Financial and Monetary Systems

Michael Spence on the risks of increasing global debt

A bull and a bear styrofoam figurine are seen in front of the DAX board after the end of the last trading day at the Frankfurt stock exchange December 30, 2008.

Nobel Laureate Michael Spence looks at debt in the global economy, and the potential risks it poses. Image: REUTERS/Alex Grimm

A. Michael Spence
William R. Berkley Professor in Economics and Business, NYU Stern School of Business
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 Since the Great Recession, global debt has increased by $57 trillion, outpacing world GDP growth.
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Financial and Monetary SystemsEconomic Progress
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