无论从企业层面还是国家层面,杠杆率都是衡量债务风险的通用指标。在企业财务中,杠杆率一般用公司权益资本与资产负债表中总资产的比率衡量。但是在国家层面,由于权益资本和总资产都难以进行测算,因此一般使用负债总量占GDP的比例进行衡量,严格来说,这是债务率的概念。杠杆修复之所以重要,与私人部门的杠杆活动具有明显的顺周期特性有 Leverage is a common measure of debt risk, both at the corporate level and at the national level. In corporate finance, leverage is generally measured as the ratio of the company’s equity capital to total assets in the balance sheet. However, at the national level, since both equity capital and total assets are difficult to measure, the total debt-to-GDP ratio is generally used to measure. This is strictly speaking the concept of debt ratio. The reason why the lever repair is important, and the leverage of the private sector has obvious procyclical characteristics