Massive debts will stunt growth: Reinhart and Rogoff
Governments who cushioned the blow of the financial crisis with expensive bailouts can expect the debts they have accrued to cripple growth within the next four years, the authors of This Time is Different told American economists on Monday.
In a paper entitled ‘Growth in a time of debt', Carmen Reinhart and Kenneth Rogoff told the audience at the American Economic Association's annual meeting that data suggest high debt levels lead to lower growth.
Using a new dataset that covers 44 countries
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