scholarly journals Issues in Restructuring of Sovereign Domestic Debt

Policy Papers ◽  
2021 ◽  
Vol 2021 (071) ◽  
pp. 1
Author(s):  
Keyword(s):  
Domestic Debt

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

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.

The Forgotten History of Domestic Debt

CFA Digest ◽  
2011 ◽  
Vol 41 (4) ◽  
pp. 64-66
Author(s):  
Tokunboh Ishmael
Keyword(s):  
Domestic Debt ◽  
History Of

Exchange Rate Volatility in Emerging Markets:The Chilean Case

2007 ◽  
pp. 87-100
Author(s):  
Juan R. Castro
Keyword(s):  
Exchange Rate ◽  
Exchange Rate Regime ◽  
External Debt ◽  
Exchange Rate Volatility ◽  
Arch Model ◽  
Macroeconomic Shocks ◽  
Domestic Debt ◽  
Domestic Credit ◽  
The Face ◽  
The Exchange Rate

The document conducts an empirical investigation on the volatility of the Chilean exchange rate regime, using a model of Objective Zones. Through the use of the ARCH model, the document tests the volatility of the exchange rate in the presence of different levels of international reserves and other macroeconomic shocks. The results show that domestic credit, domestic debt and external debt have the greatest impact on the volatility of the variables studied, especially when compared with other fundamental variables. The variance of the exchange rate is heterosedastic but it is not persistent, which implies that the exchange rate is stable, probably when it oscillates between two bands. The volatility of the exchange rate fluctuates to a greater extent in the face of changes in internal and external debt, than with the other variables used.

How Does Public Debt Affect the Indian Macroeconomy? A Structural VAR Approach

2020 ◽  
Vol 14 (3) ◽  
pp. 253-284
Author(s):  
Ranjan Kumar Mohanty ◽  
Sidheswar Panda
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Public Debt ◽  
Positive Impact ◽  
Decomposition Analysis ◽  
Structural Var ◽  
Adverse Impact ◽  
Mixed Effect ◽  
Domestic Debt ◽  
The Impact

The study investigates the macroeconomic effects of public debt in India during 1980–2017 using a structural vector autoregression framework. The objective is to examine the impact of public debt on the interest rate, investment, inflation and economic growth in India. The results of the impulse response functions show that public debt has an adverse impact on economic growth but a positive impact on the long-term interest rate in the short run and a mixed effect (both negative and positive) on investment and inflation. We also find that domestic debt has a more adverse impact on the economy than external debt. The estimated variance decomposition analysis finds that much of the variation in selected macro variables are explained by public debt and growth in India. This study suggests that public debt especially domestic debt should be controlled and channelled productively to have a favourable impact on the economy. JEL Classification: H63, O40, C40

Domestic Debt and Private Investment: The Case of a Small Open Economy

2021 ◽  
Vol 55 (4) ◽  
pp. 249-267
Author(s):  
Dinci Jessica Penzin ◽  
Olajide Sunday Oladipo
Keyword(s):  
Open Economy ◽  
Small Open Economy ◽  
Private Investment ◽  
Domestic Debt

The geographies of corruption in Nigeria: understanding the patterns and correlates

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Adeleke ◽  
Opeyemi Alabede ◽  
Tolulope Osayomi ◽  
Ayodeji Iyanda
Keyword(s):  
Positive Impact ◽  
Market Competition ◽  
State Level ◽  
Well Being ◽  
Moran’S I ◽  
Market Size ◽  
National Bureau ◽  
Moran's I ◽  
Content Type ◽  
Domestic Debt

Purpose Globally, corruption has been identified as a major problem. Even though corruption is widespread, it varies in magnitude, types and consequences. In Nigeria, corruption is endemic, and it is responsible for the many socioeconomic problems in the country. Hence, the study aims to determine the patterns and state level correlations of corruption in Nigeria. Design/methodology/approach Data for this study were sourced from the National Bureau of Statistics and other official sources and were analyzed with Global Moran’s I, Local Moran’s I and multivariate step-wise regression. Findings This study’s findings revealed significant clustering of corruption in the country with Rivers States as the only hotspot (I = 0.068; z = 2.524; p < 0.05), while domestic debt and market size were the state level significant predictors. Research limitations/implications Only bribery as a form of corruption was examined in this study, more studies are needed on the predictors of other forms of corruption. Practical implications This study recommends increased market competition through investment grants, subsidies and tax incentives to facilitate trade interactions among Nigerians, which can lead to exchange of cultural norms that discourage corruption. It is also advocated that domestic debt must be effectively and efficiently channelled towards economic development which in the long run will have a positive impact on the socio-economic well-being of the citizens as well as drive down corrupt practices. Originality/value Although the causes of corruption have received considerable attention in the literature, little is known on the geographical distribution and the effect of market size and domestic debt on corruption in Nigeria.

scholarly journals THE SUSTAINABILITY OF STATE BUDGET IN DEBT REPAYMENT

2011 ◽  
Vol 13 (4) ◽  
pp. 415-434
Author(s):  
Haryo Kuncoro
Keyword(s):  
Data Analysis ◽  
Central Government ◽  
Foreign Debt ◽  
Theoretical Background ◽  
Fiscal Sustainability ◽  
Government Budget ◽  
State Budget ◽  
Quarterly Data ◽  
Domestic Debt ◽  
The Government

This paper is designed to analyze the sustainability of the central government budget in the case of Indonesia over the period of 1999-2009. First, we explore the theoretical background of the fiscal sustainability. Second, we develop a model to capture some factors determining the fiscal sustainability. Unlike the previous studies, we use both domestic debt and foreign debt to assess the fiscal solvency. Finally, we estimate it empirically. Based on the quarterly data analysis, we concluded that the government budget is unsustainable. This is associated with domestic debt rather than foreign debt. They imply that the central government should manage the debts carefully including re-profile, re-schedule, and re-structure them in order to spread the excess burden in the future. Also, the fiscal risks should be calculated comprehensively in order to maintain solvency.Keywords: Domestic debt, Foreign debt, Fiscal sustainability, Primary balanceJEL Clasbsification: E62, H63

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