Global debt dynamics: what has gone wrong

Antoniades, Andreas and Griffith-Jones, Stephany (2018) Global debt dynamics: what has gone wrong. Working Paper. CGPE Working Papers Series.

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This paper 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.

Item Type: Reports and working papers (Working Paper)
Keywords: global debt, debt crisis, indebtedness, credit allocation, inequality, money creation
Schools and Departments: School of Global Studies > International Relations
Institute of Development Studies
Research Centres and Groups: Centre for Global Political Economy
Subjects: H Social Sciences > HG Finance > HG0201 Money
H Social Sciences > HG Finance > HG1501 Banking > HG1641 Bank loans. Bank credit. Commercial loans
H Social Sciences > HG Finance > HG3691 Credit. Debt. Loans
H Social Sciences > HG Finance > HG3810 Foreign exchange. International finance. International monetary system
H Social Sciences > HJ Public Finance > HJ8001 Public debts
Depositing User: Andreas Antoniades
Date Deposited: 20 Feb 2018 13:59
Last Modified: 20 Feb 2018 13:59

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Project NameSussex Project NumberFunderFunder Ref
Global Debt Dynamics InitiativeROF 42Research Opportunity FundUnset