This book, edited and researched by experts at the International Monetary Fund (IMF), looks at fiscal adjustment plans in advanced economies, comparing the planned or projected reductions in debts and deficits to the actual outcomes. It also looks at whether spending exceeded expectations or...

Context: the financial revolution -- The bank of England and the suspension of cash payments (1797-1821) -- Government loan contracting, 1793-1810 -- The house of Rothschild -- Taxation -- Peace and its consequences, 1815-1821 -- Conclusion.

Historical context: the export of capital, 1815-1914 -- External financing during the interwar period and the Great Depression, 1919-39 -- Private market lending -- Debt service disruptions -- International relations and interwar external sovereign debts -- External sovereign debt, syndicated...