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Measuring Vulnerabilities in the Non-Financial Corporate Sector Using Industry- and Firm-Level Data

Author

Listed:
  • Timothy Grieder
  • Michal Lipsitz

Abstract

Aggregate non-financial corporate debt-to-GDP has been growing rapidly in recent years and is at an all-time high. This growth began in 2011 and accelerated as the oil price shock affected the Canadian economy. In light of these developments, we use industry- and firm-level data to measure vulnerability indicators in the non-financial corporate sector. We find that developments in the oil and mining sectors have had a noticeable impact on aggregate non-financial corporate indebtedness and other vulnerability indicators.

Suggested Citation

  • Timothy Grieder & Michal Lipsitz, 2018. "Measuring Vulnerabilities in the Non-Financial Corporate Sector Using Industry- and Firm-Level Data," Staff Analytical Notes 2018-17, Bank of Canada.
    • Handle: RePEc:bca:bocsan:18-17
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    Cited by:

    1. Timothy Grieder & Claire Schaffter, 2019. "Measuring Non-Financial Corporate Sector Vulnerabilities in Canada," Staff Analytical Notes 2019-15, Bank of Canada.

    More about this item

    Keywords

    Business fluctuations and cycles; Credit and credit aggregates; Financial stability; Monetary and financial indicators; Recent economic and financial developments; Sectoral balance sheet;
    All these keywords.

    JEL classification:

    • G - Financial Economics
    • G0 - Financial Economics - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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