Global waves of debt : causes and consequences

Cover -- Half Title -- Title -- Copyright -- Summary of Contents -- Contents -- Foreword -- Acknowledgments -- About the Authors -- Abbreviations -- Overview -- PART I: Setting the Stage -- Chapter 1 Debt: Evolution, Causes, and Consequences -- Motivation -- Contributions to the literature -- Key findings and policy messages -- Synopsis -- References -- Chapter 2 Benefits and Costs of Debt: The Dose Makes the Poison -- Introduction -- Benefits of debt -- Costs of debt -- Debt: How much is too much? -- Conclusion -- References -- PART II: Waves of Debt -- Chapter 3 Global Waves of Debt: What Goes Up Must Come Down? -- Introduction -- The first wave, 1970-89: Crisis in Latin America and low-income countries -- The second wave, 1990-2001: The East Asian financial crisis and its aftermath -- The third wave, 2002-09: The global financial crisis in the EGA region -- Similarities between waves -- Differences across waves -- Conclusion -- References -- Chapter 4 The Fourth Wave: Ripple or Tsunami? -- Introduction -- The fourth wave -- Similarities with the previous waves -- Differences from the previous waves -- Conclusion -- References -- PART III: Crises and Policies -- Chapter 5 Debt and Financial Crises: From Euphoria to Distress -- Introduction -- National debt accumulation episodes -- Debt and financial crises -- Selected country case studies -- Conclusion -- Annex 5A: Selected case studies of debt accumulation -- References -- Chapter 6 Policies: Turning Mistakes into Experience -- Introduction -- The current wave: What next? -- Striking the right balance -- Seven major lessons -- Policy implications -- Conclusion -- References -- Appendixes -- Appendix A: Event study methodology -- Appendix B: Regression methodology -- Appendix C: Case studies -- Appendix D: Income classifications -- Figures -- Figure 1.1 Evolution of debt.