Koh, Wee Chian; Kose, M. Ayhan; Nagle, Peter; Ohnsorge, … - 2020
examining the linkages between debt and the probability of financial crises; and a set of case studies of rapid debt buildup … that ended in crises. The paper reports four main results. First, episodes of debt accumulation are common, with more than … 500 episodes occurring since 1970. Second, around half of these episodes were associated with financial crises which …