This introductory chapter will focus on the first era of Globalization (1880-1913) and the Twentieth Century. It will cover the broad trends in the level and composition of debt, with case studies of major global events such as the world wars, the Great Depression and the Great Recession. A discussion of developing market debt crises, including the Latin American Debt Crisis and the HIPC Initiative, along with their resolution, will conclude the chapter.

This document is an excerpt of the forthcoming book from Oxford University Press and the IMF that is designed to connect the multiple aspects of sovereign debt policy into one coherent text.

For further information please go to our focus: Sovereign Debt: A Guide for Economists and Practitioners

http://www.publicdebtnet.org/pdm/archivio-focus/detail-focus/Sovereign-Debt-A-Guide-for-Economists-and-Practitioners-00001/