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Evidence form Sovereigns and Firms
出版International Monetary Fund, 2019-02-05
主題Business & Economics / Industries / Financial ServicesBusiness & Economics / Money & Monetary PolicyBusiness & Economics / Public Finance
ISBN14843805339781484380536
URLhttp://books.google.com.hk/books?id=2pwYEAAAQBAJ&hl=&source=gbs_api
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註釋The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is associated with financial crises. Moreover, debt maturity can have an impact on the ability of firms to undertake long-term productive investments and, as a result, affect economic activity. The aim of this paper is to examine the evolution and determinants of debt maturity and to characterize differences across countries.