TY  - BOOK
AU  - Furceri,Davide
AU  - Zdzienicka,Aleksandra
TI  - How Costly Are Debt Crises?
T2  - IMF Working Papers; Working Paper
SN  - 1463926618 :
SN  - 1018-5941
PY  - 2011///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Crisis Episodes
KW  - imf
KW  - Currency Crises
KW  - Currency Crisis
KW  - Debt Crises
KW  - Debt Crisis
KW  - Output Losses
KW  - Argentina
KW  - Bulgaria
KW  - Cameroon
KW  - Congo, Democratic Republic of the
KW  - Ecuador
N2  - The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets
UR  - http://elibrary.imf.org/view/IMF001/12331-9781463926618/12331-9781463926618/12331-9781463926618.xml
UR  - http://www.imfbookstore.org/IMFORG/9781463926618
ER  -