IMF: high indebtedness depresses growth
An IMF paper published in July explores the impact of high public debt on long-run economic growth, and finds higher initial debt levels have a large negative effect on growth.
Manmohan Kumar and Jaejoon Woo, the paper's authors, argue that the sharp increase in developed countries' debt levels as a result of the global financial crisis has led to serious concerns about their broader economic and financial market impact.
The paper provides empirical evidence on the impact of high public debt on
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