China debt overhang leads to rising share of ‘zombie’ firms

Jonathan Davis and Brendan Kelly

Dallas Fed Economics from Federal Reserve Bank of Dallas

Abstract: China’s private sector debt ballooned from 2008 through 2016, among the largest and most sustained such increases historically. Notably, this Chinese credit growth was financed entirely from domestic savings, unlike many other examples of rapid credit expansion elsewhere.

Keywords: China; credit; debt (search for similar items in EconPapers)
Date: 2025-12-23
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