Publications

Here are all of our publications listed chronologically. You can also find the publications relating to single geography under “Publications by geography” or narrow down your search using the “Advanced filter”.

Latest publications on Deleveraging

Spain | Private debt, a situation better than in the past

October 3, 2022

Private debt among Spanish companies and households, according to the Bank of Spain’s Financial Accounts for the Spanish Economy, currently stands at 135% of GDP, in line with the eurozone (137%). While both economies now find themselves at a similar juncture, they have followed very different paths.

China | To bail or not to bail? Understanding the logic behind Chinese-style deleveraging

September 24, 2021

With the economic recovery becoming entrenched in the aftermath of the Covid-19 pandemic, China’s authorities shifted their focus to containing the overall leverage. This report focuses on the latest development of firms’ default to understand the logics behind the authorities’ decision to selectively extend their support.

China | Corporate deleveraging campaign: from "proactive" to "passive"

February 26, 2021

Chinese authorities’ 2016-2018 corporate deleveraging campaign seems to have given way to the escalating China-US tensions and the COVID-19, however, it restarts now in a more "passive" way.

El regreso del nuevo crédito

April 7, 2014

Las previsiones de BBVA Research apuntan a que la tendencia del nuevo crédito ya ha entrado en terreno positivo.

Deleveraging from Emerging Markets: the Case of Euro-area Banks

March 22, 2013

This paper shows stylized facts, based on aggregate and sector specific data, on the rather large retrenchment of cross-border lending by Euro-area banks into emerging markets.

El desapalancamiento de la economía española

November 27, 2012

El desapalancamiento interno y externo es fundamental para lograr una recuperación fuerte y sostenida de la economía

25 años de crecimiento. ¿Toca ahora austeridad?

October 10, 2012

El crecimiento en España se explica por una acumulación de factores de producción, cuyas principales características difícilmente se repetirán

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