Journal articles on the topic 'Debt'
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1
Cui, Huanqing. "DebtG: A Graph Model for Debt Relationship." Information 12, no. 9 (August 26, 2021): 347. http://dx.doi.org/10.3390/info12090347.
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Debt is common in daily transactions, but it may bring great harm to individuals, enterprises, and society and even lead to a debt crisis. This paper proposes a weighted directed multi-arc graph model DebtG of debts among a large number of entities, including individuals, enterprises, banks, and governments, etc. Both vertices and arcs of DebtG have attributes. In further, it defines three basic debt structures: debt path, debt tree, and debt circuit, and it presents algorithms to detect them and basic methods to solve debt clearing problems using these structures. Because the data collection and computation need a third-party platform, this paper also presents the profit analysis of the platform. It carries out a case analysis using the real-life data of enterprises in Huangdao Zone. Finally, it points out four key problems that should be addressed in the future.
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Ishak, Suraiya, and Ahmad Raflis Che Omar. "Youths and Credit: An Analysis of Debt Perspective and Management Among Youths." Global Journal Al-Thaqafah 10, no. 1 (July 31, 2020): 48–57. http://dx.doi.org/10.7187/gjat072020-7.
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Youths are no exception when it comes to being in debt and getting exposed to negative consequences of debts. This study surveys debt management practices among the youths. Furthermore, this study analyzes the relationship between debt management and independent variables such as debt perspectives, lifestyle and knowledge about debts. The survey method was used to gather the data. The descriptive analysis, principal components and independent t-test were employed to describe practices of the youths in debt management. Meanwhile, the Pearson correlation analyzes the relationship among debt management practices, lifestyle, debt perspectives and debt knowledge of the youths. Research findings indicate that the youths perceived debts as a financing means to fulfill their needs and desires. Most of the respondents practiced prudent debt management. The t-test result shows the male and female youths are no different in the ways thet managed their debts. The principle components analysis has identified three debt management behaviors consisting of “prudent and cautious”, “courageous and opportunistic” and “tight budget”. The correlation analysis shows that lifestyle, debt knowledge and debt perspectives have significant relationships with debt management practices. This implies that youths should embrace right perspective about debts, as well as practice affordable lifestyles to avoid imprudence and debts.
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El-Khoury, Gabi. "Public debts of Arab countries: selected indicators." Contemporary Arab Affairs 10, no. 2 (April 1, 2017): 321–24. http://dx.doi.org/10.1080/17550912.2017.1311104.
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This statistical file is concerned with the issue of public debts in Arab countries. It assumes that public debt is a key source to fund the budget deficit in most Arab countries, and the rising public debt, particularly external debt, is increasingly becoming a concern for several countries in the region due to the pressure debt servicing might impose on these countries, which basically suffer an uncomfortable primary balance, in addition to the impact of crises in the region. Table 1 provides indicators on domestic public debts with ratios of debts to GDP, while Table 2 gives figures of external public debts with debt ratios to GDP. Table 3 provides estimates of total public debts with their ratios to GDP, while Tables 4 and 5 show figures of external public debt service, ratios of debt servicing to exports of goods and services and external public debt service ratios to Arab governments’ revenues respectively.
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Do Thi Kim Tien. "DEBT TRADING OF ENTERPRISES AND CREDIT INSTITUTIONS: A STUDY IN THE VIETNAMESE MARKET." International Journal of Advanced Economics 6, no. 4 (April 18, 2024): 49–64. http://dx.doi.org/10.51594/ijae.v6i4.1054.
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The State Bank has issued Circular No. 18/2022/TT-NHNN amending and supplementing certain provisions of Circular No. 09/2015/TT-NHNN regulating the activities of buying and selling debts of credit institutions. Effective from February 9, 2023, Circular No. 18/2022/TT-NHNN is attracting the attention of many enterprises and banks in the process of implementation with new regulations. This article analyzes and clarifies the amendments and new supplements related to the trading of debts of credit institutions. The formation and development of the debt trading market, specifically bad debts of enterprises, are objective requirements in Vietnam today. The absence of a debt trading market is considered a major bottleneck in the current bad debt resolution process. According to the Economic Committee of the National Assembly, bad debts in the banking system in 2017 were below 3%, but in reality, bad debts throughout the economy are still high. However, the debt trading market still faces many limitations and requires adjustments to achieve higher efficiency. The activity of buying and selling debts of commercial banks in Vietnam is gradually becoming an objective necessity for the development of the economy. Debt trading is a very new field in Vietnam, but in essence, it is a fundamental economic activity in commercial banks. However, in recent years, the debt trading market has not truly developed, lacking competition among debt buyers, with low debt handling experience, and failing to meet market expectations with a large amount of bad debts to be resolved. This somewhat reduces the demand for debt trading of commercial banks with bad debts, hampering the development of the debt trading market of commercial banks.
