credit; (ii) the over-indebtedness of companies and households, followed by debt deflation; (iii) the development of … credit and indebtedness on the sustainability of economic growth. We have shown that the distortions caused by the credit are …

the presence of different variables in explaining the level of indebtedness in both periods. In the first period (1991M1 …- 1998M12), only financial effort is relevant when explaining the level of indebtedness of the economic agents. In the second … statistically significant in the increase of the indebtedness level. The research supports that in the first period, the increase of …

will lead, in the end to increasing municipal indebtedness. Increasing indebtedness, as a rule, results in increasing debt …

The current crisis revealed the unsustainable levels of private sector indebtedness, fuelled by a prolonged period of …

pronounced shift in the scale of debt reduction and increased profitability. In another group indebtedness continued to rise and …