The current European financial crisis is a triple threat and the austerity measures that have been pursued to tackle it (at least so far) have led to a fiscal trap that slides into a deflationary vortex which, on the one hand, pushes economies into a recession by increasing the number of the...

China’s lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding China’s loans, also the associated defaults remain “hidden”, as missed payments and restructuring details are not disclosed. We construct an encompassing dataset of...