Keywords: Debt Trading Market, Bad Debts, Vietnam, Commercial Banks.
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Tsvirko, S. E. "PROBLEMS OF PUBLIC DEBT MANAGEMENT SYSTEM IN RUSSIA." Strategic decisions and risk management, no. 6 (October 25, 2014): 56–63. http://dx.doi.org/10.17747/2078-8886-2013-6-56-63.
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The problems of the Russia’s debt management are revealed. Evolution of the public debts’ problem of the Russian Federation including the question of its interaction with private debts is discussed. Risks in debt sphere are analyzed. Specific features of the Russian economy such as the dependence on world energy prices, low efficiency of public expenditures, rapid growth of internal public debts and external quasi-sovereign and private debts are defined. Principles of debt management and areas of improvement in the system of Russia’s debt management were defined.
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Syukriah, H. G., Yaswirman Yaswirman, Firman Hasan, Kurniawarman Kurniawarman, and Taufiqurrahman Taufiqurrahman. "Debt Guarantee Settlement Patterns in Minangkabau." International Journal of Criminology and Sociology 10 (December 31, 2020): 313–19. http://dx.doi.org/10.6000/1929-4409.2021.10.38.
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Debt collateral is often unacceptable to the execution of debt collateral because there is coercion and leads to court so that many debts are not collected. In Minangkabau customary law, there is no compulsion to pay off debts. This research answers how people make debt-receivables agreements and must be repaid by the debtors in the Minangkabau customary law arrangement in Sungai Dareh village, West Sumatra. This research method is through observation and interviews of local customary leaders. The implementation of the pattern of execution of debt collateral settlement in Minangkabau is motivated by the legal relationship between the creditor and the collateral in the form of land. The creditor only has the right to cultivate or take the proceeds from the land given by the debt recipient until the debt is paid off or redeemed by the debt recipient, so that debt settlement will never transfer ownership rights to the land. In an urgent situation, the creditor can transfer the debt to the new lender, which stops the legal relationship between the first creditor and the debt recipient and creates a new legal relationship between the second creditor and the debt recipient. Creditors' rights remain a priority, and there is no time limit in paying off debts. This debt settlement is very different from debt settlement in positive law in Indonesia. The creditor has the right to sell the land as collateral for the debt if the debt cannot be settled after a certain period, which results in the loss of ownership of the debt recipient over the land that is used as debt collateral. There is a need for positive legal reform in Indonesia regarding the execution of debt guarantees.
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Reinhart, Carmen M., and Kenneth S. Rogoff. "From Financial Crash to Debt Crisis." American Economic Review 101, no. 5 (August 1, 2011): 1676–706. http://dx.doi.org/10.1257/aer.101.5.1676.
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Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both “world” aggregate levels and on an individual country basis. First, external debt surges are an antecedent to banking crises. Second, banking crises (domestic and those in financial centers) often precede or accompany sovereign debt crises; we find they help predict them. Third, public borrowing surges ahead of external sovereign default, as governments have “hidden domestic debts” that exceed the better documented levels of external debt. (JEL E44, F34, F44, G01, H63, N20)
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Fujita, Yasunori. "How Should We Balance Domestic and Foreign Debts in Order to Avoid Debt Trap?" Archives of Business Research 11, no. 1 (January 21, 2023): 61–67. http://dx.doi.org/10.14738/abr.111.13797.
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Many attempts have been made to examine the effect of debts on economic growth, in order to find out the ways to avoid debt trap, where national revenue is obliged to be spent mainly for repaying debts rather than constructing infrastructures for long-term economic development, making it even more difficult to repay the debts, like Sri Lanka that fell into its worst financial crisis in 2022. In the present paper, we explore the proper debt management to avoid the debt trap, by laying out a theoretical model that incorporates both domestic and foreign debts based on Fujita (2022) and Padoan et al (2012).
Main results we obtain are summarized as follows. (1) In order to avoid the debt trap, in accordance with increase in ratio of domestic debt to GDP, , government should increase ratio of foreign debt to GDP, up to certain level of , , and reduce after that. (2) if domestic interest rate does not increase so much in accordance with increase in difference of growth rates of domestic debt and GDP, government should reduce if foreign interest rate increases; if domestic interest rate increases sharply in accordance with increase in difference of growth rates of domestic debt and GDP, government should increase if foreign interest rate increases.
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Kukel, Galina. "World Experience in Regulating External Debt in Conditions of Financial and Economic Instability." Modern Economics 32, no. 1 (April 20, 2022): 48–53. http://dx.doi.org/10.31521/modecon.v32(2022)-06.
