Excerpt:
"In this era of low volatility and extremely low global real interest rates, both the private and public sectors in emerging markets have been borrowing at a strong pace. Is another crisis looming or are we in a new normal? Global Waves of Debt puts the current debt wave in context by systematically comparing its features with the three major earlier emerging market debt waves since 1970, all of which ended in widespread crises. Is this time different? Deeply researched and with many novel insights, this book will be a useful reference for policymakers and academics alike."
-- Kenneth Rogoff, Harvard University
https://www.worldbank.org/en/research/publication/waves-of-debt
Image credit - The World Bank
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