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Debt and Financial Crises (English)

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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Koh,Wee Chian; Kose,Ayhan; Nagle,Peter Stephen Oliver; Ohnsorge,Franziska Lieselotte; Sugawara,Naotaka.

Debt and Financial Crises (English). Policy Research working paper|no. WPS 9116 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/560291579701550183

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