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Are Corporates Overleveraged?
There is concern that corporations have borrowed too much, and that therefore bank balance sheets are strained as well. Contrary to this popular view, it is argued here that the company finance data of the corporate sector in general does not suggest that this is so.
The author thanks Vijayata B Sawant and S L Shetty for their help in preparing this note. He also thanks two anonymous referees for very useful comments on an earlier version of this article.
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