"With the spread of interest-based transactions, major problems such as inequality, poverty and debt-based slavery have … interest-bearing debt transactions from Ancient times to the era of Abrahamic religions. In modern times, interest is strictly … justified as a viable practice in economic and financial transactions, the book offers deep insight into the current nature of …

We analyze the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the … first part of the paper we study the optimal debt contract -- specifically, the trade-off between the size of the loan and … the repayment -- under the assumption that some debt contract is optimal. In the second part we consider a more general …

. Total external debt (public and private) and domestic credit are also included through 2013. This combination gives a broad …-by-country basis. In addition to public debt, we trace out the evolution of its composition between domestic and external borrowing …