Domestic Debt Market in India Its Resilience in Funding Infrastructure

The Risks of Russia's Debt Policy against the Background of the Global Debt Crisis

Voprosy Ekonomiki ◽

10.32609/0042-8736-2012-3-80-97 ◽

2012 ◽

pp. 80-97

Author(s):

B. Kheifets

Keyword(s):

Debt Crisis ◽

Strong Dependence ◽

Domestic Debt ◽

Debt Market ◽

State Paternalism ◽

High Level ◽

External Borrowing ◽

Pension Liabilities ◽

Policy Problems ◽

Debt Policy

The paper discusses the debt component of the current global crisis, which becomes stronger in 2011—2012. The Russian economy is analyzed in terms of its debt stability: a thorough analysis shows that it is not quite adequate. This paper presents the main problems that could be exacerbated by the global debt crisis (strong dependence of the budget on the volatility of oil prices, deterioration of conditions for external borrowing and overheat of the domestic debt market, too high public pension liabilities, substantial corporate debt and high level of state paternalism in regard to big business). Some measures to address Russian debt policy problems are proposed.

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Central European local investors will hold on to bonds

Emerald Expert Briefings ◽

10.1108/oxan-db217193 ◽

2017 ◽

Keyword(s):

Emerging Market ◽

Bond Markets ◽

Content Type ◽

Developed Economies ◽

Local Currency ◽

Domestic Debt ◽

The Us ◽

Debt Market ◽

Us Presidential Election ◽

To Come

Significance The lira’s collapse is fuelling outflows from Turkey’s local currency government debt market, as foreign investors reduce their purchases of emerging market (EM) domestic debt amid a sharp sell-off in bond markets following Donald Trump’s upset victory in the US presidential election. Both Hungary and Poland -- hitherto two of the most resilient EMs -- suffered net outflows last year and are likely to come under further pressure as the ECB starts to scale back, or ‘taper’, its programme of quantitative easing (QE) in April. Impacts The dollar’s rise against a basket of other currencies since the US election will put severe strain on EM assets. The surging price of Brent crude is improving the inflation and growth outlook. Higher international oil prices will also reduce the scope for further easing of monetary policy in developing and developed economies.

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The Sovereign-Bank Nexus and the Case for European Safe Bonds

10.1093/oso/9780198815815.003.0008 ◽

2018 ◽

Cited By ~ 1

Author(s):

Marco Pagano

Keyword(s):

Sovereign Debt ◽

Debt Crisis ◽

Bank Lending ◽

Banking Regulation ◽

Regulatory Change ◽

Domestic Debt ◽

European Banking ◽

Debt Market ◽

Regulatory Incentives

During the Euro debt crisis, banks’ holdings of domestic sovereign debt amplified the transmission of sovereign stress to bank lending and solvency risk in stressed countries. Yet, current proposals to reform European banking regulation of bank sovereign exposures meet with obstacles, some structural—namely, the scarcity and asymmetric provision of safe assets—and others transitional—chiefly the danger that regulatory change may trigger instability in the sovereign debt market. But both types of obstacles can be overcome by introducing a synthetic security resulting from the securitization of Eurozone sovereign debt—European Safe Bonds, or ESBies—and by providing regulatory incentives for banks to replace domestic debt holdings with this security.

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Effect of Interest Rates on Private Sector Debt in Kenya

Journal of Business Theory and Practice ◽

10.22158/jbtp.v8n4p21 ◽

2020 ◽

Vol 8 (4) ◽

pp. p21

Author(s):

Philip Njau Kibunja ◽

Olanrewaju Isola Fatoki

Keyword(s):

Private Sector ◽

Interest Rates ◽

Commercial Bank ◽

Banking Sector ◽

Weighted Average ◽

Bank Lending ◽

Domestic Debt ◽

Lending Rate ◽

Debt Market ◽

Independent Variable

This study sought to examine the effect of interest rates on domestic private sector debt in Kenya over the 30 year period from 1990 to 2019. The dependent variable was private sector domestic debt, the independent variable was commercial bank weighted average lending rate while the control variables were annual GDP growth, extended broad money (M3) and annual USD-KES exchange rate. Using the Prais-Winstein estimator model, the regression model findings were commercial bank lending rate had an insignificant relationship with domestic debt at 95% confidence level but significant at 90% level while money supply had a negative and significant relationship with domestic debt. The study noted predominance of the banking sector in the financial sector and identified the need of a well-developed corporate debt market.

