-eligible countries to reach higher growth, but it remains unclear whether this is through higher investment or another channel. Also, the … out strong programs of macroeconomic adjustment and structural reforms designed to promote growth and reduce poverty. Now … that the HIPC Initiative is nearly completed, this paper investigates whether the initiative managed to spur growth, either …

-sustaining growth based on private consumption and investment. This paper finds that Japanese nonfinancial firms have accumulated cash … at the expense of investment and dividends, hampering this transition. The evidence suggests that cash accumulation is … plays only a limited role. These firms have cash holdings available for investment of about 5 percent of GDP. Policy options …

around 3¼ percent, but growth could reach 4-5 percent with strong pro-active policies including (i) improving investment and … predict stagnation (Meade, 1961). We use growth accounting to analyze the sources of past growth and project potential ranges … of growth through 2033. Growth averaged 4½ percent over the past 20 years. Our baseline suggests future growth rates …

buffers. They also expanded abroad while the pace of corporate investment moderated. Regarding the latter, model estimates on … aggregate corporate investment over the post bubble period show that expectation about future profitability, in particular …

conditional leverage distribution. For nonbanks, we find a U-shaped relationship between asset size and tax responsiveness …, although this pattern does not hold universally across the conditional leverage distribution. For banks, in contrast, the tax … high conditional leverage ratios feature a significant, positive tax response. …

cross-sectional analysis, the results show that pre-crisis leverage and short-term debt have had negative effects on the … speed of the recovery, while asset tangibility has had positive effects. The negative effect of leverage is non …-linear, being particularly strong in firms with high pre-crisis leverage. Furthermore, the effects are different for advanced and …

' exante leverage and insurance decisions are associated with aggregate demand externalities. The competitive equilibrium … inferior to macroprudential policy in addressing excessive leverage, and it can even have the unintended consequence of … increasing leverage. …

leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias …

financing through a probit model, using a panel of 18 countries in 2000-11. Results suggest that higher leverage and maturity … the model suggests that some vulnerabilities may be building in Latin America led by leverage, currency exposures and …