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Abstract. Introduction. This article is devoted to the state of public global public debt and new approaches towards its regulation in both developed and developing countries. The theoretical and methodological bases of effective external debt management are considered in the paper. Globalization of the world economy and finance has led to increasing of funds raised in the international debt market and strengthened its part in the system of world finance. Purpose. The subject of this research is public debt in different groups of countries. Analysis of the situation with global public debt and the peculiarities of its regulation is necessary to learn positive foreign experience for its possible application. The following factors of significant increase of public debt are outlined: severe reduction of economic activity and decline in government revenue; increase of public spending, including related to anti-crisis measures; growing primary deficit, and this, the need to increase borrowings. The countries with low and middle income additionally face significant capital outflows from their financial markets, devaluation of national currencies, and difficulties with debt refinancing. Results. The article examines the problem of the external debts growth of different countries, dynamics and modern structure of the global external debts and efforts made by the international institutions and national regulators in order to tighten control over operations in the international debt market. The author comes to conclusion that an aggravation of the problem of external debts globalization hampers the restoration of stability and sustainable growth of the modern world economy. The main tasks performed in the process of public debt management are determined. The means of debt management, in particular, the mechanisms for restructuring public debts, are determined. The paper reviews the organizations involved in the restructuring of public debt. Conclusions. The obtained results can be used for further prospective studies of external debt management mechanisms taking into account world practice, as well as for the implementation of debt policy instruments in the crisis period.
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Kivisi, Felister Saliku. "AFRICA’S SOVEREIGN BOND DEBTS: ALTERNATIVE TO DEAD AID AND CATALYST FOR DEVELOPMENT." American Journal of International Relations 4, no. 1 (January 21, 2019): 1–16. http://dx.doi.org/10.47672/ajir.377.
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Purpose: The study sought to examine viability of sovereign bond debts, the alternative to foreign aid, which Dambisa Moyo calls ‘Dead Aid’, for financing economic development in Africa.Methodology: The research is a desk research via the qualitative methodology where information was derived from published scholarly works of various authors on the issue of aid, debt and development of African countries.Findings: The study shows that several African countries, such as Angola, Kenya, Zambia, Côte d’Ivoire, Senegal and Gabon have ventured into international capital markets and accessed the sovereign bond debts. Second, these countries’ debts have grown exponentially while most of their economies are still commodity based and have not grown in tandem with the debt. Volatile commodity prices have made it difficult for some of these countries to raise enough resources to service these debts. Some of the debt is now maturing and these countries are now potentially facing debt crises akin to what they went through in the 1990s.Unique contribution to theory, practice and policy: Since 2006, many African countries have issued debt in the international bond markets but are now faced with prospects of default and accumulation of excessive debts. This has the potential of wiping out the gains achieved under the Highly Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI), which sought to reduce debt levels for the beneficiaries of these initiatives. Accessing international bond markets is not a panacea for Africa’s development problems. Indeed it seems to compound the African Sovereigns’ problems by creating conditions for future debt distress. Deliberate policy decisions and efforts are required in managing the risks that come with these kinds of debt.
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Aprita, Serlika, Amanda Mutia Carissa, Andini Yulia Putri, and Sabrina Sabrina. "PENDEKATAN HAK ASASI MANUSIA DEBITOR DAN KREDITOR DALAM PENGUJIAN UNDANG-UNDANG KEPALITIAN DAN PENUNDAAN KEWAJIBAN MEMBAYAR UTANG DIMASA MENDATANG." Solusi 21, no. 1 (January 1, 2023): 1–16. http://dx.doi.org/10.36546/solusi.v21i1.715.
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The Human Rights Approach of Debtors and Creditors in Testing Bankruptcy Laws and Postponing Bankruptcy Obligations to Pay Debts in the Future is discussed in this study, Along with how Indonesia's legal system's state or evolution with regard to bankruptcy law and the suspension of debt payment responsibilities. Indonesia. In this study, a normative research methodology is used to investigate problems with the law and pertinent literature. According to the study's findings, the Bankruptcy Law and Postponement of Obligation to Pay Future Debt regulates the human rights approach between debtors and creditors when it comes to testing the law. Law Number 37 of 2004 Concerning Bankruptcy and Postponement of Debt Payment Obligations is the name of this regulation. By filing for bankruptcy or requesting a suspension of their debt payment responsibilities, debtors can reach an agreement with their creditors regarding the repayment of their debts. A delay in payment of debt is a time period allotted by law in line with a Commercial Judge's Decision, during which the creditor and debtor can discuss how to pay their debts by drafting a payment plan for all or any of those debts, including by restructuring the debt. Either the debtor or the creditor may ask for a suspension of the debt payment obligations.
