Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by Routledge. This book was released on 2012-11-12 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the Global Financial Crisis required fiscal intervention on a substantial scale by governments around the world. The consequent build up of public debt, in particular its sustainability, have moved centre stage in the policy debate. If the Asia Pacific region is to continue to serve as an engine for global growth its public debt must be sustainable. The book addresses this issue for Asia Pacific as a whole as well as for three of the most dynamic economies in the region: China, India and Vietnam. The book begins with a discussion of the reasons why there is increased attention on debt related issues and outline the contents of the volume. The book also includes fiscal indicators for Developing Member Countries (DMCs) as categorized by the Asian Development Bank (ADB). Debt sustainability for these countries is assessed through extant approaches and with the most updated data sources. It also surveys the extant literature on debt sustainability, outlining the main issues related to debt sustainability and discusses the key implications for the application of debt sustainability analysis in developing Asia. The book highlights the importance of doing individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g. federal), and the like as well as in the impact of debt on interest rates. It provides in-depth debt sustainability analyses of China, India and Vietnam. The book is a comprehensive analytical and empirical update of the sustainability public debt in developing Asia. It breakes new ground in that various characteristics of the sustainability that have not yet been explored in the literature which, nevertheless, are crucial to understanding it. As a consequence, the policy analysis is based on firmer footings than in the extant literature and should prove useful to graduate students, researchers as well as policymakers.
Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by . This book was released on 2015 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Debt Sustainability Assessments for Developing Asia written by Benno Ferrarini and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal stimulus measures that many Asian countries took to counteract the 2008/9 global financial crisis helped the region lead the global recovery. Yet, with few exceptions, the increased spending and weakened revenues have caused government budget balances and debt ratios to deteriorate across the region. The research underpinning this book clearly illustrates the extent that the crisis response has altered fiscal positions in the region and the implications for the future path of public debts. The study also raises important questions about the techniques used to gauge debt sustainability, demonstrating how the use of stochastic forecasting techniques can enrich the analysis. The research contributes to the ongoing debate among policy makers, academicians, and other practitioners on how best to assess a country's debt dynamics.
Download or read book The Sustainability of Asia s Debt written by Ferrarini, Benno and published by Edward Elgar Publishing. This book was released on 2022-02-22 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a [CC BY 3.0 IGO] License. It is free to read, download and share on Elgaronline.com. Asia has shown the world what success in economic development looks like. From the amazing transformations of Japan, the Republic of Korea, and the other ‘tigers’ in the early 70s, to the more recent takeoffs of the People’s Republic of China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies were adopted, productivity raised, and export markets conquered. Billions were lifted out of poverty. What was once a backwater is now a global engine of growth.
Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by Routledge. This book was released on 2012 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.
Download or read book Quantifying the Sustainability of Public Debt written by Cansın Kemal Can and published by Cambridge Scholars Publishing. This book was released on 2021-06-09 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite its beneficial aspects, public debt can be hazardous for macroeconomic performance should it reach unrepayable levels as a consequence of snowballing explosive trends. Failure to monitor the existing trend in public debt in order to detect such divergences from the stable path, and the lack of an adaptive public financial management can potentially culminate in a public debt crisis whose disruptive economic impacts can permeate all sectors of the economy very swiftly. However, public debt sustainability is a vague concept with no straightforward operational definitions. In addition, its multi-faceted nature is an impediment for the implementation of real-world appraisal of the fiscal posture from a stability viewpoint. As such, quantifying the public debt sustainability is essential for overhauling the fiscal policies so as to avoid a potential debt crisis stemming from malfunctioning fiscal policies. This book provides the reader with a practical and straightforward framework that outlines a tool for undertaking public debt sustainability analysis. In order to guide further empirical investigations, the discussion in this book is underpinned by a real-world application of the model which highlights the practical aspects of the tool with reference to time-varying empirical evidence from a developing country.
Download or read book Economic and Social Survey of Asia and the Pacific 2023 written by United Nations Economic and Social Commission for Asia and the Pacific and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main value additions of the Survey 2023 is a proposal for an augmented Debt Sustainability Analysis (DSA) approach that duly incorporates SDG investment needs, potential socioeconomic and environmental gains, government's structural policies that go beyond financial considerations, and government's resource mobilization strategies and financial capacity. The Survey 2023 also provides new insights on how to prevent potential public debt crises and resolve public debt distress in order to effectively pursue the SDGs. For example, in prevention of public debt crisis, governments will need to explore unconventional policy measures such as leveraging the potential of non-tax policy measures and public assets. In resolving public debt distress governments might need to bring the rising number of commercial debt creditors into discussions with the existing institutional investors, while fundamental policy actions to enhance fiscal resources are still needed, governments will also need to explore unconventional policy measures, such as leveraging the potential of non-tax policy measures and public assets amid rising public indebtedness. In resolving public debt distress, while the emergence of commercial creditors brings new opportunities as many of them are increasingly mindful about the importance of sustainable development, their participation in the existing global debt architecture is virtually missing. At the same time, several unconventional, SDG-aligned debt relief modalities have recently been proposed. Amid these and other changes in the global and Asia-Pacific debt landscapes and rising public indebtedness in the region, it is time to rethink public debt issues in support of the SDGs.
