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Measuring Debt Burden

Author

Listed:
  • Sofya Donets

    (Bank of Russia, Russian Federation)

  • Alexey Ponomarenko

    (Bank of Russia, Russian Federation)

Abstract

We analyse two debt burden measures - credit-to-GDP and debt service ratio. For that purpose we calculate equilibrium debt ratios on the basis of fundamental macroeconomic indicators and compare them with international data. We conclude that the current value of this ratio in Russia is likely to be close to the equilibrium or exceed it.

Suggested Citation

  • Sofya Donets & Alexey Ponomarenko, 2015. "Measuring Debt Burden," Bank of Russia Working Paper Series wps5, Bank of Russia.
    • Handle: RePEc:bkr:wpaper:wps5
    as

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    File URL: http://www.cbr.ru/Content/Document/File/87550/wps_5_e.pdf
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    References listed on IDEAS

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    7. Stephen Cecchetti & Enisse Kharroubi, 2012. "Reassessing the impact of finance on growth," BIS Working Papers 381, Bank for International Settlements.
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    Citations

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    Cited by:

    1. Yulia Ushakova & Dmitry Chernyadyev, 2017. "The effects of Financial Shock on Russian short-term equilibrium interest rates," Bank of Russia Working Paper Series note11, Bank of Russia.
    2. Mamedli Mariam & Andrey Sinyakov, 2018. "Regional heterogeneity of household lending based on the findings of the household finance survey: regional features and potential risks," Bank of Russia Working Paper Series note16, Bank of Russia.
    3. Mamedli Mariam & Andrey Sinyakov, 2017. "Consumer lending in Russia: prospects and risks based on household finance survey," Bank of Russia Working Paper Series note10, Bank of Russia.
    4. Elena Deryugina & Alexey Ponomarenko, 2019. "Determination of the Current Phase of the Credit Cycle in Emerging Markets," Russian Journal of Money and Finance, Bank of Russia, vol. 78(2), pages 28-42, June.

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    More about this item

    Keywords

    debt burden; equilibrium credit-to-GDP ratio; debt service ratio (DSR); Russia;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G01 - Financial Economics - - General - - - Financial Crises

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