Global Debt _CGPE_WP.pdf (639.11 kB)
Global debt dynamics: what has gone wrong
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posted on 2023-06-09, 12:16 authored by Andreas AntoniadesAndreas Antoniades, Stephany Griffith-JonesThis 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.
Funding
Global Debt Dynamics Initiative; ROF 42; Research Opportunity Fund
History
Publication status
- Published
File Version
- Published version
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CGPE Working Papers SeriesPages
16.0Department affiliated with
- International Relations Publications
Research groups affiliated with
- Centre for Global Political Economy Publications
Institution
University of SussexFull text available
- Yes
Legacy Posted Date
2018-02-20First Open Access (FOA) Date
2018-02-20First Compliant Deposit (FCD) Date
2018-02-20Usage metrics
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