Download or read book Supporting Quality Infrastructure in Developing Asia written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-07-01 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report explains how the quality of infrastructure investments in developing Asia can be enhanced and why this is vital for the region's sustainable recovery from the coronavirus disease (COVID-19) pandemic. It emphasizes the need to balance urgent demand for infrastructure financing with governance approaches that focus on boosting efficiency and integrating infrastructure systems. The report also explores how the Asian Development Bank can strengthen its support for quality infrastructure in the region through its financing instruments, programs, and projects.
Download or read book Empirical Assessment of Sustainability and Feasibility of Government Debt written by Duo Qin and published by . This book was released on 2005 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Debt Sustainability Analyses for Low Income Countries An Assessment of Projection Performance written by Mr.Henry Mooney and published by International Monetary Fund. This book was released on 2017-10-30 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops new error assessment methods to evaluate the performance of debt sustainability analyses (DSAs) for low-income countries (LICs) from 2005-2015. We find some evidence of a bias towards optimism for public and external debt projections, which was most appreciable for LICs with the highest incomes, prospects for market access, and at ‘moderate’ risk of debt distress. This was often driven by overly-ambitious fiscal and/or growth forecasts, and projected ‘residuals’. When we control for unanticipated shocks, we find that biases remain evident, driven in part by optimism regarding government fiscal reaction functions and expected growth dividends from investment.
Download or read book Public Debt Management written by Charan Singh and published by Springer. This book was released on 2016-11-02 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the objectives of public debt management and the re-emerging issue of separating monetary policy formulation from fiscal and debt management. The recent Great Recession has resulted in a rethink of the objectives and working of macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt-to-GDP ratios increasing significantly. Consequently, debt management has encountered considerable difficulties, and the need for coordination between monetary and debt management has assumed greater significance. The book discusses the important issue of the independence of central banks and the need for coordination between debt managers, monetary authorities and finance ministries if debt operations are separated from monetary management.
Download or read book Fiscal Sustainability in Developing Asia written by Charles F. Adams and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guidance Note on the Bank Fund Debt Sustainability Framework for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-02-14 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their Sustainable Development Goals (SDGs) while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA) approved the introduction of the Debt Sustainability Framework (DSF), a tool developed jointly by IMF and World Bank staff to conduct public and external debt sustainability analysis in low-income countries. The DSF has since been serving to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice. The latest review of the framework was approved by the Executive Boards in September 2017. This introduced reforms to ensure that the DSF remains appropriate for the rapidly changing financing landscape facing LICs and to further improve insights into debt vulnerabilities. This note provides operational and technical guidance on the implementation of the reformed framework.
Download or read book A Guide and Tool for Projecting Public Debt and Fiscal Adjustment Paths with Local and Foreign Currency Debt written by Mr. Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2021-05-28 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide presents the analytical underpinnings and a user manual for the Excel-based Public Debt Dynamics Tool (DDT).
Download or read book Cross Country Experience with Restructuring of Sovereign Debt and Restoring Debt Sustainability written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2006-08-29 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper is organized as follows: Section II provides a cross-country overview of the economic conditions, including the composition of sovereign debt and its dynamics prevailing prior to the debt operations, and a discussion of the scope and outcomes—in terms of the debt relief provided by creditors—of the debt restructurings. Section III analyzes the debt profile, liquidity position, DSAs and accompanying stress tests, and an EWS to assess whether debt sustainability has been restored in each country case. Conclusions are set out in Section IV.
Download or read book Sovereign Debt written by S. Ali Abbas and published by Oxford University Press. This book was released on 2019-10-21 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.
Download or read book Asian Development Outlook 2012 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2012-04-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite weak global demand, the Asian Development Outlook 2012 expects that developing Asia will largely maintain its growth momentum in the next couple of years, in an environment of easing inflation for most regional economies, although policy makers must be alert to further oil-price spikes arising from threats of oil supply disruptions. The report sees that the greatest risk to the outlook is the uncertainty surrounding the resolution of sovereign debt problems in the eurozone. Still, in the absence of any sudden shocks, developing Asia can manage the effects on its trade flows and financial markets.
