A World of Public Debts

A World of Public Debts

This book analyzes public debt from a political, historical, and global perspective.

Author: Nicolas Barreyre

Publisher: Springer Nature

ISBN: 9783030487942

Category: Business & Economics

Page: 564

View: 638

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.
Categories: Business & Economics

Chipping Away at Public Debt

Chipping Away at Public Debt

In this context, this book will prove invaluable." —The Right Honorable Paul Martin, former Finance Minister (1993–2002) and Prime Minister (2003–2006) of Canada "Budget consolidation may well be the defining macroeconomic issue for ...

Author: Paolo Mauro

Publisher: John Wiley & Sons

ISBN: 1118113063

Category: Business & Economics

Page: 304

View: 451

Path-breaking research on one of the most importantmacroeconomic policy challenges in the post-crisis world, presentedin accessible language Written and researched by a team of experts from theInternational Monetary Fund, other policy-making institutions, andacademia, this timely book looks at fiscal adjustment plans inadvanced economies, comparing the planned or projected reductionsin debts and deficits to the actual outcomes, and explaining whyobjectives were met in some cases but missed in others. An overviewreveals pitfalls to avoid and lessons learned for securingsuccessful fiscal adjustment. Written by experts in the field Addresses public concern about skyrocketing governmentdebts Contains cutting edge research that changes the way we look atfiscal adjustment Presents meticulous archival research in compelling andengaging case studies Explores lessons learned and policy implications goingforward Includes country coverage of all G7 and European Unioneconomies Educating and informing investors, economists, and the generalpublic, this important book looks at why some attempts to curbdebts and deficits succeed whereas others fail, as well as how toensure successful fiscal adjustment in the period ahead.
Categories: Business & Economics

Public Debt Management

Public Debt Management

This volume from the Centre for Economic Policy Research brings together research on the management of public debt and its implications for financial stability.

Author: Mario Dornbusch

Publisher: Cambridge University Press

ISBN: 0521392667

Category: Business & Economics

Page: 354

View: 542

This volume from the Centre for Economic Policy Research brings together research on the management of public debt and its implications for financial stability.
Categories: Business & Economics

Quantifying the Sustainability of Public Debt

Quantifying the Sustainability of Public Debt

This book provides the reader with a practical and straightforward framework that outlines a tool for undertaking public debt sustainability analysis.

Author: Cansın Kemal Can

Publisher: Cambridge Scholars Publishing

ISBN: 9781527570788

Category: Business & Economics

Page: 156

View: 716

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.
Categories: Business & Economics

World Debt Tables

World Debt Tables

Author: World Bank

Publisher:

ISBN: LCCN:78300623

Category: Debts, External

Page:

View: 373

Categories: Debts, External

World Debt Tables

World Debt Tables

Author: World Bank

Publisher:

ISBN: OCLC:2674851

Category: Developing countries

Page:

View: 737

Categories: Developing countries

Public Debt Sustainability in Developing Asia

Public Debt Sustainability in Developing Asia

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.

Author: Benno Ferrarini

Publisher: Routledge

ISBN: 9781136199905

Category: Business & Economics

Page: 280

View: 945

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.
Categories: Business & Economics

Sovereign Debt

Sovereign Debt

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.

Author: S. Ali Abbas

Publisher: Oxford University Press, USA

ISBN: 9780198850823

Category: Business & Economics

Page: 464

View: 363

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.
Categories: Business & Economics

A Cross country Analysis of Public Debt Management Strategies

A Cross country Analysis of Public Debt Management Strategies

This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank.

Author: Martin Melecky

Publisher: World Bank Publications

ISBN:

Category: Debt relief

Page: 36

View: 921

This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.
Categories: Debt relief

Revised Guidelines for Public Debt Management

Revised Guidelines for Public Debt Management

The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that ...

Author: International Monetary Fund,

Publisher: International Monetary Fund

ISBN: 9781498393553

Category: Business & Economics

Page: 39

View: 208

The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries external vulnerabilities.
Categories: Business & Economics

Public Debt Inequality and Power

Public Debt  Inequality  and Power

This is an illuminating work that deserves wide attention."—Gillian Tett, Financial Times "The relationship between the ownership structure of government debt and economic inequality—between public finance and the class structure of ...

