Restrukturierung und Insolvenz von Kommunen

2021 ◽  
Author(s):  
Anna Katharina Wilke
Keyword(s):  
Economic Performance ◽  
Debt Financing ◽  
Insolvency Law ◽  
Local Politicians ◽  
Municipal Law ◽  
Budget Consolidation ◽  
Debt Levels

This thesis is becoming more important to public treasurers, local politicians and restructuring representatives by the day as it describes a specialized framework for dealing with distressed municipal budgets without necessarily having to rely on further funding. It develops a restructuring framework that revives the economic performance of municipalities by reducing their debt levels without jeopardizing their overall debt financing. The approach does not built on insolvency law. Instead, the framework draws back to the emancipated principles of restructuring law, which are adapted to the specific rules of municipal law for budget consolidation.

Does Performance Matter? Evaluating Political Selection Along the Chinese Administrative Ladder

2017 ◽  
Vol 51 (8) ◽  
pp. 1074-1105 ◽  
Author(s):  
Pierre F. Landry ◽  
Xiaobo Lü ◽  
Haiyan Duan
Keyword(s):  
Economic Performance ◽  
Large Scale ◽  
Political Connections ◽  
Political Connection ◽  
Relative Importance ◽  
Heterogeneous Effects ◽  
Local Politicians ◽  
Political Selection ◽  
Ruling Elites ◽  
Government Executives

Political selection is central to the survival of all regimes. This article evaluates the relative importance of performance and political connection for the advancement of local politicians under authoritarianism. We hypothesize that in a large-scale multilevel polity, economic performance plays a greater role in promotion at lower administrative levels of government than at higher ones, even after controlling for political connections. This dualist strategy allows the ruling elites to achieve economic performance while minimizing the advancement of potentially disloyal challengers. Thus, balancing between loyalty and competence among subordinates enhances regime survival. Our empirical evidence draws on a comprehensive panel dataset of provincial, prefectural, and county-level Communist party secretaries and government executives appointed between 1999 and 2007. We find consistent evidence for our argument under various model specifications. We also explore the heterogeneous effects of performance on promotion given the Chinese Communist Party’s (CCP) age ineligibility rule for cadre promotion and jurisdiction characteristics.

scholarly journals Determinants of debt financing in South African state-owned entities

2021 ◽  
Vol 3 (1) ◽  
pp. 40-52
Author(s):  
Ferina Marimuthu
Keyword(s):  
South Africa ◽  
Capital Structure ◽  
South African ◽  
Debt Crisis ◽  
African State ◽  
Generalized Method Of Moments ◽  
Debt Financing ◽  
Data Set ◽  
The Government ◽  
Debt Levels

Using debt to finance investments is a common feature in the balance sheets of state-owned entities (SOEs). The greater the degree of financial leverage, the higher the proportion of debt resulting in greater interest payments that negatively affect the earnings attributable to shareholders. This paper considers the determinants of debt financing in light of the debt crisis that the South African economy faces and, more so, the public sector and its validity under capital structure theories. The data set was analyzed for the financial period from 1995 to 2020 of thirty-three commercial SOEs in South Africa. Multiple regression models were tested using the Generalized Method of Moments estimator. The results highlighted that significant variables affecting state-owned entities’ debt levels are profitability, age, growth opportunities, liquidity, probability of bankruptcy, and non-debt tax shield. The policy recommendations are that the government prioritizes reducing debt levels for South Africa to develop and achieve sustainable development. The changes in firm-specific factors that affect the optimal capital structure and the entity’s value must be considered.

scholarly journals Assessing PIIGS Country Performance against Themselves and the EU

2020 ◽  
Vol 16 (4) ◽  
pp. 74
Author(s):  
Samuel D. Barrows
Keyword(s):  
Foreign Direct Investment ◽  
Economic Performance ◽  
Direct Investment ◽  
Time Frame ◽  
Trade Flows ◽  
Real Gdp ◽  
Optimal Currency Areas ◽  
Insight Into ◽  
The Eu ◽  
Debt Levels

