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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-Jones
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.

Funding

Global Debt Dynamics Initiative; ROF 42; Research Opportunity Fund

History

Publication status

  • Published

File Version

  • Published version

Publisher

CGPE Working Papers Series

Pages

16.0

Department affiliated with

  • International Relations Publications

Research groups affiliated with

  • Centre for Global Political Economy Publications

Institution

University of Sussex

Full text available

  • Yes

Legacy Posted Date

2018-02-20

First Open Access (FOA) Date

2018-02-20

First Compliant Deposit (FCD) Date

2018-02-20

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