Government Finance and the Debt Market

Syed Aun R. Rizvi, Obiyathulla Bacha and Abbas Mirakhor
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Abbas Mirakhor: International Centre for Education in Islamic Finance (INCEIF)

Chapter Chapter 5 in Public Finance and Islamic Capital Markets, 2016, pp 99-115 from Palgrave Macmillan

Abstract: Abstract Across the world, debt has become a common accepted phenomenon. It is argued that it is second nature to humans to borrow and accumulate debt. As governments are a reflection of their societies, the nature of debt accumulation is continues. This chapter explores questions such as: what is government debt? Why is it even there in the first place? How does it impact the economic growth of society? The chapter attempts to answer these questions in a simple manner, and then leads towards an examination of the alarming current debt statistics of the world. We are standing on a mountain of debt and the future looks bleak unless something is done not soon, but now.

Keywords: Debt; Government borrowing; Defaults; Debt relief (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-1-137-55342-3_5

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DOI: 10.1057/978-1-137-55342-3_5

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