Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and developing economies since 1970; a series of econometric models examining the linkages between debt and the probability of financial crises; and a set of case...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2020/01/22
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Рабочий документ в рамках исследования вопросов политики
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WPS9116
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1
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1
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2020/01/22
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Disclosed
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Debt and Financial Crises