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Applied Economics Letters Volume 27, 2020 - Issue 2
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Articles

Can debt overhang help explain the declining growth rate of investment in China?

Lili LiuSchool of Economics, Huazhong University of Science and Technology, Wuhan, ChinaView further author information
,
Richard J. CebulaDavis College of Business, Jacksonville University, Jacksonville, FL, USAView further author information
,
Maggie FoleyDavis College of Business, Jacksonville University, Jacksonville, FL, USAView further author information
&
Fangping PengBusiness School, SunYat-Sen University, Guangzhou, ChinaCorrespondence[email protected]
View further author information
Pages 82-85 | Published online: 20 May 2019

References

  • Cordella, T., L. A. Ricci, and M. Ruiz-Arranz. 2010. “Debt Overhang or Debt Irrelevance?.” IMF Staff Papers 57 (1): 1–24. doi:10.1057/imfsp.2009.20.
  • Deshpande, A. 1997. “The Debt Overhang and the Disincentive to Invest.” Journal of Development Economics 52 (1): 169–187. doi:10.1016/S0304-3878(96)00435-X.
  • Hansen, B. E. 1999. “Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference.” Journal of Econometrics 93 (2): 345–368. doi:10.1016/S0304-4076(99)00025-1.
  • Hennessy, C. 2004. “Tobin’s Q, Debt Overhang and Investment.” Finance 59 (4): 1717–1742. doi:10.1111/j.1540-6261.2004.00677.x.
  • Krugman, P. 1988. “Financing versus Forgiving a Debt Overhang.” Development Economics 29 (2): 253–268. doi:10.1016/0304-3878(88)90044-2.
  • Lawless, M., B. O’Connell, and C. O’Toole. 2015. “SME Recovery following a Financial Crisis: Does Debt Overhang Matter?” Journal of Financial Stability 19 (1): 45–59. doi:10.1016/j.jfs.2015.05.002.
  • Lotti, F. and J. Marcucci. 2007. “Revisiting the Empirical Evidence on Firms Money Demand.” Journal of Economics and Business 59 (1): 0–73. doi:10.1016/j.jeconbus.2005.12.003.
  • Moyen, N. 2007. “How Big Is the Debt Overhang Problem?” Journal of Economic Dynamics and Control 31 (2): 433–472. doi:10.1016/j.jedc.2005.10.008.
  • Myers, S. C. 1977. “The Determinants of Corporate Borrowing.” Journal of Financial Economics 5 (2): 147–175. doi:10.1016/0304-405X(77)90015-0.
  • Perkins, D. H. 2015. “Understanding the Slowing Growth Rate of the People’s Republic of China.” Asian Development Review 32 (1): 1–30. doi:10.1162/ADEV_a_00040.

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