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HYPE Webinar: Finance, Trade and Development: Defining Sovereign Debt Sustainability in an Interdependent World

Wednesday, January 18, 2023 - 16:00 to 17:30

The History and Political Economy (HYPE) of Business and Finance is a research cluster based in The Open University Business School. It brings together scholars who aim at developing a critical approach to business and financial theory.

This event is part of a series focused on interdisciplinary research using insights from political economy and history.

As the fateful date of 2030 approaches, and other even more imminent environmental challenges loom, it is urgent that we re-examine the principles behind the international approach to achieving the Sustainable Development Goals (UN 2015). Views differ by the ethical and political beliefs embraced and, crucially, by the underlying economic theories. However, the financial affordability of the measures needed to achieve the Goals is one key common concern and, arguably, the biggest obstacle developing countries face. For this reason, being able to correctly evaluate debt sustainability has become very important for planning purposes, for both the lenders and the borrowers.

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UNCTAD’s concept of interdependence can be helpful to understand the complex interaction between the dimensions of finance, trade, and development, with a view to exploring the trade-offs or mutual benefits between achieving the goals and maintaining financial sustainability.

Presenter: Orsola Costantini

Orsola Costantini is Economic Affairs Officer at the United Nations Conference on Trade and Development (UNCTAD), in the Division on Globalization and Development Strategies. Previously, she worked as Senior Economist at the Institute for New Economic Thinking, in New York. An alumna of Ghislieri college, she graduated from the University of Pavia in Italy and, in 2013, received her PhD in Economics from the same institution. Her articles have appeared in various scholarly journals and books including History of Political Economy and Journal of Economic Issues. She is associate editor of the International Journal of Political Economy and a member of the editorial board of Economia & Lavoro. In 2014, her work on the cyclically adjusted budget estimate was awarded a prize by the Italian Association for the History of Political Economy (STOREP).