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Chen, Shiyi, and Wang Li. "Local government debt and regional economic growth in China." China Political Economy 2, no. 2 (December 2, 2019): 330–53. http://dx.doi.org/10.1108/cpe-10-2019-0028.
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Purpose With China’s economic growth slowing down and the growth rate of fiscal revenue decreasing, the pressure on local government debts is further increasing. Under this background, it is of great significance to clarify the relation between local government debts and China’s economic growth in order to give full play to the positive role of local debts in stabling growth. The paper aims to discuss this issue. Design/methodology/approach Therefore, this paper explores the impact of Chinese local government debt on economic growth from theoretical and empirical aspects, respectively, and compares the regional differences between different debts and economic growth dynamics. Findings In the theoretical model part, this paper constructs a three-sector dynamic game model, under the two circumstances of whether local government is subject to debt constraints, and examines the relation between local government debt and economic growth and other variables through numerical simulation. Research shows that when the government is not constrained by debt, there is an inverted “U” relation between government debt and economic growth. When the government is constrained by debt, the economic growth rate gradually decreases as the government debt increases. Originality/value In the theoretical analysis part, this paper tries to estimate the amount of local debts under different calibers and examines the impact of different types of local government debts on China’s economic growth and their regional differences. The results show that excessive accumulation of government hidden debts in the eastern region is not conducive to economic growth, while explicit debts in the central and western regions significantly contribute to local economic growth. The results of empirical analysis are basically consistent with the predictions of the theoretical model.
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Alekhin, B. I. "Government Debt of Russia and the United States in the XXI century." Mezhdunarodnaja jekonomika (The World Economics), no. 3 (March 18, 2024): 184–96. http://dx.doi.org/10.33920/vne-04-2403-03.
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This article has three parts. In the first part government debt is analyzed as the stock of government financial obligations in Russia and the USA. Obligations denominated in foreign currencies and direct credits are left behind because they are practically non-existent in US government financial transactions. Also excluded from the analysis are debts incurred by stateowned corporations, which are part of the corporate sector of the System of National Accounts. In the second part government debt is analyzed as a result of financial flows (borrowings) which show how debt changes over time. In both parts Russia is compared with the USA in terms of proportions between federal and sub-federal debts, domestic and foreign debts (Russia only), marketable and non-marketable debts as well as domestic and foreign participants of government securities markets. The third part of the article presents standard methodology of debt sustainability analysis and some results of Bohn test of debt sustainability for both countries.
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Chaleeda, Md Aminul Islam, Tunku Salha Tunku Ahmad, and Anas Najeeb Mosa Ghazalat. "The Effects of Corporate Financing Decisions on Firm Value in Bursa Malaysia." International Journal of Economics and Finance 11, no. 3 (February 28, 2019): 127. http://dx.doi.org/10.5539/ijef.v11n3p127.
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The primary objective of shareholders and financial managers is generally stated to be the maximization of shareholders’ wealth by increasing the firm value. This research was undertaken to investigate the effect of corporate financing decisions on firm value . The research has been carried out using the panel data procedure for a sample of 256 firms from 9 sectors listed on Bursa Malaysia during the period 2000-2015. The study uses Tobin’s Q representing firm value for the dependent variable. The corporate financing was measured by leverage (short-term debt to total assets, long-term debt to total assets, total debt to total assets and total debt to total equity) and debt maturity (long-term debt to total debt). Short-term debt to total assets and long-term debt to total assets has a positive significant relationship to firm value. This finding is consistent with the view that leverage and dividends mitigate agency costs of free cash flow problems, therefore, increasing firm value. Total debt to total assets affects firm value negatively. This proves that although there are benefits of debts, there is also the cost of debts. The cost of debt financing arises from the increase in the probability of bankruptcy. Firm value does not depend on the length of debt maturity.
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Johan, Suwinto, Amad Sudiro, Ariawan Gunadi, and Yuan Yuan Luo. "Rethinking Indebtedness according to the Principles of Justice and Equality." Lex Scientia Law Review 6, no. 2 (December 20, 2022): 443–78. http://dx.doi.org/10.15294/lesrev.v6i2.55011.
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The law's objective is to uphold the principle of justice. Contractual debts, interest-bearing debts, unsecured debts, and debts with payment terms are all included in restructuring plans. All debts must be accompanied by a contract. If the business defaults, the contract serves as proof of debt. This research focuses on Indonesia's bankruptcy law. This study employs an empirical qualitative legal method. The study recommends categorizing debt according to its source, duration, function, and collateral. Debts classified as restructuring must waive their collateral rights. This debt grouping is consistent with finance's capital structure theory. This research will revolutionize the current concept of debt restructuring. The study will serve as a resource for all business actors who have documented debt. Debt is uncommon in developing countries such as Indonesia. Entrepreneurs in developing countries have established business relationships based on mutual trust. The study's limitation is that it does not take industry type into account. Additionally, this research has implications for a firm's total cost of capital as a result of changes in the risk model and creditor roles, particularly in developing countries. This study proposes a system of debt classification based on principles of justice and equity. This classification is made not only on the basis of the guarantee's type, but also on the basis of the agreement's duration and financial principles. The purpose of this study is to examine bankruptcy law in developing countries. Knowledge of bankruptcy law will add value to investors and banks on a global scale.
