Doświadczenia historyczne w zakresie niewypłacalności państw – wnioski dla współczesnej polityki gospodarczej
State insolvency – historical experience and lessons for current economic policy

Summary/Abstract: The ongoing public debt crisis in advanced economies is unarguably unprecedented in terms of the size of the debt as well as political and social threats that it implicates. The theory of economics states variety of ways how public debt crises can be resolved However, in reality the choices are limited. The paper describes historical experiences of how the sovereign debt crises have been dealt with during the last 200 years, and lessons that can be learnt by current economic policy.

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