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Use of derivatives for debt management and domestic debt market development

OECD Journal Financial Market Trends ◽

10.1787/fmt-v2008-art9-en ◽

2008 ◽

Vol 2008 (1) ◽

pp. 223-235 ◽

Cited By ~ 1

Author(s):

Hans J. Blommestein ◽

Ceyla Pazarbasioglu ◽

Anderson Silva ◽

Das Udaibir ◽

Alison Harwood

Keyword(s):

Debt Management ◽

Market Development ◽

Domestic Debt ◽

Debt Market

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The influence of tax regulation liberalisation on the development of the domestic debt market

Global Markets and Financial Engineering ◽

10.18334/gmfe.2.1.468 ◽

2015 ◽

Vol 2 (1) ◽

pp. 47

Author(s):

Aleksandr Ovchinnikov

Keyword(s):

Domestic Debt ◽

Debt Market ◽

Tax Regulation

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Banks, domestic debt, and crises: The recent Brazilian experience*

Brazilian Journal of Political Economy ◽

10.1590/0101-31572002-0976 ◽

2002 ◽

Vol 22 (4) ◽

pp. 651-669

Author(s):

AFONSO S. BEVILAQUA ◽

MÁRCIO G. P. GARCIA

Keyword(s):

Banking Sector ◽

Home Bias ◽

The Public ◽

Brazilian Government ◽

Domestic Debt ◽

Recent Developments ◽

Debt Market ◽

Fiscal Austerity ◽

Structural Aspects

ABSTRACT This paper examines the recent evolution of the Brazilian public domestic debt and interprets it in light of the confidence crisis literature. The analysis of the recent developments in the Brazilian public domestic debt market shows that the likelihood of a default must not be assessed only using simple summary aggregate measures of public domestic debt size and maturity, but must also consider other structural aspects. Our analysis emphasizes the two main pillars of the Brazilian public domestic debt market: home-bias and the role of the banking sector in intermediating the debt. Evidence from yields of a “perfectly” indexed bond shows that the rollover premium was very small when the devaluation occurred, and is still fairly small by October, 1999, indicating that the rollover of the public domestic debt is not, so far, a serious problem. Positive prospects for the public domestic debt market will depend, however, on the Brazilian government maintaining the current fiscal austerity program.

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Financial Systems and economic Development in the Russian Regions: A Comparative Analysis

Voprosy Ekonomiki ◽

10.32609/0042-8736-2015-10-94-108 ◽

2015 ◽

pp. 94-108 ◽

Cited By ~ 3

Author(s):

K. Krinichansky

Keyword(s):

Economic Development ◽

Comparative Analysis ◽

Financial Development ◽

Public Debt ◽

Fixed Capital ◽

Russian Regions ◽

Growth Mechanisms ◽

Financial Systems ◽

Debt Market ◽

Regions Of Russia

The paper identifies and assesses the closeness of the connection between incremental indicators of the financial development in the regions of Russia with the incremental regional GDP and the investment in fixed capital. It is shown that the positioning of the region as an independent participant of public debt market matters: the regional GDP and investment in fixed capital grow more rapidly in the regions which are regularly borrowing on the sub-federal bonds market. The paper also demonstrates that the poorly developed financial system in some regions have caused the imperfection of the growth mechanisms since the economy is not able to use the financial system’s functions.

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