Global debt dynamics_SRO.pdf (362.75 kB)
Global debt dynamics: the elephant in the room
journal contribution
posted on 2023-06-09, 12:15 authored by Andreas AntoniadesAndreas Antoniades, Stephany Griffith-JonesThis introduction analyses the nature and characteristics of global debt dynamics in the post global financial crisis (GFC) period. First, we attempt to map the ways in which debt has been moving from sector to sector, and from one group of countries to another within the global economy. By capturing this inter-sectorial, inter-national, inter-regional movements of global debt we aspire to contribute to a more comprehensive understanding of global debt and its mode of operation. Second, we attempt to analyse what is wrong with global debt dynamics, i.e. we examine the broken link between what global debt was supposed to do and what it does. Here, we point to three interrelated dynamics: the accumulation of unproductive debt, growing inequalities of income and wealth, and the increase in privately-created, interest-bearing money. We conclude by discussing how each paper in this special issue contributes to the current state of the art on the analysis of global debt dynamics in emerging and developing economies.
History
Publication status
- Published
File Version
- Accepted version
Journal
World EconomyISSN
0378-5920Publisher
WileyExternal DOI
Issue
12Volume
41Page range
3256-3268Department affiliated with
- International Relations Publications
Research groups affiliated with
- Centre for Global Political Economy Publications
- Sussex Sustainability Research Programme Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2018-02-20First Open Access (FOA) Date
2020-02-15First Compliant Deposit (FCD) Date
2018-02-20Usage metrics
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