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Author Herzberg, Valerie,
Title Assessing the risk of private sector debt overhang in the Baltic Countries / prepared by Valerie Herzberg.
Imprint [Washington, D.C.] : International Monetary Fund, 2010.

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LOCATION CALL # STATUS MESSAGE
 OHIOLINK IMF EBOOKS    ONLINE  
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Author Herzberg, Valerie,
Series IMF working paper ; WP/10/250
IMF working paper ; WP/10/250.
Subject Credit -- Baltic States.
Credit control -- Baltic States.
Alt Name International Monetary Fund. European Department,
Description 1 online resource (35 pages) : color illustrations
Bibliography Note Includes bibliographical references.
Note Print version record.
Summary Between 2000 and 2007 nonfinancial private sector credit expanded rapidly in the Baltic countries, resulting in a non-negligible build-up of debt. Could this legacy debt hold back the economic recovery of the region? This paper analyzes the setting in each of the three countries and, with the help of an experimental Debt Overhang Index (DOI), draws tentative conclusions for domestic demand.
Contents Cover Page; Title Page; Copyright Page; Contents; I. Executive Summary and Introduction; II. How Indebted is the Nonfinancial Private Sector in the Baltic Countries? Some Stylized Facts; 1. Private Sector Domestic Bank Credit; 2. Nonfinancial Private Sector Loans over GDP, 2008; 3. Leverage Ratios of the Household Sector; 4. Leverage Ratios of the Nonfinancial Corporate Sector; 1. Volatility of Operating Surplus; 5. Debt-to-Equity of Nonfinancial Corporate Sectors, 2008; 6. Debt Service Ratios; III. Will Private Sector Debt Weigh on Domestic Demand? Indications from a Debt Overhang Index.
7. Debt Deleveraging Experience in 1990s Sweden and Post-Asian Crisis2. Debt Overhang Index for the Household Sector; 8. Distribution of Consumption and Leverage by Income Quintile; 3. Debt Overhang Index for the Corporate Sector; 9. Distribution of Corporate Investment and Leverage by Sector; 10. Cash Flows of Quoted Baltic Companies; 4. Construction Volumes and Office Vacancies; IV. A Preliminary Assessment of the DOI in the Baltic Countries; 11. GDP and Domestic Demand Since 2007/08 Peak; 12. Household Consumption and Gross Capital Formation in Euro Area.
13. Consumption in the Baltic Countries14. Investment in the Baltic Countries; V. Conclusion and Policy Challenges; I. Credit Growth, House Prices and FDI in the Baltic Economies; II. Construction of the Debt Overhang Index; III. OLS Regressions of Household Consumption and Corporate Investment in the Baltic Countries and the Euro Area; References; Footnotes.
ISBN 1283569566
9781283569569
9781455227464
1455227463
OCLC # 698591398
Additional Format Print version: Herzberg, Valerie. Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries. Washington : International Monetary Fund, 2010 9781455209507



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