A Constrained Choice Impact Of Concessionality Requirements On Borrowing Behavior
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A Constrained Choice Impact Of Concessionality Requirements On Borrowing Behavior
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Author : Mr.Calixte Ahokpossi
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-24
A Constrained Choice Impact Of Concessionality Requirements On Borrowing Behavior written by Mr.Calixte Ahokpossi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-24 with Business & Economics categories.
This paper uses the propensity matching score approach to assess the impact of the IMF’s debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The paper finds that countries under the DLP borrow significantly higher amounts of concessional resources. However, there is no evidence that the DLP significantly impacts the level of non-concessional borrowing nor the terms of such borrowing. This result is confirmed by the heterogeneity analysis, suggesting that the level of development, rather than concessionality requirements, is the key driver of non-concessional borrowing.
A Constrained Choice Impact Of Concessionality Requirements On Borrowing Behavior
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Author : Mr.Calixte Ahokpossi
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-24
A Constrained Choice Impact Of Concessionality Requirements On Borrowing Behavior written by Mr.Calixte Ahokpossi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-24 with Business & Economics categories.
This paper uses the propensity matching score approach to assess the impact of the IMF’s debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The paper finds that countries under the DLP borrow significantly higher amounts of concessional resources. However, there is no evidence that the DLP significantly impacts the level of non-concessional borrowing nor the terms of such borrowing. This result is confirmed by the heterogeneity analysis, suggesting that the level of development, rather than concessionality requirements, is the key driver of non-concessional borrowing.
Imf Research Bulletin December 2014
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-15
Imf Research Bulletin December 2014 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-15 with Business & Economics categories.
The December 2015 IMF Research Bulletin features a sampling of key research from the IMF. The Research Summaries in this issue look at “The Impact of Deflation and Lowflation on Fiscal Aggregates (Nicolas End, Sampawende J.-A. Tapsoba, Gilbert Terrier, and Renaud Duplay); and “Oil Exporters at the Crossroads: It Is High Time to Diversify” (Reda Cherif and Fuad Hasanov). Mahvash Saeed Qureshi provides an overview of the fifth Lindau Meeting in Economics in “Meeting the Nobel Giants.” In the Q&A column on “Seven Questions on Financial Frictions and the Sources of the Business Cycle, Marzie Taheri Sanjani looks at the driving forces of the business cycle and macroeconomic models. The top-viewed articles in 2014 from the IMF Economic Review are highlighted, along with recent IMF Working Papers, Staff Discussion Notes, and IMF publications.
Sri Lanka
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-18
Sri Lanka written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-18 with Business & Economics categories.
EXECUTIVE SUMMARY The first chapter on monetary policy transmission examines the channels through which innovations to policy variables—policy rate or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy instruments is judged through the prism of conventional policy channels (money/interest rate, bank lending, exchange rate, asset price channels) in VAR models, and the timing and magnitude of these effects are assessed using impulse response functions, and through the pass-through coefficients from policy to money market and lending rates. Our results show that (i) interest rate channel (money view) has the strongest Granger effect on output with 0.6 percent decrease in output after the second quarter and a cumulative 0.5 percent decline within a 3 year period in response to innovations in the policy rate; (ii) the contribution from the bank lending channel is statistically significant (adding another 0.2 percentage points to the baseline effect of policy rates) in affecting both output and prices but with a lag of about 5 quarters for output and longer for prices; (iii) the exchange rate and asset price channels are ineffective and do not have Granger effects on either output or prices. The second chapter takes a fresh look at the public debt reduction strategy. It asks two questions: (i) what has been driving the increase and subsequent decline in Sri Lanka’s public debt? (ii) Is Sri Lanka’s public debt too high, and if yes, how much, how fast and how should it be reduced? The chapter finds that, until recently, favorable interest rate-growth differential reflecting the combination of relatively high real GDP growth and low real interest rates on public debt has worked to reduce the debt ratio, even as primary deficits and occasional currency depreciation pushed the ratio in the opposite direction. More recently, however, the average borrowing costs began to increase, reflecting the reduced role of concessional financing and increased resort to market borrowing. Thus, debt reduction became more dependent on real growth and stronger primary balance, and this trend is likely to continue. The chapter documents that Sri Lanka’s public debt is one of the highest among the emerging economies, particularly when measured against the relatively low revenues, and suggests that the authorities target its gradual reduction to 50 percent of GDP, relying mainly on revenue measures. This target is more ambitious than the authorities’ medium-term objective of reducing the debt ratio to 60 percent of GDP, but it is considered by staff as prudent.
China In The World Bank Imf And Wipo
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Author : James Frick
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2025-07-10
China In The World Bank Imf And Wipo written by James Frick and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-07-10 with Political Science categories.
