Abstract
The indebtedness of the Spanish nonfinancial private sector has increased significantly in recent years. For both households and nonfinancial corporations, the average annual growth rate of financing between 1995 and 2004 stood at around 15 percent and, as a result, the indebtedness ratios for both sectors have reached and subsequently exceeded the related figures for the euro area (Figure 19.1).
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Bibliography
Hernando, I. and C. Martinez-Carrascal, 2003, “The Impact of Financial Variables on Firms’ Real Decisions: Evidence from Spanish Firm-Level Data”, Banco de Espana, Working Paper No. 0319.
Malo de Molina, J.L. and E Restoy, 2003, “Recent Trends in Corporate and Household Balance Sheets in Spain: Macroeconomic Implications”, Banco de Espana, Occasional Paper No. 0402.
Malo de Molina, J.L. and E Restoy, 2005, “The Spanish Survey of Household Finances (EFF): Description, Methods and Preliminary Results”, Banco de Espana, Economic Bulletin, January.
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© 2007 Carmen Martinez-Carrascal
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Martinez-Carrascal, C. (2007). The Growth of Private Sector Debt in Spain: Causes and Consequences. 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_19
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DOI: https://doi.org/10.1057/9781137001542_19
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-35636-2
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