This volume presents a selection of contributions to the XXIV Villa Mondragone International Economic Seminar on "Public debt, global governance and economic dynamism". For the past 23 years, the Seminar has provided an ideal opportunity to meet and discuss the most topical issues in economic...

Examining historical sovereign debt crises in developing and transition economies, this text concludes that these occurrences have been economic and social catastrophes and are likely to happen again in the future due to the 'boom and bust' nature of economic cycles