Author: Sandy Brian Hager

Publisher: Univ of California Press

ISBN: 9780520284661

Category: History

Page: 157

View: 254

Introduction : public debt, inequality and power -- The spectacle of a highly centralized public debt -- The bondholding class resurgent -- Fiscal conflict : past and present -- Bonding domestic and foreign owners -- Who rules the debt state? -- Conclusion : informing democratic debate -- Appendix : accounting for the public debt
Categories: History

Helping Developing Countries Address Public Debt Management Challenges An IMF World Bank Capacity Building Partnership

Helping Developing Countries Address Public Debt Management Challenges   An IMF World Bank Capacity Building Partnership

In 2009, the Boards of the IMF and World Bank jointly endorsed a capacity building program to help developing countries strengthen their public debt management frameworks.

Author: World Bank

Publisher: International Monetary Fund

ISBN: 9781498342155

Category: Business & Economics

Page: 28

View: 586

In 2009, the Boards of the IMF and World Bank jointly endorsed a capacity building program to help developing countries strengthen their public debt management frameworks. A key aspect of the program was to help developing countries implement the framework developed by staffs to formulate an effective medium-term debt management strategy (MTDS). The Boards also supported the continued use of the complementary framework—the Debt Management Performance Assessment (DeMPA)—developed in 2007, to assess the effectiveness of the broader institutional arrangements for public debt management. This paper provides an update on the implementation of the program since its endorsement in 2009.
Categories: Business & Economics

Revised Guidelines for Public Debt Management

Revised Guidelines for Public Debt Management

Accordingly, the Guidelines were reviewed and revised to reflect the evolving public debt management challenges over the last decade

Author: International Monetary Fund

Publisher: International Monetary Fund

ISBN: 9781498343602

Category: Business & Economics

Page: 43

View: 280

The Guidelines for Public Debt Management (Guidelines) have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries’ external vulnerabilities. In developing the Guidelines, IMF and World Bank staffs worked in close collaboration with debt management entities from a broad group of IMF-World Bank member countries and international institutions in a comprehensive outreach process. The debt managers’ insights, which this process brought to the Guidelines, have enabled the enunciation of broadly applicable principles, as well as institutional and operational foundations, that have relevance for members with a wide range of institutional structures and at different stages of development. The revision of the Guidelines was requested by the G-20 Finance Ministers and Central Bank Governors, at their meeting in Moscow, on February 15–16, 2013. Since their adoption in 2001, and amendments in 2003, financial sector regulatory changes and macroeconomic policy developments, especially in response to the recent financial crisis, have significantly affected the general financial landscape. As a consequence, many countries have experienced significant shifts in their debt portfolios, in terms of both size and composition. Accordingly, the Guidelines were reviewed and revised to reflect the evolving public debt management challenges over the last decade
Categories: Business & Economics

Public Debts An Essay in the Science of Finance Classic Reprint

Public Debts  An Essay in the Science of Finance  Classic Reprint

About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work.

Author: Henry Carter Adams

Publisher: Forgotten Books

ISBN: 0656541172

Category: Business & Economics

Page: 426

View: 165

Excerpt from Public Debts: An Essay in the Science of Finance Tm: civilised governments of the present day are resting under a burden of indebtedness computed at This sum, which does not include local obligations of any sort, constitutes a mortgage of $798 upon each square mile of territory over which the burdened governments extend their jurisdiction, and shows a per capita indebtedness of $23 upon their subjects. The total amount of national obli gations is equal to seven times the aggregate annual revenue of the indebted states. At the liberal estimate of per day, the payment of accruing interest, cornputed at 5 per ant, would demand the continuous labor of three millions of men. Should the people of the United States contract to pay the principal of the world's debt, their engagement would call for the appropriation of a sum equal to the total gross product of their industry for three years; or, if annual profits alone were devoted to this purpose, they would be enslaved by their contract for the greater part of a genera tion. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Categories: Business & Economics

A Cross country Analysis of Public Debt Management Strategies

A Cross country Analysis of Public Debt Management Strategies

This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank.

Author: Martin Melecky

Publisher:

ISBN: UCSD:31822034578971

Category: Debt Management Department

Page: 36

View: 267

This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.
Categories: Debt Management Department

World Public Debt and Real Interest Rates

World Public Debt and Real Interest Rates

We have in mind a transmission mechanism through which additional public debt in any one country effectively increases world public debt , which results in ...