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Akpan, M. S., A. Awujola, and D. A. Impalure. "Public Debt and Private Domestic Investment in Nigeria: An Empirical Investigation." International Journal of Economics, Business and Management Research 07, no. 03 (2023): 157–72. http://dx.doi.org/10.51505/ijebmr.2023.7312.
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The Nigerian government has been borrowing hugely over the years to finance her budget. However, the patterns of spending have shown to be more on recurrent expenditure and servicing of debt. Such spending pattern tends to caused domestic investment to decline and sometimes unstable. The continuous increase in Nigeria’s public debts, it’s associated rising debt service and declining/unstable domestic investment, motivated this study. Consequently, the aim of the paper is to investigate how Nigeria’s public debts have impacted on the country’s private domestic investment using time series data from 1981 to 2021. The data were estimated using the Auto-distributed Lag Model (ARDL) and Error Correction Model (ECM) techniques of analysis. Cointegration test showed that long-run (or equilibrium) relationship exists between public debt and private domestic investment in Nigeria. Findings from the study revealed that public external debt and pubic domestic debt have negative relationship with private domestic investment, while public debt service has positive relationship with private domestic investment. The study concluded that public debt have significant impact on private domestic investment due to the joint result of the Wald test. The paper recommended that the Debt Management Office (DMO) of Nigeria who is vested with the management of the country’s debt should advice the federal government to minimize or discourage the collection of debts to fund her budget. Also, the funds borrowed should be channeled into investment on projects that will improve private domestic investment.
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Bintoro, Nugroho Suryo. "The Resilience of Indonesia’s State Budget against Central Government Debt." Jurnal Ilmiah Administrasi Publik 006, no. 02 (August 1, 2020): 325–30. http://dx.doi.org/10.21776/ub.jiap.2020.006.02.20.
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The growth of central government debt in Indonesia is the subject of endless discussion for both economists and experts in other fields. Although the government uses this debt in order to increase Indonesia's competence through infrastructure development, there are problems in the form of previous accumulated debts. This accumulative debt is known as the concept of “debt stock” which is assessed through Indonesia's fiscal resilience (APBN) to measure the repayment capacity of new debts that will be made in the future. This ability will be seen using long-term data from 1990 to 2016 which is reflected in the variables of central government debt, government spending and revenue so that it is known that Indonesia's central government debt can still be said to be sustainable and the Indonesian government should prioritize productive expenditures in order to increase government revenues.
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Shinkareva, O. V., and V. A. Vishnevskiy. "Features of write-off of bad debts due to provisions created by medical institutions for doubtful debts in tax accounting." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 2 (February 18, 2023): 21–29. http://dx.doi.org/10.33920/med-17-2302-03.
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The article is devoted to the peculiarities of recognizing a bad debt and considering the specifics of writing off this debt due to the formed reserve for dubious debts in the tax accounting of medical organizations. The grounds for recognizing a doubtful debt as bad debt due to the provision were analyzed. It has been established that bad debt, unlike dubious debt, is already unrealistic for collection, which allows it to be taken into account in the losses when calculating corporate income tax. Important in this case is the question of the timing of recognition of receivables as bad debt and its inclusion in non-operating expenses: if a company does not form reserves for doubtful debts, then such recognition is carried out only after the expiration of the 3-year statute of limitations. In other cases, the organization has the right to include the amount of bad debt in the expenses when calculating the profit tax base after making an entry in the Unified State Register of Legal Entities to exclude the debtor from the register in connection with the liquidation. It was noted that bad debt in the tax accounting of medical organizations can be written off as a general rule or at the expense of a tax reserve created in the organization for this receivable (at the time when it was doubtful), or recognized as a separate independent non-operating expense in the event that the reserve of dubious debts was not created by a legal entity or the amount of bad debt exceeds the size of the tax reserve. To understand the general mechanism for writing off bad receivables, illustrative examples are given to determine the sequence of actions in the tax accounting of an organization when writing off bad debt in the tax accounting of organizations engaged in medical activities.
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Jankowski, Rafał, and Andrzej Paliński. "Debt Collection Model for Mass Receivables Based on Decision Rules—A Path to Efficiency and Sustainability." Sustainability 16, no. 14 (July 10, 2024): 5885. http://dx.doi.org/10.3390/su16145885.
