Analytical Issues In Debt
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Analytical Issues In Debt
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Author : Mr.Peter Wickham
language : en
Publisher: International Monetary Fund
Release Date : 1989-03-15
Analytical Issues In Debt written by Mr.Peter Wickham 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 1989-03-15 with Business & Economics categories.
This book, edited by Jacob A. Frenkel, Michael P. Dooley, and Peter Wickham, presents a sample of the work of the IMF and that of world-renowned scholars on the analytical issues surrounding the explosion of countries with debt-servicing difficulties and describes debt initiatives and debt-reduction techniques that hold the best promise for finding a lasting solution to the problems of debtor countries.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : Ravi Kanbur
language : en
Publisher:
Release Date : 2016
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by Ravi Kanbur and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : Stijn Claessens
language : en
Publisher: World Bank Publications
Release Date : 1996
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by Stijn Claessens and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Debt relief categories.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : S. M. Ravi Kanbur
language : en
Publisher: World Bank Publications
Release Date : 1999
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by S. M. Ravi Kanbur and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
June 1996 A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Simple Analytics
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-03-29
Simple Analytics 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 1988-03-29 with Business & Economics categories.
This paper is concerned with debt-equity swaps in which foreign residents are a party to the exchange (i.e., it does not deal with flight capital), and with debt forgiveness. The seemingly unrelated issues of debt-equity swaps and debt forgiveness are jointly treated in this study, because debt forgiveness is in fact a special case of debt-equity swaps. Namely, it is a swap in which a positive amount of debt is exchanged for zero equity. For this reason these two problems have many common features.
The Strategy Of Debt Buybacks
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-02-22
The Strategy Of Debt Buybacks 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 1988-02-22 with Business & Economics categories.
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Financial Innovations In International Debt Management
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Author : Walter Berger
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Financial Innovations In International Debt Management written by Walter Berger and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The international debt problem has already generated a huge number of publications. Why then another publication? Many publications address macroeconomic implications of the debt problem, others investigate special new financing instruments such as debt equity swaps, others discuss the economic or legal aspects of debt reschedulings. This work of Walter Berger concentrates on the evolution of the financial side of the debt problem. This evolution is fascinating since it reveals a continuous expansion of the financial instruments being used and a surprising change in intercreditor relationships. While in the seventies equal treatment of creditors was not of much concern, this changed dramatically in the eighties. But lately equal treatment turned out to be a strong impediment to the creditors' management of loan portfolios. Hence, inequality of treatment is growing again. This development represents a challenge to everyone who tries to explain legal changes by using economic theory. Another characteristic of Walter Berger's work is that he starts from a broad institutional perspective. Most economists analyze the debt problem by assuming a world where everybody follows the same principles of rationality and optimization. Walter Berger questions this approach by arguing that cultural discrepancies among creditor countries and indebted countries make it difficult to define efficiency by "Western" standards only. Moreover, different cultures create what Berger calls "institutional obfuscation", that is, creditors have substantial difficulties to predict the behavior of differently minded debtors, and vice versa. This lack of information creates a transaction risk for each contracting party.
Debt Servicing And Foreign Assistance
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Author : Charles Raphael Frank
language : en
Publisher:
Release Date : 1969
Debt Servicing And Foreign Assistance written by Charles Raphael Frank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Debts, External categories.
Bankruptcy Distressed Restructurings
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Author : Edward I. Altman
language : en
Publisher: Beard Books
Release Date : 1999
Bankruptcy Distressed Restructurings written by Edward I. Altman and has been published by Beard Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Papers from a conference held March 1991 under the joint sponsorship of the New York University Salomon Center and a number of interested corporate contributors
Stabilization Debt And Reform
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Author : Rudiger Dornbusch
language : en
Publisher:
Release Date : 1993
Stabilization Debt And Reform written by Rudiger Dornbusch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.