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Government Finance and the Debt Market

In: Public Finance and Islamic Capital Markets

Author

Listed:
  • Syed Aun R. Rizvi

    (Lahore University of Management Sciences)

  • Obiyathulla I. Bacha

    (International Centre for Education in Islamic Finance (INCEIF))

  • Abbas Mirakhor

    (International Centre for Education in Islamic Finance (INCEIF))

Abstract

Across the world, debt has become a common accepted phenomenon. It is argued that it is second nature to humans to borrow and accumulate debt. As governments are a reflection of their societies, the nature of debt accumulation is continues. This chapter explores questions such as: what is government debt? Why is it even there in the first place? How does it impact the economic growth of society? The chapter attempts to answer these questions in a simple manner, and then leads towards an examination of the alarming current debt statistics of the world. We are standing on a mountain of debt and the future looks bleak unless something is done not soon, but now.

Suggested Citation

  • Syed Aun R. Rizvi & Obiyathulla I. Bacha & Abbas Mirakhor, 2016. "Government Finance and the Debt Market," Palgrave Studies in Islamic Banking, Finance and Economics, in: Public Finance and Islamic Capital Markets, chapter 0, pages 99-115, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-1-137-55342-3_5
    DOI: 10.1057/978-1-137-55342-3_5
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