Title
Sovereign Debt And The Financial Crisis: Will This Time Be Different?,New
Delivery time: 8-12 business days (International)
In the wake of the financial crisis of 2008, governments worldwide undertook massive fiscal interventions to stave off what otherwise would have likely been a systemwide financial and economic meltdown. The policy responses engendered significant shifts in growth trajectories and debt sustainability outlooks of both mature and developing economies. For Low Income Countries, postcrisis debt sustainability analyses show an average deterioration of 57 percentage points in the present value of public debttoGDP ratio in 200910 compared with precrisis projections, and stay in the area of 30 percent until 2014. Among the LICs, 40 percent face high risk of (or are in) debt distress. In the G20 countries, government debttoGDP ratios are expected reach 85 percent by 2014.The magnitude of public liabilities incurred and the uncertainty surrounding the exit from unprecedented discretionary fiscal stimulus have become a major source of concern about a future crisis. Will the current stringent financial conditions lead to a wave of sovereign debt problems around the world? Or will countries, given their stronger fundamentals compared with previous crises episodes, successfully muddle through the crisis?The objective of the book is to present and discuss policyrelevant research on the current debt challenges which developing, emerging market, and developed economies face. Its value added lies in the integrated approach of drawing on theoretical research and evidence from practitioners experience in developing, emerging market, and developed countries.The study is partially funded by the Debt Management Facility for LowIncome Countries. Contributors involve World Bank staff, other international and multilateral institutions, external researchers.
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⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
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