This study reviews research and provides discussions on various aspects of optimal currency areas, the link between debt and growth rates, and government debt levels for the PIIGS countries which consist of Portugal, Ireland, Italy, Greece, and Spain. Ten years after the Great Financial Crisis (GFC), and five years after 2013, the year of peak debt levels to GDP for the PIIGS countries and the year of the lowest real GDP levels between 2011 and 2018 for the PIIGS countries, this study provides an assessment of PIIGS country performance relative to each other and to the EU. The study time frame includes the years 2013 and 2018 using twelve measurements grouped into four sections which provide insight into the economic performance of the PIIGS countries. The sections are Trade Flows, Industry / Debt / Foreign Direct Investment (FDI), Demographics, and Economic Outcomes. Based on a summary analysis of the measurements, the overall ranking is: Ireland, followed by the EU, Spain, Portugal, Italy then Greece.

Family Identification with the Firm, Non-family Stakeholders Orientation, and Economic Performance--Model

2020 ◽  
Author(s):  
Mª de la Cruz Déniz‐Déniz ◽  
Mª Katiuska Cabrera-Suárez ◽  
Josefa D. Martín-Santana
Keyword(s):  
Economic Performance ◽  
Performance Model

Between Modernization and Stagnation: Economic Policy in 2012

2013 ◽  
pp. 4-23 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Economic Development ◽  
Structural Transformation ◽  
Economic Performance ◽  
Historical Analysis ◽  
Oil Boom ◽  
The World

The paper deals with the trends in the world and Russian economies towards development of a new post-crisis system, including technological and structural transformation. Three main scenarios of Russian economic development (conservative, innovation and acceleration) are discussed basing on historical analysis of Russian economic performance since 1970-s when oil boom started. On this basis key challenges of economic policy in 2013 are discussed.

Waiting for a New Model of Growth: Russia’s Social and Economic Development in 2013

2014 ◽  
pp. 4-32 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Economic Performance ◽  
Growth Rates ◽  
Global Crisis ◽  
New Model ◽  
Social And Economic Development ◽  
Economic Risks

The paper deals with Russian social and economic development in 2013 and prospects for the next year or two. The author discusses the logic and trends of the global crisis started in 2008. This is the basis for further analysis of current Russian economic performance with special emphasis on the problem of growth rates deceleration. Special attention is paid to economic risks and priorities of economic policy.

Our Debts Heavy... (on the Monograph “Debt as a Phenomenon of the XXI Century”)

2015 ◽  
pp. 152-159 ◽  
Author(s):  
T. Leonova
Keyword(s):  
European Union ◽  
Economic Development ◽  
Global Economy ◽  
Debt Financing ◽  
The European Union ◽  
National Economies

Lending capital, credit and debt financing have been around and used to fuel economic development since the time immemorial. There are innumerable studies by international and Russian scholars that look into the evolution of these notions and lending instruments employed. The collective monograph edited by A. Porokhovsky and published by the MSU in 2014 intends to provide an all-around political and economic as well as applied review of the current debt issues faced by the global economy, national economies of Russia, U.S.A. and countries of the European Union. It uses a variety of academic and methodological postulates that range from the reproduction approach to modern macroeconomic doctrines.

Economics of Happiness as an Academic Research Discipline

2012 ◽  
pp. 94-107 ◽  
Author(s):  
O. Antipina
Keyword(s):  
Economic Performance ◽  
Research Methodology ◽  
Academic Research ◽  
Well Being ◽  
Economic Indicators ◽  
Research Discipline ◽  
Happiness Economics ◽  
Education And Health ◽  
Economics Of Happiness ◽  
Happiness Level

The article contains a review of the contemporary research in the field of economics of happiness. Economics of happiness deals with correlation between the subjective notion of well-being and happiness with ones life (happiness level) and economic indicators. The author considers the correlation of economic and noneconomic factors. The last ones —  such as education and health — also affect the level of happiness. The author dwells upon the following questions: research methodology in economics of happiness, correlation between subjective notion of well-being and happiness with ones life and economic performance on micro- and macrolevels.

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