Series: IMF Working Papers
Author(s): Davide Furceri , and Aleksandra Zdzienicka
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2011
Keywords: output losses, debt crises, sovereign defaults, debt crisis, currency crises, crisis episodes, currency crisis
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 lon...