Guidelines for Public Debt Management -- Amended PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Guidelines for Public Debt Management -- Amended PDF full book. Access full book title Guidelines for Public Debt Management -- Amended by International Monetary Fund. Download full books in PDF and EPUB format.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149832892X
Category : Business & Economics
Languages : en
Pages : 39
Get Book Here
Book Description
NULL
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149832892X
Category : Business & Economics
Languages : en
Pages : 39
Get Book Here
Book Description
NULL
Author: OECD
Publisher: OECD Publishing
ISBN: 9264093052
Category :
Languages : en
Pages : 167
Get Book Here
Book Description
The 2011 edition of OECD's periodic survey of the French economy. This edition includes chapters covering the recovery, bringing down the public debt, making the housing market work better, and France's environmental policies.
Author: Ms.Carmen Reinhart
Publisher: International Monetary Fund
ISBN: 1498338380
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Author: Jaejoon Woo
Publisher: International Monetary Fund
ISBN: 145520157X
Category : Business & Economics
Languages : en
Pages : 49
Get Book Here
Book Description
This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Author: Mr.Barry J. Eichengreen
Publisher: International Monetary Fund
ISBN: 1484392892
Category : Business & Economics
Languages : en
Pages : 60
Get Book Here
Book Description
We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264167617
Category :
Languages : en
Pages : 218
Get Book Here
Book Description
The reform programme called "General Review of Public Policies" (Révision Générale des Politiques Publiques, RGPP), implemented at central government level in France in 2007, is a novel approach for OECD countries by its mode of governance, directly and continuously involving the highest state offic
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
Get Book Here
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Michael D. Bordo
Publisher: Cambridge University Press
ISBN: 0521030420
Category : Business & Economics
Languages : en
Pages : 413
Get Book Here
Book Description
This important contribution to comparative economic history examines different countries' experiences with different monetary regimes. The contributors lay particular emphasis on how the regimes fared when placed under stress such as wars and or other changes in the economic environment. Covering the experience of ten countries over the period 1700SH1990, the book employs the latest techniques of economic analysis in order to understand why particular monetary regimes and policies succeeded or failed.
Author: Michael Pettis
Publisher: Oxford University Press, USA
ISBN: 9780195143300
Category : Business & Economics
Languages : en
Pages : 272
Get Book Here
Book Description
This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.
Author: Carmen M. Reinhart
Publisher: Princeton University Press
ISBN: 0691152640
Category : Business & Economics
Languages : en
Pages : 513
Get Book Here
Book Description
An empirical investigation of financial crises during the last 800 years.
