The Costs of Sovereign Debt and Default
Journal Title: Acta Universitatis Nicolai Copernici, Ekonomia - Year 2012, Vol 43, Issue 1
Abstract
This paper summarizes the results of empirical studies on the effects of sovereign debt, deficit and default on the economy. The obtained results shows that excessive debt and deficit are very harmful for economic growth, as opposed to default, which tend to heal the economy and usually is the end of crisis.
Authors and Affiliations
Sławomir Mentzen
Keywords
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