01590cas a2200253 a 4500 AALejournalIMF011429 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463926618 1018-5941 BD-DhAAL BD-DhAAL Furceri, Davide. How Costly Are Debt Crises? / Davide Furceri, Aleksandra Zdzienicka. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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 long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets. Mode of access: Internet Zdzienicka, Aleksandra. IMF Working Papers; Working Paper ; No. 2011/280 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/280/001.2011.issue-280-en.xml IMF e-Library