt-statistics.

A World of Public Debts

Nicolas Barreyre,Nicolas Delalande
A World of Public Debts Book PDF

Author : Nicolas Barreyre,Nicolas Delalande
Publisher : Springer Nature
Page : 593 pages
File Size : 46,6 Mb
Release : 2020-10-26
Category : Business & Economics
ISBN : 9783030487942

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A World of Public Debts by Nicolas Barreyre,Nicolas Delalande Pdf

This book analyzes public debt from a political, historical, and global perspective. It demonstrates that public debt has been a defining feature in the construction of modern states, a main driver in the history of capitalism, and a potent geopolitical force. From revolutionary crisis to empire and the rise and fall of a post-war world order, the problem of debt has never been the sole purview of closed economic circles. This book offers a key to understanding the centrality of public debt today by revealing that political problems of public debt have and will continue to need a political response. Today’s tendency to consider public debt as a source of fragility or economic inefficiency misses the fact that, since the eighteenth century, public debts and capital markets have on many occasions been used by states to enforce their sovereignty and build their institutions, especially in times of war. It is nonetheless striking to observe that certain solutions that were used in the past to smooth out public debt crises (inflation, default, cancellation, or capital controls) were left out of the political framing of the recent crisis, therefore revealing how the balance of power between bondholders, taxpayers, pensioners, and wage-earners has evolved over the past 40 years. Today, as the Covid-19 pandemic opens up a dramatic new crisis, reconnecting the history of capitalism and that of democracy seems one of the most urgent intellectual and political tasks of our time. This global political history of public debt is a contribution to this debate and will be of interest to financial, economic, and political historians and researchers. Chapters 13 and 19 are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

Global Waves of Debt

M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Global Waves of Debt Book PDF

Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 40,6 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454

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Global Waves of Debt by M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara Pdf

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

External Debt Statistics

International Monetary Fund
External Debt Statistics Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 327 pages
File Size : 41,9 Mb
Release : 2003-06-25
Category : Business & Economics
ISBN : 9781589060609

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External Debt Statistics by International Monetary Fund Pdf

This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.

The Blind Side of Public Debt Spikes

Laura Jaramillo,Mr.Carlos Mulas-Granados,Elijah Kimani
The Blind Side of Public Debt Spikes Book PDF

Author : Laura Jaramillo,Mr.Carlos Mulas-Granados,Elijah Kimani
Publisher : International Monetary Fund
Page : 32 pages
File Size : 43,7 Mb
Release : 2016-10-14
Category : Business & Economics
ISBN : 9781475545234

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The Blind Side of Public Debt Spikes by Laura Jaramillo,Mr.Carlos Mulas-Granados,Elijah Kimani Pdf

What explains public debt spikes since the end of WWII? To answer this question, this paper identifies 179 debt spike episodes from 1945 to 2014 across advanced and developing countries. We find that debt spikes are not rare events and their probability increases with time. We then show that large public debt spikes are neither driven by high primary deficits nor by output declines but instead by sizable stock-flow adjustments (SFAs). We also find that SFAs are poorly forecasted, which can affect debt sustainability analyses, and are associated with a higher probability of suffering non-declining debt paths in the aftermath of public debt spikes.

Debt and Entanglements Between the Wars

Mr.Thomas J Sargent,Mr.George Hall,Mr.Martin Ellison,Mr.Andrew Scott,Mr.Harold James,Ms.Era Dabla-Norris,Mark De Broeck,Mr.Nicolas End,Ms.Marina Marinkov,Vitor Gaspar
Debt and Entanglements Between the Wars Book PDF

Author : Mr.Thomas J Sargent,Mr.George Hall,Mr.Martin Ellison,Mr.Andrew Scott,Mr.Harold James,Ms.Era Dabla-Norris,Mark De Broeck,Mr.Nicolas End,Ms.Marina Marinkov,Vitor Gaspar
Publisher : International Monetary Fund
Page : 322 pages
File Size : 45,5 Mb
Release : 2019-11-08
Category : Business & Economics
ISBN : 9781513516868

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Debt and Entanglements Between the Wars by Mr.Thomas J Sargent,Mr.George Hall,Mr.Martin Ellison,Mr.Andrew Scott,Mr.Harold James,Ms.Era Dabla-Norris,Mark De Broeck,Mr.Nicolas End,Ms.Marina Marinkov,Vitor Gaspar Pdf

World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global economic history between World War I and II offers rich material for studying international monetary and sovereign debt policies. Debt and Entanglements between the Wars focuses on the experiences of the United States, United Kingdom, four countries in the British Commonwealth (Australia, New Zealand, Canada, Newfoundland), France, Italy, Germany, and Japan, offering unique insights into how political and economic interests influenced alliances, defaults, and the unwinding of debts. The narratives presented show how the absence of effective international collaboration and resolution mechanisms inflicted damage on the global economy, with disastrous consequences.

Public Debt Through the Ages

Mr.Barry J. Eichengreen,Ms.Asmaa A ElGanainy,Rui Pedro Esteves,Kris James Mitchener
Public Debt Through the Ages Book PDF

Author : Mr.Barry J. Eichengreen,Ms.Asmaa A ElGanainy,Rui Pedro Esteves,Kris James Mitchener
Publisher : International Monetary Fund
Page : 60 pages
File Size : 45,9 Mb
Release : 2019-01-15
Category : Business & Economics
ISBN : 9781484392898

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Public Debt Through the Ages by Mr.Barry J. Eichengreen,Ms.Asmaa A ElGanainy,Rui Pedro Esteves,Kris James Mitchener Pdf

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.

In Defense of Public Debt

Barry Eichengreen,Asmaa El-Ganainy,Rui Esteves,Kris James Mitchener
In Defense of Public Debt Book PDF

Author : Barry Eichengreen,Asmaa El-Ganainy,Rui Esteves,Kris James Mitchener
Publisher : Oxford University Press
Page : 321 pages
File Size : 41,7 Mb
Release : 2021-08-11
Category : Business & Economics
ISBN : 9780197577912

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In Defense of Public Debt by Barry Eichengreen,Asmaa El-Ganainy,Rui Esteves,Kris James Mitchener Pdf

A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.

The Liquidation of Government Debt

Ms.Carmen Reinhart,M. Belen Sbrancia
The Liquidation of Government Debt Book PDF

Author : Ms.Carmen Reinhart,M. Belen Sbrancia
Publisher : International Monetary Fund
Page : 47 pages
File Size : 52,7 Mb
Release : 2015-01-21
Category : Business & Economics
ISBN : 9781498338387

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The Liquidation of Government Debt by Ms.Carmen Reinhart,M. Belen Sbrancia Pdf

High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.

Guidelines for Public Debt Management -- Amended

International Monetary Fund,World Bank
Guidelines for Public Debt Management Amended Book PDF

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 39 pages
File Size : 47,6 Mb
Release : 2003-09-12
Category : Business & Economics
ISBN : 9781498328920

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Guidelines for Public Debt Management -- Amended by International Monetary Fund,World Bank Pdf

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