债务积累和货币脆弱性：来自全球市场的证据.docxVIP

CONTENTS TABLES AND FIGURES iv ABSTRACT v THE DEBT BUILDUP IN EMERGING MARKETS IN THE AFTERMATH 1 OF THE GLOBAL FINANCIAL CRISIS DEBT, RECESSION, AND FINANCIAL STABILITY: A LITERATURE REVIEW 4 EMPIRICAL METHODOLOGY AND DATA 5 CMAX Index 6 Data 10 DEBT BUILDUP AND CURRENCY VULNERABILITY: THE EMPIRICAL EVIDENCE 11 Alternative Proxies for Currency Vulnerability 12 The Role of Foreign Currency-Denominated Debt 15 CONCLUSION AND POLICY IMPLICATIONS 16 APPENDIX 18 REFERENCES 21 TABLES AND FIGURES TABLES 1 Summary Statistics 10 2 Private Debt, Public Debt, and Curre