Abstract
In this chapter, I discuss some of the features underlying the private sector debt evolution in Portugal throughout the 1990s. Rapid private sector credit growth, both in the household and nonfinancial corporate sectors, together with a continuous edging up of debt-to-income ratios, has been observed since the mid-1990s. These developments occurred against the background of institutional change in several dimensions dating back from the mid-1980s, including: the liberalization of an almost fully nationalized and deeply regulated financial market; widespread privatization and consolidation of the banking sector; disintermediation; an evolving international environment towards more competition; easier entry into the banking business; capital mobility; and the adoption of post-Basel I supervisory requirements and tools.
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© 2007 Nuno Ribeiro
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Ribeiro, N. (2007). Debt Growth: Factors, Institutional Issues and Implications—The Portuguese Case. In: Enoch, C., Ötker-Robe, İ. (eds) Rapid Credit Growth in Central and Eastern Europe. Procyclicality of Financial Systems in Asia. Palgrave Macmillan, London. https://doi.org/10.1057/9781137001542_18
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DOI: https://doi.org/10.1057/9781137001542_18
Publisher Name: Palgrave Macmillan, London
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