Download or read book The Repayment of the Romanian Foreign Debt in the 1980 s written by Horia V. Mocanu De Gavrilitza and published by . This book was released on 1990 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Romania s Foreign Debt Crisis in the 1980s written by George Georgescu and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on more recent research and evidence, including declassified information regarding the communist period in Romania, the study focuses on examining the 1980s foreign debt crisis context, its determinants and consequences, the impact of internal and external factors, intending to provide an image closer to reality of this dramatic episode. The global economy faced a severe economic and financial crisis at the beginning of the 1980s, when more than 30 developing countries entered default or restructuring on the sovereign debt. In the case of Romania, the impact of the foreign debt crisis triggered in 1981-1982 proved to be extremely hard, worsened by the overlap between the internal vulnerabilities accumulated in previous decades and the external shock coming from the major changes in the global economic, financial and geopolitical context at the end of 1979. The FED monetary policy at that time has led to the explosive rise in interest rates of the outstanding loans contracted from international commercial banks, to which Romania was highly indebted. The decision of simple-minded Ceausescu to liquidate the foreign debt and other serious errors concerning the crisis management had a destructive impact on the Romanian economy, which degenerated in a system crisis ended with its implosion in December 1989. Some consequences of the foreign debt crisis were felt also afterwards, slowing down significantly the pace of Romania’s transition to the market economy.

Download or read book The Romanian Economic Reform Program written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1991-06-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.

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 The Liquidation of Government Debt written by Ms.Carmen Reinhart and published by International Monetary Fund. This book was released on 2015-01-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book A World of Public Debts written by Nicolas Barreyre and published by Springer Nature. This book was released on 2020-10-26 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes public debt from a political, historical, and global perspective. It demonstrates that public debt has been a defining feature in the construction of modern states, a main driver in the history of capitalism, and a potent geopolitical force. From revolutionary crisis to empire and the rise and fall of a post-war world order, the problem of debt has never been the sole purview of closed economic circles. This book offers a key to understanding the centrality of public debt today by revealing that political problems of public debt have and will continue to need a political response. Today’s tendency to consider public debt as a source of fragility or economic inefficiency misses the fact that, since the eighteenth century, public debts and capital markets have on many occasions been used by states to enforce their sovereignty and build their institutions, especially in times of war. It is nonetheless striking to observe that certain solutions that were used in the past to smooth out public debt crises (inflation, default, cancellation, or capital controls) were left out of the political framing of the recent crisis, therefore revealing how the balance of power between bondholders, taxpayers, pensioners, and wage-earners has evolved over the past 40 years. Today, as the Covid-19 pandemic opens up a dramatic new crisis, reconnecting the history of capitalism and that of democracy seems one of the most urgent intellectual and political tasks of our time. This global political history of public debt is a contribution to this debate and will be of interest to financial, economic, and political historians and researchers. Chapters 13 and 19 are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

Download or read book Romania and The European Union written by Dimitris Papadimitriou and published by Routledge. This book was released on 2008-03-26 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a new overview of Romania's relationship with the European Union since the collapse of the Ceausescu regime in 1989, and recent accession to EU membership. It presents the reader with a clear sense of the debate, with full coverage of all the key issues involved.

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 Central and South Eastern Europe 2003 written by Europa Publications and published by Psychology Press. This book was released on 2002 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth survey of the region presenting the latest economic and political developments. It includes expert comment on issues of regional importance, up-to-date statistics, a directory of institutes and companies and political profiles.

Download or read book Western Europe in Transition written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-08-15 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of the opening up of Eastern Europe and the Former Soviet Union on Western Europe. The analysis suggests that given reasonable (yet necessarily imprecise) assumptions on the likely developments in the previously centrally planned economies (PCPEs) over the next ten years, West European capital markets are likely to experience only a mild squeeze from their concerted efforts to provide external financing to the East. Most macroeconomic aggregates are likely to suffer shocks significantly smaller than would be expected from a typical business cycle.

Download or read book The Germans And Their Neighbors written by Dirk Verheyen and published by Routledge. This book was released on 2019-07-09 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: For Germany's neighbors, perhaps more acutely than for observers elsewhere, the 1990 reunification of divided Germany has raised old memories and new concerns in public and scholarly discourse. The shape and influence of these issues are the subject of this unique, ambitious book. Organized into country-specific chapters, the book offers original, expert analyses of Germany's relations with seventeen European neighbors as well as with the United States. The contributors explore the essential concerns these nations have faced in their bilateral relations with Germany—past, present, and future. In their introduction, the editors trace both commonality and diversity in various national conceptions of the "German Question" and the ways in which these perceptions in turn generate shared as well as divergent national policy agendas vis-a-vis united Germany.

Download or read book East European Economies written by and published by . This book was released on 1986 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Guide to the Socialist Economies written by Ian Jeffries and published by Taylor & Francis. This book was released on 2022-03-07 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1990, A Guide to the Socialist Economies explores the evolution of a variety of economic systems in the socialist world and highlights major problems facing fourteen countries – Albania, Bulgaria, China, Cuba, Czechoslovakia, the GDR, Hungary, North Korea, Mongolia, Poland, Romania, the Soviet Union, Vietnam and Yugoslavia –against a background of continuous change, characterized by such events as the Berlin blockade, the Korean war, the Hungarian revolution and the invasion of Czechoslovakia. The traditional Soviet economic model is studied in detail as the basic system adopted by or imposed upon all of these countries. A separate chapter is devoted to foreign trade in general and Comecon in particular, while each of the country studies deals with the political and economic background, economic reforms (including industry, agriculture, the financial system and foreign trade and capital) and the private sector. The book provides information on the economic institutions of all the individual countries which is invaluable if the various courses of reform each country has engaged upon are to be understood. Historical material supplements contemporary information in a work which is to be an essential reference for anyone engaged in a study of, or trade with, the socialist countries.

Download or read book On Heat in Its Relations to Water and Steam written by Charles Wye Williams and published by . This book was released on 1860 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Global Perspectives on Trade Integration and Economies in Transition written by Erokhin, Vasily and published by IGI Global. This book was released on 2016-06-16 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the era of globalization, foreign trade has an immense impact upon modern economies. To succeed in the global marketplace, sustainable development in trade practices is an imperative goal for countries to reach. Global Perspectives on Trade Integration and Economies in Transition is an authoritative reference source for the latest research on the dynamics of transitional economies and how certain obstacles can disrupt the effectiveness of the transition process. Highlighting the value of trade incorporation at the national and international levels, this book is ideally designed for researchers, professionals, government officials, policy makers, and upper-level students interested in the intersection of globalization, trade, and international economics.

Download or read book Capital Flows in Central and Eastern Europe written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 1995-06-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the nature and composition of capital flows in selected countries in Central and Eastern Europe during 1987–93. The data show that there was a remarkable turnaround in the capital account in 1992–93. This improvement was accompanied by widening current account deficits, an increase in real consumption, and real exchange rate appreciation. In light of these developments, the paper discusses the main macroeconomic concerns raised by capital inflows and lays out the principal policy options relevant for the transition economies.

Download or read book Quarterly Report to the Congress and the Trade Policy Committee on Trade Between the United States and the Nonmarket Economy Countries During written by United States International Trade Commission and published by . This book was released on 1987 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: