This paper assesses the extent to which debt overhang poses a constraint to economic activity in Emerging Europe, as the region emerges from the recent financial and economic crisis. At the macroeconomic level, it finds that the external imbalance problem for Emerging Europe has been in most cases more one of flows (high current account deficits in the pre-crisis years) rather than large stocks of external debt. A high reliance on equity funding means...
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INFORMATION
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2011/08/01
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Document de travail de recherche sur les politiques
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WPS5784
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1
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1
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2011/08/01
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Disclosed
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Debt overhang in emerging Europe ?
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Life in Transition Survey
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