If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so.
#debtcrisis #recession #economy
Harris, M. and Raviv, A., 1990. Capital structure and the informational role of debt. The Journal of Finance
Chava, S. and Roberts, M.R., 2008. How does financing impact investment? The role of debt covenants. The journal of finance
Holmstrom, B., 2015. Understanding the role of debt in the financial system.
Frost, C.A. and Bernard, V.L., 1989. The role of debt covenants in assessing the economic consequences of limiting capitalization of exploration costs. Accounting Review
Ariff, M., 1988. lsIamic banking. Asian‐Pacific Economic Literature
Graham’s Video – https://www.youtube.com/watch?v=Uw3EhsmLe08&t=1385s