expansion of global nonfinancial corporate debt after the 2008-09 global financial crisis. Nonfinancial corporate debt steadily … increased after the crisis, especially in emerging economies. Between 2008 and 2018, corporate debt increased from 56 to 96 …. Nonfinancial corporate debt was mainly issued through bond markets, and its growth can be largely attributed to accommodative …

This paper investigates empirically the linkages between corporate debt overhang and investment activity at the firm … investment may be discouraged by high levels of debt that put at risk future profits, as well as firm dimensions that may sharpen … the debt-investment link. Using balance sheet data from a broad set of emerging market and developing economy firms, the …