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Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries
IMF Working Papers from International Monetary Fund
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.
Keywords: Credit; Baltics; Credit expansion; Economic models; Economic recovery; Nonbank financial sector; Public debt (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:imf:imfwpa:10/250
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