Public debt in developing economies rose at a fast clip during 2020–21, at least partly due to the onset of the global Covid-19 pandemic. Nobel laureate Paul Krugman opined in early 2021 that “fighting covid is like fighting a war.” This paper argues that the Covid-19 pandemic shares many traits with natural disasters, except for the global nature of the pandemic shock. This paper empirically examines trends in debt and economic growth around the...
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DETAILS
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2022/04/25
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Policy Research Working Paper
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WPS10015
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1
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2022/04/25
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Disclosed
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Calamities, Debt, and Growth in Developing Countries
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Citation
Rachel Yuting Fan; Lederman,Daniel; Ha Nguyen; Rojas Guzman,Claudio Jeremias.
Calamities, Debt, and Growth in Developing Countries (English). Policy Research working paper ; no. WPS 10015; COVID-19 (Coronavirus) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099321004252230289