Previously one of the least connected states in the world, China is taking on a considerable role as a leading global power. It has participated and benefited from international organizations (IOs) while also influencing their institutional behavior, but it has also demonstrated limited compliance at times. China's behavior has shifted from following the rules to a desire to make and set the rules. China in the World Bank, IMF, and WIPO: Understanding Trends in Global Governance Behavior explores 40 years of China's participation within these organizations, drawing on in-depth interviews and analysis of annual reports, meeting minutes, consultations, and transcripts obtained from archived records to argue how China views its behavior can achieve its desired interests. James Frick paints a detailed picture to illustrate that in the context of relative shifts in power, variation in China's IO behaviors is predicated by the extent to which IOs conform to China's national interests. This rational behavior approach (RBA) outlines four strategies: rule-taking, rule-breaking, rule-changing, and rulemaking. As China's relative power increases over time, so does its bargaining power, leading to a more assertive rule-changing behavior as it attempts to adapt the organization to allow its ascendancy as a rule-maker.
How Governments Borrow
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Author : Ben Cormier
language : en
Publisher: Oxford University Press
Release Date : 2024-02-29
How Governments Borrow written by Ben Cormier and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-29 with Business & Economics categories.
"Sovereign debt composition enhances or limits the capacity of an Emerging Market (EM) government to contribute to social and economic development. Many EMs depend on foreign currency debt. How much external debt an EM government owes, the cost of that debt, the maturity of that debt, and the conditions attached to that debt all determine the political and economic opportunities and risks associated with a government's borrowings. EMs borrow from different sources each year, leading them to build different sovereign debt structures over time. Some prioritize cheap yet conditional official credit, which constrains policy autonomy but enhances debt sustainability. Others prioritize comparatively expensive bond markets, which enhances policy autonomy but brings more expensive repayment obligations on to national balance sheets. As countries accumulate debt, the borrowing choices they make come to have important effects on fiscal space, debt sustainability, and development. How Governments Borrow shows how annual borrowing decisions are informed by domestic politics. The book traces the annual fiscal policymaking process in EMs to show how a government's partisan policy preferences are a primary determinant of annual external borrowing decisions and thus patterns of debt accumulation. That sovereign debt composition has partisan political roots provides insights for scholars in political science, international relations, economics, sociology, and public administration that work on sovereign debt."--Publisher.
Debt Relief Initiatives
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Author : Marco Arnone
language : en
Publisher: Routledge
Release Date : 2016-05-13
Debt Relief Initiatives written by Marco Arnone and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-13 with Business & Economics categories.
This book deals with the recent debt crises in developing countries and analyzes the design and implementation of the Heavily Indebted Poor Countries (HIPC) Initiative, by providing background concepts, pointing out the main drawbacks and suggesting a different approach to debt sustainability and debt relief programs. The authors merge academic, operational and institutional expertise, in order to provide an evaluation as complete and balanced as possible on the much-debated effectiveness of debt relief in fostering economic growth, reducing poverty and reaching debt sustainability. Marco Arnone and Andrea F. Presbitero assess the joint evolution of external and domestic public debt and produce original empirical evidence on the potential effects of public debt on investment, economic growth and institution-building in low- and middle-income countries. The book also explores relevant and up-to-date policy issues, such as the loans-grants mix and the development of responsible lending strategies in foreign assistance, the surge of non-concessional and domestic borrowing by low-income countries, and the impact of the 2008-2009 global financial crisis on debt sustainability.
Southern Led Development Finance
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Author : Diana Barrowclough
language : en
Publisher: Routledge
Release Date : 2020-09-29
Southern Led Development Finance written by Diana Barrowclough and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-29 with Business & Economics categories.
Southern-Led Development Finance examines some of the innovative new south-south financial arrangements and institutions that have emerged in recent years, as countries from the Global South seek to transform their economies and to shield themselves from global economic turbulence. Even before the Covid-19 crisis, it was clear to many that the global economy needed a reset and a massive increase in public investment. In the last decade southern-owned development banks, infrastructure funds, foreign exchange reserve funds and Sovereign Wealth Funds have doubled the amount of long-term finance available to developing countries. Now, as the world considers what a post-Covid-19 future will look like, it is clear that Southern-led institutions will do much of the heavy lifting. This book brings together insights from theory and practice, incorporating the voices of bankers, policymakers and practitioners alongside international academics. It covers the most significant new initiatives stemming from Asia, tried and tested examples in Latin America and in Africa, and the contribution of advanced economies. Whilst the book highlights the potential for Southern-led initiatives to change the global financial landscape profoundly, it also shows their varied impacts and concludes that more is needed for development than just the technical availability of funds. As governments and businesses become frustrated by the traditional North-dominated mechanisms and international financial system, this book argues that southern-led development finance will play an important role in the search for more inclusive, equitable and sustainable patterns of investment, trade and growth in the post-Covid landscape. It will be of interest to practitioners, policy makers, researchers and students working on development and finance everywhere.
National Workers Compensation Standards Act Of 1979
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Author : United States. Congress. Senate. Committee on Labor and Human Resources
language : en
Publisher:
Release Date : 1980
National Workers Compensation Standards Act Of 1979 written by United States. Congress. Senate. Committee on Labor and Human Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Workers' compensation categories.
Financial Liberalization And Investment
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Author : Kanhaya Gupta
language : en
Publisher: Routledge
Release Date : 1996-03-14
Financial Liberalization And Investment written by Kanhaya Gupta and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-03-14 with Business & Economics categories.
What happens to savings, investment, income and growth if governments allow interest rates to be determined by market forces? This is the first book to answer this by examining financial deregulation in a coherent and complete manner.