Factors Determining External Debt
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Factors Determining External Debt
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Author : Gerhard Rübel
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Factors Determining External Debt written by Gerhard Rübel 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.
Against the background of the international debt problem which originated with the oil shocks of the seventies, this book undertakes a theoretical analysis of the factors determining aggregate external debt, using the example of a raw material importing country. Instead of the usual static definition of the trade balance as the difference between the value of exports and imports in a single period, here an intertemporal approach is used with a country's current account balance determined as the difference between aggregate saving and aggregate net investment, variables which are primarily dependent on expectations about the future. The analysis is based on microeconomic optimization models which enables individual causal relationships to be presented in a detailed way, the "optimal" size of external debt to be determined and the desirability of an immediate adjustment in the level of debt following an external disturbance to be shown from a welfare point of view.
Factors Affecting The External Debt Servicing Capacity Of African Nations
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Author : Christopher Ngassam
language : en
Publisher:
Release Date : 1992
Factors Affecting The External Debt Servicing Capacity Of African Nations written by Christopher Ngassam and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Africa, Sub-Saharan categories.
External Conditions And Debt Sustainability In Latin America
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Author : Gustavo Adler
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
External Conditions And Debt Sustainability In Latin America written by Gustavo Adler 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 2013-01-30 with Business & Economics categories.
Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external environment? This paper addresses this question by developing a simple framework that integrates econometric estimates of the effect of global factors on key domestic variables that determine public and external debt dynamics, with the IMF‘s standard debt sustainability framework. Results suggest that, while some countries in the region are well placed to withstand moderate or even large shocks, many would benefit from having stronger buffers to be in a position to deploy countercyclical policies, especially under tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
External Debt Statistics
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-06-25
External Debt Statistics 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 2003-06-25 with Business & Economics categories.
This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.
Theoretical And Policy Oriented Aspects Of The External Debt Economics
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Author : Chris Czerkawski
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Theoretical And Policy Oriented Aspects Of The External Debt Economics written by Chris Czerkawski 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 past approach to the international debt crisis has been traditionally based on conventional banking principle in which debt had to be paid back in fuH and in time. International lending was a function of the perceived credit standing of debtor country and the return on investment (ROI). If debtor country run into difficulties and had problems with service payments - it was generally assumed that the debt-related expenditures were mismanaged. With economic stability and firm financial rules - the debt crisis was supposed to disappear after application of appropriate adjustment measures. However in the world of inconsistent lending criteria greater uncertainty and increased volatility of expectations - the problem has continued to get worse. At the beginning of the 1990s a number of countries are more indebted than at any other time in the past. Until mid 1980s extern al debt economics has been rather a disembodied concept for most economists and business leaders. The main reason for this neglect of one of the most important macroeconomic categories was difficulty of distinguishing terminologically and methodologically the domestic determinants of national expenditures from the external ones. Then there were conceptual problems in distinguishing the functional determinants of macroeconomic liquidity from external and domestic determinants of macro-economic solvency. Moreover many studies of the debt crisis were one-sided. Usually debt was seen as a 'white-black' phenomenon with debtor countries accusing creditor countries for causing the crisis and vice versa.
The Measurement Of The Utilisation Efficiency Of External Debt Funds And Its Influencing Factors
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Author : Yun Yang
language : en
Publisher:
Release Date : 2015
The Measurement Of The Utilisation Efficiency Of External Debt Funds And Its Influencing Factors written by Yun Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This paper uses stochastic frontier analysis to measure the utilisation efficiency of external debt funds, and identifies what factors actually influence the utilisation efficiency of external debt funds. Measurements show that in both developing and developed countries, the utilisation efficiency of external debt funds shows a downward trend; this downward trend is more obvious in developed countries. Empirical analysis found that the trade deficit rate, the trade openness, the ratio of fiscal revenue to gross domestic product (GDP), and the inflation rate have a significant negative effect on the utilisation efficiency of external debt funds. The ratio of money and quasi money (M2) to GDP, the ratio of the population aged 15-65 to total population, the ratio of industry value-added to GDP, and the investment growth rate have a significant positive effect on the utilisation efficiency of external debt funds. Furthermore, under the condition of high ratio of the population aged 15-65 to total population, an increase in the ratio of the population aged 15-65 to total population will have a larger effect on improving the utilisation efficiency of external debt funds. Under the condition of high trade deficit rate, an increase in trade deficit rate will have a bigger effect on decreasing the utilisation efficiency of external debt funds.
External Debt Sustainability In Hipc Completion Point Countries
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Author : Jie Yang
language : en
Publisher: International Monetary Fund
Release Date : 2009-06-01
External Debt Sustainability In Hipc Completion Point Countries written by Jie Yang 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 2009-06-01 with Business & Economics categories.
Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC completion point countries (i) the export base broadly remains narrow; (ii) fiscal revenue mobilization lags behind in some countries; and (iii) policy and institutional frameworks are still relatively weak. Achieving and maintaining longterm debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new non-concessional borrowing.
Sovereign Debt Crises
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Author : Juan Pablo Bohoslavsky
language : en
Publisher: Cambridge University Press
Release Date : 2017-11-02
Sovereign Debt Crises written by Juan Pablo Bohoslavsky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-02 with Business & Economics categories.
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.
External Debt Sustainability In Hipc Completion Point Countries
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Author : Mr.Yan Sun
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2004-09-01
External Debt Sustainability In Hipc Completion Point Countries written by Mr.Yan Sun 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 2004-09-01 with Business & Economics categories.
This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other lowincome countries, the policy and institutional frameworks of completion point countries in general are still relatively weak, and their debt management practices remain inferior to international standards; and (ii) their export base remains narrow and fiscal revenue mobilization lags behind, even compared with many other low-income countries. Achieving and maintaining long-term debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new borrowing in support of sound macroeconomic policies.
Trade Dependency Bargaining And External Debt
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-10-17
Trade Dependency Bargaining And External Debt 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 1988-10-17 with Business & Economics categories.
This paper analyzes the factors determining the payment on outstanding debt in the presence of partial defaults, and the feasibility of renewed investment. We show that a higher relative size of sectors with lower substitutability between domestic and foreign products will increase the resource transfer ceiling. Even with a partial default, investment in highly trade dependent sectors with high productivity may be warranted. This investment can be implemented by a marginal relief of the present debt service, in exchange for investment in the proper sector. A way to partially overcome some of the monitoring problems associated with renewed investment is through direct investment.