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But the Greek experience shows that excess borrowing can store up trouble.
The Turkish economy is suffering from excess borrowing and has become overheated, the bank said.
For example, the bank might recommend politically unpopular restrictions on credit to prevent excess borrowing.
Even as China is frequently lambasted for excess saving, the same critics also accuse it of excess borrowing.
The economic stability of the pre-crisis era may have fuelled the excess borrowing that led to the financial crisis.
Second, the interest rate set by the European Central Bank (the ECB) a decade ago was too low for Greece, and it encouraged excess borrowing and a housing boom, and eventually a bust and a huge debt overhang by 2010.
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On the world's most intractable macroeconomic challenge, unwinding the imbalances between excessive borrowing in America and excess saving elsewhere, the IMF has almost no clout.
This week, the White House is expected to lay out a new regulatory plan aimed at curbing the excess of borrowing and risk-taking that is widely blamed for contributing to the crisis, with new rules aimed at markets in the United States as well as overseas.
profit on any actual value in excess of the borrowed capital remaining unpaid.
Even without lending and borrowing excesses, though, our high rate of homeownership would likely create problems as the economy slows.
It worries that a rate cut would be seen as a U-turn, signalling a retreat from its quest to rein in borrowing excesses.
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