Deleveraging? What Deleveraging? The 16th Geneva Report on the World Economy
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Author(s): Philip R. Lane, Lucrezia Reichlin, Vincent Reinhart, Charles Wyplosz
Publication Date: 29 Sep 2014
This report is available to download free of charge at VoxEU.org.
The world has not yet begun to deleverage its crisis-linked borrowing. Global debt-to-GDP is breaking new highs in ways that hinder recovery in mature economies and threaten new crisis in emerging nations ? especially China. The latest Geneva Report on the World Economy argues that the policy path to less volatile debt dynamics is a narrow one, and it is already clear that developed economies must expect prolonged low growth or another crisis along the way.