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Impact of Actual Interest Rates on the Debt Stock of Private Sector

Author

Listed:
  • A. K. Moiseev

    (Institute for Economic Forecasting, Russian Academy of Sciences)

  • M. V. Cherkovets

    (Institute for Economic Forecasting, Russian Academy of Sciences)

Abstract

The purpose of this study is to analyze the dynamics of the private sector’s debt stock in the context of interest rate changes and to assess the corresponding changes in macro-financial parameters. The private sector is structured into two groups—nonfinancial corporations (business) and households (population), for each of which, along with the changes in interest rates, other factors of debt behavior are analyzed. The study includes Russia, the United States, France, Germany, and Finland1. The values ​​of an actual credit rate are calculated, its dynamics are compared with the dynamics of the statistical indicators of the average credit rate. When analyzing the dynamics of credit debt, the changes in a nominal volume of debt and a volume of payments for debt servicing are taken into account, and the net increase (decrease) in the debt stock is calculated.

Suggested Citation

  • A. K. Moiseev & M. V. Cherkovets, 2019. "Impact of Actual Interest Rates on the Debt Stock of Private Sector," Studies on Russian Economic Development, Springer, vol. 30(6), pages 614-626, November.
    • Handle: RePEc:spr:sorede:v:30:y:2019:i:6:d:10.1134_s1075700719060121
    DOI: 10.1134/S1075700719060121
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    References listed on IDEAS

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    1. V. V. Ivanter, 2018. "Prospects of Economic Development in Russia," Studies on Russian Economic Development, Springer, vol. 29(3), pages 225-227, May.
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    Cited by:

    1. D. B. Kuvalin & A. K. Moiseev & A. A. Shirov, 2020. "The Impact of Price Dynamics in Russia on Monetary Policy and Economic Development," Studies on Russian Economic Development, Springer, vol. 31(5), pages 533-540, September.

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