debt practices and financialization in contemporary societies. I draw on the literature to discuss that in the business of … debt, the winners are likely to be elite borrowers and powerful financial organizations; the losers are likely to be non …-elite borrowers who face various constraints as evidenced by their debt profile, have low power compared to financial organizations in …

particular, the interplay between government debt and private leverage is attracting increasing attention in the current context …

, together with drastic budgetary cuts aiming at curbing public debt to maintain sustainability. Finally, the paper tries to …

financial stress measure, the debt-to-GDP ratio, borrowing costs and real GDP growth. Our model allows for the impact of debt … low as opposed to the high-growth regime. We also find that positive shocks to debt/GDP depress economic growth and raise …

: 1) The municipalities that borrow the most are the most developed ones; 2) most municipalities borrow debt from … debt rapidly in spite of having little access to commercial banks. The study uses annual panel-data of the 125 …