Description:
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude - for better and for worse - will play out over coming decades. 'Sovereign Debt' is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. 'Sovereign Debt' brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic.