Advanced Search
MyIDEAS: Login to save this paper or follow this series

Recasting the Power Politics of Debt: Structural Power, Hegemonic Stabilisers and Change


Author Info

  • Antoniades, Andreas


The 2007/8 financial crisis exposed and exacerbated the debt pathologies of the ‘West’. The paper examines whether the new global debt relations that have been generated by this crisis have transformed global power politics, changing the way in which the ‘global South’ and the ‘global North’ interrelate and interact. To do so the paper juxtaposes the G20 advanced and emerging economies and examines a number of key indicators related to debt, indebtedness and financial leverage. This research leads to two main findings: (i) the crisis has indeed given rise to new global debt relations. Any reforms, therefore, in the post-crisis global political economy will take place in an environment that favours the emerging powers (ii) The US maintains its capacity to control the parameters of this new global debt politics and economics, but cannot impose a solution to the existing ‘global/hegemonic imbalances’ on the emerging powers.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL:
File Function: original version
Download Restriction: no

Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 47015.

as in new window
Date of creation: 03 Apr 2013
Date of revision:
Publication status: Forthcoming in Third World Quarterly 2.34(2013): pp. 214-232
Handle: RePEc:pra:mprapa:47015

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page:
More information through EDIRC

Related research

Keywords: debt politics; global debt relations; geopolitics; G20; debt crisis; financial crisis; debt thresholds; external debt; NIIP; global debtors; exorbitant privilege; currency composition of debt; valuation effects;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:


References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "From Financial Crash to Debt Crisis," NBER Working Papers 15795, National Bureau of Economic Research, Inc.
  2. Stephen Cecchetti & Madhusudan Mohanty & Fabrizio Zampolli, 2011. "The real effects of debt," BIS Working Papers 352, Bank for International Settlements.
  3. World Bank, 2012. "Global Development Finance 2012 : External Debt of Developing Countries," World Bank Publications, The World Bank, number 2392, August.
  4. World Bank, 2012. "The Little Data Book on External Debt 2012," World Bank Publications, The World Bank, number 9365, August.
  5. Thierry Bracke & Matthieu Bussière & Michael Fidora & Roland Straub, 2008. "A framework for assessing global imbalances," Occasional Paper Series 78, European Central Bank.
  6. Robert Wade, 2008. "The First-World Debt Crisis of 2007-2010 in Global Perspective," Challenge, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 51(4), pages 23-54, July.
  7. Matthew Higgins & Thomas Klitgaard & Cédric Tille, 2006. "Borrowing without debt? Understanding the U.S. international investment position," Staff Reports, Federal Reserve Bank of New York 271, Federal Reserve Bank of New York.
Full references (including those not matched with items on IDEAS)



This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:47015. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.