Public Debt Management and Sovereign Risk during the Worst Financial Crisis on Record: Experiences and Lessons from the OECD Area

2010 ◽  
pp. 449-465
Author(s):  
Hans J. Blommestein
Keyword(s):  
Financial Crisis ◽  
Public Debt ◽  
Debt Management ◽  
Sovereign Risk ◽  
Public Debt Management

PUBLIC DEBT MANAGEMENT AND FOREIGN CURRENCY DENOMINATED BONDS

2007 ◽  
Vol 10 (05) ◽  
pp. 763-770
Author(s):  
SILVIA CECCACCI ◽  
ALESSANDRO MARCHESIANI ◽  
LORENZO PECCHI
Keyword(s):  
Stochastic Model ◽  
Public Debt ◽  
Foreign Currency ◽  
Debt Management ◽  
Bond Type ◽  
Total Debt ◽  
Public Debt Management ◽  
Percentage Share ◽  
Increasing Function

Foreign-currency denominated securities are introduced in a stochastic model à la Missale [13]. It is shown that the percentage share of this bond type, as compared to total debt, is an increasing function of the covariance between the output and the rate of depreciation, but it may or may not be a decreasing function of the volatility of the rate of depreciation.

MAIN PROBLEMS OF PUBLIC DEBT MANAGEMENT OF THE RUSSIAN FEDERATION

2021 ◽  
Vol 2 (5) ◽  
pp. 27-31
Author(s):  
I. V. SUGAROVA ◽  
◽  
N. V. TADTAEVA ◽  
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Public Debt ◽  
World Economy ◽  
Debt Management ◽  
Financial Resources ◽  
Modern World ◽  
The Russian Federation ◽  
Public Debt Management

In the modern world economy, most countries lack the financial resources to fully perform their duties and functions to their citizens. The consequence of the increase in borrowing by countries is the growth of public debt. Its management is becoming one of the most acute problems in the current conditions. The article presents the main aspects of this problem, and suggests measures to stimulate the country's economic growth.

scholarly journals Public Debt Management In Emerging Market Economies : Has This Time Been Different ?

2010 ◽  
Author(s):  
Antonio Velandia-Rubiano ◽  
Anderson Caputo Silva ◽  
Phillip R. D. Anderson
Keyword(s):  
Public Debt ◽  
Emerging Market ◽  
Debt Management ◽  
Emerging Market Economies ◽  
Market Economies ◽  
Public Debt Management

scholarly journals The Public Debt of Ukraine and the Budget Expenditure for Its Service

2018 ◽  
Vol 80 (1) ◽  
pp. 30-39 ◽  
Author(s):  
T. H. Bondaruk ◽  
O. S. Bondaruk ◽  
N. Yu. Melnychuk
Keyword(s):  
Public Debt ◽  
Debt Management ◽  
Public Budget ◽  
Sharp Drop ◽  
The Public ◽  
Debt Burden ◽  
Debt Dynamics ◽  
External Sources ◽  
Public Debt Management ◽  
Made In

the public debt is deepened, the visions of the public debt as a phenomenon burdening the national economy, found in various schools of economics, are reviewed. It is demonstrated that the high internal and external dept in parallel with the respectively growing expenditure for its service is a pressing problem for Ukraine, calling for an urgent solution. This raises the need for seeking ways to improve the public debt management mechanisms. The article’s objective is to deepen the theoretical and methodological framework for assessment of the public debt in Ukraine and the budget expenditures for its service. It is demonstrated that the public debt in Ukraine results from the public budget deficit, high sovereign borrowing from internal and external sources. The econometric assessment of the time series on budget expenditures for debt service and repayment in Ukraine is given. The analysis of the public debt dynamics in Ukraine shows that not only the increasing volume of public debt and State-guarantee debt, but also the increasing budget expenditures on its service and repayment are dangerous. The high deficit of public budget is persisting, which growth is caused, inter alia, by the payment commitments. The expenditures on service and repayment of public debt constitute a large share in the public budget expenditures. Forecasting calculations made in the article demonstrate the upward tendency in the public budget expenditures on repayment and service of the public debt of Ukraine, thus signaling the growing threats to the budget security of Ukraine. The main factors for the rapidly increased debt burden in Ukraine over the latest years are identified: the considerable devaluation of domestic currency (Hryvnya), sharp drop in GDP, the shrinking internal consumer demand, etc.    It is demonstrated that the risk of the increasing payments for service of public debt is an essential and chronic factor generating problems in public finances and affecting the budget security of Ukraine.  

scholarly journals Institutional Arrangements for Public Debt Management

2003 ◽  
Author(s):  
Elizabeth Currie ◽  
Jean-Jacques Dethier ◽  
Eriko Togo
Keyword(s):  
Public Debt ◽  
Institutional Arrangements ◽  
Debt Management ◽  
Public Debt Management

scholarly journals Public Debt Management and The Country’s Financial Stability

Studia Humana ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 10-18
Author(s):  
Piotr Misztal
Keyword(s):  
Public Debt ◽  
Financial Stability ◽  
Management Practices ◽  
Significant Risk ◽  
Debt Management ◽  
State Budget ◽  
Domestic Capital ◽  
Public Debt Management ◽  
The Government ◽  
Polish Economy

Abstract The government debt portfolio is usually the largest financial portfolio in the country. It often contains complex and risky financial structures and can generate significant risk to the state budget and the country’s financial stability. Therefore, governments are required to have sound risk management and sound public debt structures to limit exposure to market risk, debt financing or rolling risk, liquidity risk, credit, settlement and operational risk. In recent years, the debt market crises have highlighted the importance of sound public debt management practices and related risks, and the need for an effective and well-developed domestic capital market. This may reduce the vulnerability of the economy to adverse economic and financial shocks. However, it is also important for the government to maintain a macroeconomic policy that ensures sound fiscal and monetary management. The aim of the research is to present the theoretical and practical aspects of extremely important issues such as public debt management and to indicate the most important implications for the financial stability of the country on the example of the Polish economy. The study uses a research method based on literature studies in the field of macroeconomics, economic policy and finance, as well as statistical analysis of the studied phenomenon. Results of research indicate that effective public debt management can reduce the economy’s vulnerability to financial threats, contribute to the financial stability of the country, maintain debt stability and protect the government’s reputation among investors.

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