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Debt collection companies buy overdue debts on the market in order to collect them and recover the highest possible amount of a debt. The pursuit of debt recovery by employees of collection agencies is a very demanding task. The aim of the article is to propose a rule-based model for managing the process of mass debt collection in a debt collection company, which will make the debt collection process more efficient. To achieve this, we have chosen a decision tree as a machine learning technique best suited for creating rules based on extensive data from the debt collection company. The classification accuracy of the decision tree, regardless of the possibility of acquiring rule-based knowledge, proved to be the highest among the tested machine learning methods, with an accuracy rate of 85.5%. Through experiments, we generated 16 stable rules to assist in the debt collection process. The proposed approach allows for the elimination of debts that are difficult to recover at the initial stage of the recovery process and to decide whether to pursue amicable debt collection or to escalate the debt recovery process to legal action. Our approach also enables the determination of specific actions during each stage of the proceedings. Abandoning certain actions or reducing their frequency will alleviate the burden on collection agency employees and help to avoid the typical burnout associated with this line of work. This is the path to making the organizational culture of a collection agency more sustainable. Our model also confirms the possibility of using data from debt collection companies to automatically generate procedural rules and automate the process of purchasing and collecting debts. However, this would require a larger set of attributes than what we currently possess.
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Almezeini, Abdulaziz A. "The Negotiability of Debt in Islamic Finance: An Analytical and Critical Study." Brill Research Perspectives in International Banking and Securities Law 1, no. 3 (December 27, 2016): 1–87. http://dx.doi.org/10.1163/24056936-12340003.
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The challenges posed by the non-liquidity and non-diversity of the Islamic debts market make the market an inefficient tool on contributing to Muslim economic growth. Islamic scholars and experts created sukuk as an Islamic debt instrument to avoid riba (usury), but the sukuk market (especially in the Gulf) still struggles with the prohibition of the trade of debt due to the prohibition of the two Fiqh Academies.Trading and securitizing debts should be permitted in Islamic law, with one condition, that the debt should be considered low risk. This new rule, the permissibility of trading debts, is supported by three Islamic legal bases, istishab, qiyas, and maslaha, which are recognized by all four Islamic schools of legal thought. Furthermore, permitting the trading of debts is more consistent with the principles and theories of Islamic law than is forbidding it. It is consistent with the obligations theory that debt is a personal right. It is consistent with the mal (property) theory that debt may be sold according to the three Islamic schools of legal thought, all of which consider debt as property. It is consistent with other modern Islamic financial transactions that are permitted by the two Fiqh Academies, such as tawarruq and murabaha.
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Kish, Richard J., and Miles Livingston. "Market Reactions To Callable And Noncallable Debt Issues." Journal of Applied Business Research (JABR) 9, no. 4 (September 27, 2011): 54. http://dx.doi.org/10.19030/jabr.v9i4.5994.
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Financial theory claims that issuing callable debt rather than noncallable debt offers substantial advantages to the issuing firms. Yet our evidence shows that a substantial amount of noncallable debt exists, suggesting a deficiency in the theory. Our event study analysis found that market reactions to callable bond issues were not significantly different from zero. Thus, the prevalent claim that callable debt offers an advantage over noncallable debt is not supported. The market was found to reach negatively the issuance of noncallable debt, short-term noncallable debit, short-term callable debt, and short-term debt. Therefore, short-term bonds appear to be a signal of negative private information and long-term debt issues appear to be a signal of positive information.
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Phiri, Millicent Mubiana, and Borniface Namushi Tembo. "Analysis of how Economic Growth in Developing Countries is Influenced by Public Borrowing: A Case Study of Rwanda." American Journal of Finance and Business Management 1, no. 1 (July 4, 2022): 1–10. http://dx.doi.org/10.58425/ajfbm.v1i1.20.
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Purpose: This study sought to analyze how economic growth in developing countries is influenced by public borrowing referencing on Rwanda as a case study.
Methodology: The study used time series data from 1980 to 2018. The study used domestic debt and external debt to analyze how it influences Rwanda’s Gross Domestic Product (GDP). To achieve this objective, secondary data was collected from the National Bank of Rwanda and the debt office in Rwanda. The study employed multiple regression model to identify the relationship between the dependent variable (GDP) and the independent variables (domestic debt and external debt). The t-test was used to confirm the formulated hypotheses at the 5% significance level.
Findings: The study found out that a positive relationship exists between IMF Loan and Rwanda’s gross domestic product, while a negative relationship exists between domestic debts and Rwanda’s gross domestic product, which violates the Keynesian theory of public debt.
Conclusion: The study concludes that both domestic and external debt significantly affect economic growth in Rwanda.
