Download or read book Measuring the Risk of default in six highly indebted countries written by Marc Chesney and published by World Bank Publications. This book was released on 1992 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The risk that the debtor country will default on its external debt may be significantly decreased by a debt-reduction operation, by a reduction in international interest rates, and by changes in the country's willingness to pay.

Download or read book An Econometric Analysis of Countries Repayment Performance to the International Monetary Fund written by Mrs.Lynn Aylward and published by International Monetary Fund. This book was released on 1998-03-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the literature on external debt repayment performance by sovereign debtors is extensive, repayment performance vis-à-vis the International Monetary Fund has not been dealt with separately. Given differences between the Fund and other providers of financial resources, this paper considers whether it is possible to distinguish through logit analysis between the countries that make timely repayments to the Fund and those that become overdue. The paper finds that the inclusion of Fund-specific financial variables and a small number of macroeconomic variables yields a highly significant econometric model of the probability of a country incurring Fund arrears.

Download or read book A Primer on Managing Sovereign Debt Portfolio Risks written by Thordur Jonasson and published by International Monetary Fund. This book was released on 2018-04-06 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.

Download or read book Sovereign Debt Restructurings 1950 2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Economic Incentives and Point Source Emissions written by and published by World Bank Publications. This book was released on 2016 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Volatility Machine written by Michael Pettis and published by Oxford University Press, USA. This book was released on 2001 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Creditor Country Regulations and Commercial Bank Lending to Developing Countries written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1992 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Listening to Firms written by Andrew H. W. Stone and published by World Bank Publications. This book was released on 1992 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firm-level surveys reveal information central to formulating policy advice and projects to promote private sector development, often challenging conventional wisdom. This common sense guide suggests how to do surveys well.

Download or read book developing country capital structures and emerging stock markets written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are debt and equity finance complements or substitutes? Probably complements, which means that the existence of active stock markets should increase the volume of business for financial intermediaries.

Download or read book Pesticide Externalities Comparative Advantage and Commodity Trade written by Nalin M. Kishor and published by World Bank Publications. This book was released on 1992 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Implementing integrated pest management in coastal Andhra Pradesh, India, would reduce not only the external costs but also the private costs of cotton cultivation.

Download or read book Fiscal and Quasi fiscal Deficits Nominal and Real written by Roberto Rezende Rocha and published by World Bank Publications. This book was released on 1992 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Policy Research Working Papers written by and published by . This book was released on 1991 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Interest Rates Official Lending and the Debt Crisis written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1992 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies of economic performance among the highly indebted countries during the debt crisis should control for cross-country differences in the burden of interest payments. Some countries had better access to highly subsidized interest rates.

Download or read book Options for Reshaping the Railway written by Neil E. Moyer and published by World Bank Publications. This book was released on 1992 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing transport demands and growing competition from trucks, autos, and air transport are forcing the monolithic railway to change. Options for change must be adapted to different national and other circumstances, with a suitable tradeoff between efficiency of production and effectiveness in meeting market needs.

Download or read book How Much to Commit to an Exchange Rate Rule written by Alex Cukierman and published by World Bank Publications. This book was released on 1992 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cost of reneging is a key reason policymakers hold back from strong commitments in their exchange rate policy. The stronger the commitment to an exchange rate rule, the more costly it is to deviate from it.

Download or read book Participatory Development written by Robert Picciotto and published by World Bank Publications. This book was released on 1992 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Participatory development has potential as a unifying frame-work for the development inquiry. But more examples of success are needed to beef up the theory, and more theory is needed to illuminate an elusive development reality.