Growth Implosions, Debt Explosions, and My Aunt Marilyn : Do Growth Slowdowns Cause Public Debt Crises?
The worldwide slowdown in growth after 1975 was a major negative fiscal shock. Slower growth lowers the present value of tax revenues and primary surpluses and thus makes a given level of debt more burdensome. Most countries failed to adjust to the...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2001/01/1000470/growth-implosions-debt-explosions-aunt-marilyn-growth-slowdowns-cause-public-debt-crises http://hdl.handle.net/10986/15742 |