Recommendation: The study recommend that developing countries should develop a good structure of Debt Management Office including a plan for capacity building in order to make its proper debt strategy analysis without external support. The study also recommend developing countries to reduce reliance on internal borrowing to reduce competition between citizens and the government which can reduced economic growth. Furthermore, the study recommend developing countries to account for public debts and ensure that such debts are solely acquired for economic purposes rather that political purposes.
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Phiri , Millicent Mubiana, and Borniface Namushi Tembo . "Statistics of Economic Growth in Developing Countries: A Case Study of Rwanda." Journal of Statistics and Mathematical Concepts 1, no. 1 (February 27, 2023): 55–65. http://dx.doi.org/10.58425/jsmc.v1i1.126.
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Purpose: This study sought to analyze how economic growth in developing countries is influenced by public borrowing referencing on Rwanda as a case study. Methodology: The study used time series data from 1980 to 2018. The study used domestic debt and external debt to analyze how it influences Rwanda’s Gross Domestic Product (GDP). To achieve this objective, secondary data was collected from the National Bank of Rwanda and the debt office in Rwanda. The study employed multiple regression model to identify the relationship between the dependent variable (GDP) and the independent variables (domestic debt and external debt). The t-test was used to confirm the formulated hypotheses at the 5% significance level. Findings: The study found out that a positive relationship exists between IMF Loan and Rwanda’s gross domestic product, while a negative relationship exists between domestic debts and Rwanda’s gross domestic product, which violates the Keynesian theory of public debt. Conclusion: The study concludes that both domestic and external debt significantly affect economic growth in Rwanda. Recommendation: The study recommend that developing countries should develop a good structure of Debt Management Office including a plan for capacity building in order to make its proper debt strategy analysis without external support. The study also recommend developing countries to reduce reliance on internal borrowing to reduce competition between citizens and the government which can reduced economic growth. Furthermore, the study recommend developing countries to account for public debts and ensure that such debts are solely acquired for economic purposes rather that political purposes.
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Seamster, Louise. "Black Debt, White Debt." Contexts 18, no. 1 (February 2019): 30–35. http://dx.doi.org/10.1177/1536504219830674.
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Racial discrimination shapes who feels debt as a crushing burden and who experiences debt as an opportunity. U.S. financial products and rules, and the ways they’re implemented, amplify this inequality along racial lines.
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HUSIEV, Artem. "State debt management in the context of Ukraine's economic development." Economics. Finances. Law, no. 5 (May 29, 2020): 21–25. http://dx.doi.org/10.37634/efp.2020.5.3.
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The paper explores the theoretical and methodological basis of the concept of public debt management. The relationship between the problem of public debt and economic development of the country has been revealed. The dynamics of Ukraine's public debt for the period 2010-2019 have been analyzed. The default as a means of state debt policy has been investigated and its main economic consequences are presented. The international experience of managing public debt on the example of Argentina has been analyzed. The economic essence of technical default has been defined and the concept of technical default as a priority direction of Ukraine's state debt policy in the current conditions has been proposed. Public debt is a set of State commitments to internal and external creditors. State debt Management provides for state creation of the concept of debt policy. In economic terms, the main task of debt management is to maintain the level of public debt on a moderate level. In Ukraine, the problem of state indebtedness is particularly relevant after 2014. However, the most acute this problem was at the beginning of 2020 with the beginning of the recession economy and raising the deficit of the State budget. There are three main strategies to address public debt: investing in the country's economic development and timely repayment of liabilities, default and technical default. The strategy of investing in the country's economic development envisages emission of money or additional involvement in order to stimulate economic development, as well as timely payment of debts and interests. This strategy is appropriate in terms of relatively small amounts of public debt. Defaulted involves declaring the state insolvency payment obligations to creditors. Defaulted in the short run means a rapid deterioration in the economic situation in the country, but under certain conditions, there may be positive consequences in the long run. The technical default means the state's inability to pay debts on a certain date if there is a possibility of their payment in the future. In Ukraine today, the optimal decision of the state debt policy is the proclamation of technical default to restructure debts and prevent aggravation of socio-economic crisis in the country.
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Abdlazez, Fahed Abdullah, Alhashmi Aboubaker Lasyoud, and Abdlmutaleb Boshanna. "The relationship between Malaysian public-listed firms’ corporate governance and their capital structure." Corporate Ownership and Control 16, no. 3 (2019): 98–112. http://dx.doi.org/10.22495/cocv16i3art9.
