The Rising Burden of Government Debt

The global financial crisis triggered a sharp increase in global public debt levels, which poses risks to fiscal and macroeconomic stability. In a new online interactive feature with the Financial Times, Eswar Prasad and Mengjie Ding analyze the burden of public debt in countries around the world and find that advanced economies account for much of the increase in world public debt, putting financial stability in these countries and global financial stability in jeopardy.