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Asias corporate debt: assessingits role in financial vulnerability

In: The Sustainability of Asia’s Debt

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  • Hernán D. Seoane

Abstract

This chapter studies the recent dynamics of nonfinancial corporate debt in Asian economies after the global financial crisis and compares it with the environment before the 1997 Asian financial crisis. The analysis suggests that even though the current situation differs from the 1997 crisis, nonfinancial corporate debt potentially disrupts systemic fragility. We design a vector autoregressive model to study the impact of corporate debt shocks and their contribution to financial vulnerability. We address some potential consequences of the coronavirus disease (COVID-19) crisis in the context of private debt overhang and discuss the role of macroprudential policy.

Suggested Citation

  • Hernán D. Seoane, 2022. "Asias corporate debt: assessingits role in financial vulnerability," Chapters, in: Benno Ferrarini & Marcelo M. Giugale & Juan J. Pradelli (ed.), The Sustainability of Asia’s Debt, chapter 7, pages 188-213, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20587_7
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