ECB paper examines eurozone bond financing
Researchers present “first comprehensive study” of rise in bond financing over last 20 years
Research published by the European Central Bank looks at the financial stability implications of the recent increase in bond financing in the eurozone.
In the working paper, Olivier Darmouni and Melina Papoutsi present what they call “the first comprehensive study” of the subject. The authors have compiled a large dataset on bonds issued by both public and private eurozone firms over the last two decades.
In that time, the aggregate amount of bond financing used by eurozone firms has grown
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