Professor Mark J. Perry's Blog for Economics and Finance
CANADA.COM -- "With the recent spotlight on the debt crisis in Greece and other European nations, we take a look at the countries that are most in debt, calculated by the World Bank's data on gross external debt as a percentage of the GDP. The top ranking nations may surprise you."
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
9 Comments:
And, they are?
Benjamin, I noticed that Japan is not on the list.
Neither are those countries the Nobel Peace Prize Winner is currently "liberating".
what is "gross external debt"??
I looked it up. Just means all the money owed to entities in other countries. So what? And how much do they owe us?
I always say it doesn't matter to me if I owe money to somebody in New York or somebody in Tokyo.
I plan to pay it back!
Looks like the journalists had some problems with understanding the difference betwees gross ecternal debt and public debt including public external debt.
its a lot of european countries...not too much of surprise there, often they owe it to each other..
a net external debt would be interesting...
Che is in debt!
Nice post, Che!
Who else would you lend money to, Zimbabwe?
"Debt" (so-called) is only a loan against assets (present or future) that has not been cleared. If you want to grab headlines, don't call them "debtors" rather label them "con artists." Unless the loans actually are paid off ... at which point money is destroyed and those productive people become the "evaporators of bank balances."
The huge figure for Ireland is largely the result of a substantial international financial services centre in Dublin and has little relevance to the domestic economy. An actual external debt figure of more than 13 times GDP (16 times GNP) is only an absurdity.
Post a Comment
<< Home