The Effect of Public Debt on Foreign Reserves in Iraq for the Period from 2003-2019: An Econometrics Analysis

2021 ◽  
Vol 20 (4) ◽  
pp. 732-742
Author(s):  
AhmedSabeeh Attiya ◽  
Fatima Messhib Laftah ◽  
AdelSalam Kashcool
Keyword(s):  
Public Debt ◽  
Foreign Reserves ◽  
Econometrics Analysis

Kenya should manage its public debt

2016 ◽  
Keyword(s):  
Monetary Policy ◽  
Public Debt ◽  
Foreign Currency ◽  
Balance Of Payments ◽  
Fiscal Deficit ◽  
Policy Decisions ◽  
Foreign Reserves ◽  
National Elections ◽  
Content Type ◽  
Currency Depreciation

Significance Boosting exports would stabilise Kenya's account and reduce the risk of currency depreciation, both important for Nairobi's ability to manage public debt. Kenya has increased borrowing in recent years in part to fund projects designed to grow the economy. Impacts Threats of al-Shabaab attacks will depress incoming tourism, a source of foreign currency. National elections in 2017 will limit the government's scope for austerity and delay improvements in the fiscal deficit. Increasing inflation will erode government revenues and encourage contractionary monetary policy decisions. Net outflows on the balance of payments and declining foreign reserves will restrict the central bank's ability to intervene in shocks.

Debt overhang threatens Kenya’s infrastructure plans

2019 ◽  
Keyword(s):  
Exchange Rate ◽  
Public Debt ◽  
External Debt ◽  
Development Projects ◽  
Foreign Reserves ◽  
Fiscal Deficits ◽  
Content Type ◽  
Debt Overhang ◽  
Alternative Approaches ◽  
Central Bank Governor

Subject Kenya's debt difficulties. Significance Central Bank Governor Patrick Njoroge recently called for reorganising Kenya’s public debt and exploring alternative approaches to fund fiscal deficits. Increased infrastructure spending over recent years has contributed to a steep rise in debt, causing recurrent spending to increase faster than the development budget this debt is supposed to finance. Impacts Rising commercial external debt will put increasing pressure on the country’s exchange rate and foreign reserves. Institutional weaknesses may threaten the current appeal to restrict overdependence on debt. Corruption scandals may slow or even stall some development projects.

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

2015 ◽  
pp. 94-108 ◽  
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.

Is money the creation of the state or the market? (On the “modern monetary theory” as described in the textbook by W. Mitchell, L. R. Wray and M. Watts “Macroeconomics”)

2020 ◽  
pp. 121-134
Author(s):  
S. A. Andryushin
Keyword(s):  
Public Debt ◽  
Scientific Community ◽  
Full Employment ◽  
Term Effect ◽  
Scientific Concept ◽  
Monetary Theory ◽  
Left Wing ◽  
Medium Term ◽  
Short Term ◽  
Stimulation Of

In 2019, a textbook “Macroeconomics” was published in London, on the pages of which the authors presented a new monetary doctrine — Modern Monetary Theory, MMT, — an unorthodox concept based on the postulates of Post-Keynesianism, New Institutionalism, and the theory of Marxism. The attitude to this scientific concept in the scientific community is ambiguous. A smaller part of scientists actively support this doctrine, which is directly related to state monetary and fiscal stimulation of full employment, public debt servicing and economic growth. Others, the majority of economists, on the contrary, strongly criticize MMT, arguing that the new theory hides simple left-wing populism, designed for a temporary and short-term effect. This article considers the origins and the main provisions of MMT, its discussions with the mainstream, criticism of the basic tenets of MMT, and also assesses possible prospects for the development of MMT in the medium term.

Secular stagnation in the modern world

2018 ◽  
pp. 125-141 ◽  
Author(s):  
S. M. Drobyshevsky ◽  
P. V. Trunin ◽  
A. V. Bozhechkova
Keyword(s):  
Public Debt ◽  
Capital Accumulation ◽  
Technological Development ◽  
Japanese Economy ◽  
Modern World ◽  
Key Factors ◽  
Destruction Process ◽  
Secular Stagnation ◽  
The Impact

The paper studies the factors of secular stagnation. Key factors of long-term slowdown in economic growth include the slowdown of technological development, aging population, human capital accumulation limits, high public debt, creative destruction process violation etc. The authors analyze key theoretical aspects of long-term stagnation and study the impact of these factors on Japanies economy. The authors conclude that most of the factors have significant influence on the Japanese economy for recent decades, but they cannot explain all dynamics. For Russia, on the contrary, we do not see any grounds for considering the decline in the economy since 2013 as an episode of secular stagnation.

Infrastructure mortgage in Russia: Opportunities and prospects

2019 ◽  
pp. 114-133
Author(s):  
G. I. Idrisov ◽  
Y. Yu. Ponomarev
Keyword(s):  
Federal Government ◽  
Public Debt ◽  
Budget Deficit ◽  
Expert Assessment ◽  
Inflation Expectations ◽  
Direct Impact ◽  
Long Run ◽  
Gdp Growth Rate ◽  
Negative Effect

The article shows that depending on the goals pursued by the federal government and the available interbudgetary tools a different design of infrastructure mortgage is preferable. Three variants of such mortgage in Russia are proposed, each of which is better suited for certain types of projects and uses different forms of subsidies. According to our expert assessment the active use of infrastructure mortgage in Russia can increase the average annual GDP growth rate by 0.5 p. p. on the horizon of 5—7 years. In the long run the growth of infrastructure financing through the use of infrastructure mortgage could increase long-term economic growth by 0.9 p. p., which in 20—30 years can add 20—30% of GDP to the economy. However, the change in the structure of budget expenditures in the absence of an increase in the budget deficit and public debt will cause no direct impact on monetary policy. The increase in the deficit and the build-up of public debt will have a negative effect on inflation expectations, which will require monetary tightening for a longer time to stabilize them.

Public debt and financial sustainability of the italian public finances

2013 ◽  
pp. 5-34
Author(s):  
Federico Pica ◽  
Salvatore Villani
Keyword(s):  
Public Debt ◽  
Financial Sustainability ◽  
Public Finances
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