Author: Mr.Robert Ford

Publisher: International Monetary Fund

ISBN: 9781451844887

Category: Business & Economics

Page: 34

View: 452

Real interest rates appear to have risen in virtually all industrialized countries relative to levels that prevailed in the 1960s and 1970s. There is increasing concern that this may reflect higher public debt, which is crowding out private sector activity. Over the last two decades, there has also been increasing international capital market integration. This suggests that interest rates in any country may be sensitive to global fiscal developments. This paper estimates the effects of aggregate fiscal developments in the industrialized world on real interest rates in nine industrial countries. The results imply that the increase in OECD-wide government debt since the late 1970s was a major factor explaining the rise in real interest rates.
Categories: Business & Economics

Sustainability and Optimality of Public Debt

Sustainability and Optimality of Public Debt

And in Germany, public debt tends to explo de, doubling within a few years. The reason for this is the immense cost of Ger man unification. I had many helpful talks with my colleague Michael Schmid (now at Bam berg).

Author: Michael Carlberg

Publisher: Physica

ISBN: STANFORD:36105016307600

Category: Business & Economics

Page: 217

View: 933

Public debt seems to be one of the great issues of the nineties. The United States have turned from the largest creditor of the world to the largest debtor, due to dramatic budget deficits. The European Union tries to build dams against the flood, see the treaty of Maastricht. And in Germany, public debt tends to explo de, doubling within a few years. The reason for this is the immense cost of Ger man unification. I had many helpful talks with my colleague Michael Schmid (now at Bam berg). In addition, Michael Brauninger and Philipp Lichtenauer carefully discus sed with me all parts of the manuscript. Last but not least, Doris Ehrich typed the manuscript as excellently as ever. I would like to thank all of them. Contents INTRODUCTION 3 5 BRIEF SURVEY OF THE LITERATURE PART I. CLOSED ECONOMY 9 CHAPTER I. SOLOW MODEL 11 1. Fixed Deficit Ratio 11 1. 1. Simple Model 11 1. 2. Short-Run Equilibrium 12 1. 3. Long-Run Equilibrium 14 1. 4. Optimal Deficit Ratio 18 1. 5. Optimal Saving Ratio 20 1. 6. Stability 21 1. 7. Shocks 23 1. 8. Budget Surplus 29 1. 9. Numerical Example 32 1. 10. Summary 37 2. Fixed Tax Rate 38 2. 1. Simple Model 38 2. 2. Short-Run Equilibrium 39 2. 3. Long-Run Equilibrium 40 2. 4. Stability 45 2. 5. Shocks 48 2. 6. Optimal Tax Rate 56 2. 7. Optimal Saving Ratio 57 2. 8. Numerical Example 58 2. 9.
Categories: Business & Economics

The Scourge of Europe Routledge Revivals

The Scourge of Europe  Routledge Revivals

This book will appeal to economic and financial historians, as well as to those generally interested in European policies towards debt from the Middle Ages to modern times.

Author: L. V. Birck

Publisher: Routledge

ISBN: 9781317807223

Category: Business & Economics

Page: 304

View: 132

Written during the early 1920s, at a time when Europe was still recovering from the catastrophe of the First World War, L.V. Birck’s The Scourge of Europe examines the economic issues surrounding the existence of public debt, its history, and possible approaches to problems associated with public debt as they were being pursued by the great powers of the time. Birck’s analysis contains a rigorous theoretical exposition and explanation of public debt as it was understood in the crucial period leading up to the Great Depression. This is then followed by an insightful exploration of the role of public debt in European financial and economic history. Finally, some reflections on the policies of England, the United States, France and Germany in the latter part of the nineteenth and early-twentieth centuries are included. This book will appeal to economic and financial historians, as well as to those generally interested in European policies towards debt from the Middle Ages to modern times.
Categories: Business & Economics

The World Almanac and Book of Facts

The World Almanac and Book of Facts

1,280.960.593 1.132.626,818 Interest on the public debt . 10,673,203,408 9.895,
303,948 Atomic Energy Commission .. 2,764,926,471 2,757.875,683 Federal
Aviation Agency ... 750,572,119 726,310.614 General Services Administration .

Author:

Publisher:

ISBN: UOM:39015043548471

Category: Almanacs

Page:

View: 584

Lists news events, population figures, and miscellaneous data of an historic, economic, scientific and social nature.
Categories: Almanacs