significant number of debtors with overdue debts permanently escape from debt collectors. Accordingly, in our sample, overdue … a poverty trap mechanism exacerbating financial exclusion, hence resulting in significant losses for both the individual … and society. We recommend paying more attention to smoothing credit cycles and resolving non-performing debt obligations. …

The rapid accumulation of private debt is widely viewed as a major risk to financial and economic stability. This paper … systematically and comprehensively assesses the effect of private debt buildup on economic growth. In the spirit of Mian, Sufi, and … Verner (2017) that separately examine the effects of two types of private debt, i.e., household debt and corporate debt, on …