How does debt affect macroeconomic stability? The answer to this question has important
implications, because both public and private debt levels have reached historic highs across …

Finance is a vital ingredient for economic growth, but there can also be too much of it. This
study investigates what fifty years of data for OECD countries have to say about the role of …

Household debt has risen markedly since the turn of the century and stands at a historically
high level in most OECD countries. This paper offers an overview of developments in …

The current crisis revealed the unsustainability of private sector indebtedness levels, fuelled,
in the recent past, by a prolonged period of rapid credit expansion in some EU Member …

本文基于91 个国家1983-2012 年的面板数据, 采用系统GMM 估计方法和二元面板离散选择
模型对金融杠杆, 经济增长与金融稳定之间的关系进行了实证分析. 实证结果表明:(1) …

Despite sustained efforts made in recent years to rein in budget deficits, a majority of OECD
countries still face substantial public finance consolidation needs. While essential to avoid …

The process of financial liberalization has given rise to a widespread financialization
process in most developed economies and many emerging economies. One of the most …

To stimulate economic growth, China has launched multiple economic stimulus plans in
recent years, intensifying corporate debt financing and subsequently elevating the leverage …

This paper uses ANOVA and static and dynamic panel regression analyses, to investigate
the capital structure behavior of strongly balanced and matched samples of Polish (PL) and …

Historically high household debt in several economies is calling for a deleveraging, but
according to some economists, this adjustment can slow GDP growth by weighing on …