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Asia has shown the world what success in economic development looks like. From the amazing transformations of Japan … China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies …? What should policy makers do to keep Asia's finances stable? Should markets worry? These are the core questions of this …
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This paper empirically investigates the relationship between the speed of buildup of private debt (household and corporate) and the depth of recessions. To do this, we differentiate between financial recessions and normal recessions on the basis of how quickly their private debt builds up. In...
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Government debt has risen substantially in emerging market and developing economies (EMDEs) since the global financial crisis. The current environment of low global interest rates and weak growth may appear to mitigate concerns about elevated debt levels. Considering currently subdued...
Persistent link: https://www.econbiz.de/10012229772
Government debt has risen substantially in emerging market and developing economies (EMDEs) since the global financial crisis. The current environment of low global interest rates and weak growth may appear to mitigate concerns about elevated debt levels. Considering currently subdued...
Persistent link: https://www.econbiz.de/10012180739
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In this paper we empirically explore the relationship between debt and output in a panel of 72 countries over the period 1970-2014 using a vector autoregression (VAR). We document two puzzling empirical findings that contrast with what is predicted by a standard small open economy model by...
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