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The purpose of this paper is to investigate the relationship between corporate governance practices and capital structure of public-listed companies in Malaysia. Using the annual reports of 273 Malaysian public-listed firms on the Bursa Malaysia between 2008 and 2012, hierarchical multiple regression analysis was conducted. Corporate governance was measured by variables including board size, CEO duality, ownership structure, and board meeting. Capital structure was measured through four variables: debt-to-equity ratio, long-term debts, short-term debts, and debt ratio. The findings indicated that corporate governance practices have a positive influence on the debt-equity ratio, long-term debt, short-term debt and a debt ratio of capital structure. However, corporate governance practices’ influence on the debt ratio is found statistically insignificant. The findings also indicate that firm size moderates the relationship between corporate governance variables and capital structure. Empirically, these findings are useful for measuring and understanding financing decisions taken by the Malaysian public listed firms. It also offers insights to policymakers interested in enhancing the role of corporate governance in formulating management strategies.
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Khan, Kanwal Iqbal, Faisal Qadeer, Mário Nuno Mata, José Chavaglia Neto, Qurat ul An Sabir, Jéssica Nunes Martins, and José António Filipe. "Core Predictors of Debt Specialization: A New Insight to Optimal Capital Structure." Mathematics 9, no. 9 (April 27, 2021): 975. http://dx.doi.org/10.3390/math9090975.
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Debt structure composition is an essential topic of discussion for the management of capital structure decisions. Researchers made extensive efforts to understand the criteria for selecting debts, specifically, to know about the reasons for debt specialization, concealed in identifying its predictors. This question is essential not only for establishing the field of debt structure but also for the financial managers to design corporate financial strategy in a way that leads to attaining an optimal debt structure. Sophisticated financial modeling is applied to identify the core predictors of debt specialization, influencing the strategic choices of optimal debt structure to address this issue. Data were collected from 419 non-financial companies listed at the Karachi Stock Exchange from 2009 to 2015. This study has validated debt specialization by showing that short-term debts maintain their position over the years and remain the most popular type of loan among Pakistani firms. Further, it provides a comprehensive view of the cross-sectional differences among the firms involved in debt specialization by applying a holistic approach. Results show that small, growing, dividend-paying companies, having high expense and risk ratios, followed the debt specialization strategy. This strategy enables firms to reduce their agency conflicts, transaction costs, information asymmetry, risk management and building up their good market reputation. Conclusively, we have identified the gross profit margin, long-term debt to asset ratio, firm size, age, asset tangibility, and long-term industry debt to asset ratio as reliable and core predictors of debt specialization for sustainable business growth.
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Dave, Brij Behari. "The relationship between the Debt-to-GDP ratio and the GDP in developed (US, Japan), developing countries (of Asia and Europe) and African sub-saharan countries with emphasis on Indian scenario: A comparative study." Journal of Management Research and Analysis 11, no. 2 (May 15, 2024): 131–39. http://dx.doi.org/10.18231/j.jmra.2024.022.
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There is no simple relationship between debt and growth […]. There are many factors that matter for a country’s growth and debt performance. Moreover, there is no single threshold for debt ratios that can delineate the “bad” from the “good”. (International Monetary Fund, 2012, p. 9)Gross Domestic Product (GDP) is often used as an indicator of the size of the economy and the debt-to-GDP ratio works as an indicator of the financial leverage for an economy. A low ratio points that an economy’s goods and services production is adequate to pay off its debts without letting further debts be incurred. The borrowing pattern of a nation and the election to opt to incur further debt depends on economic and geopolitical considerations which include recession, war, interest rates etc. On the other hand, a high ratio would imply that the economy is not producing sufficiently to pay off its debts. Just like any bank would be interested in providing a bigger amount of loan only when an individual makes more money; likewise, in an economy’s scenario, investors would be more interested in taking on a country’s debt if it could produce more. And if at any time investors happen to worry about the repayment, and then they start to ask for higher interest rate returns to secure themselves against the risk of default. This way, it increases the cost of debt and the economy might fall into the trap of debt crisis.This paper investigates the impact of India's public debt on its economic growth through an econometric analysis using data from the Reserve Bank of India, the International Monetary Funds, and the World Development Indicators for the period 1989-2014. The data is regressed in basic time series analysis taking into account the different variables that influence economic growth. The regression results show an inverted U-shape relationship between the public debt to GDP and its square. The results illustrate the theoretical findings of Reinhart and Rogoff's (2010) changing relationship between real GDP growth and government debt based on a debt threshold.
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Astore, Marianna, and Michele Fratianni. "‘We can't pay’: how Italy dealt with war debts after World War I." Financial History Review 26, no. 2 (March 14, 2019): 197–222. http://dx.doi.org/10.1017/s0968565019000039.
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The article deals with Italian inter-war debts against the background of the contentious international issue of war reparations that many Allied nations wanted to link to war debt repayments. Italy, having first achieved an extremely large haircut by restructuring US and UK debts in 1925-6, defaulted in 1934, after the Lausanne conference of 1932 failed to deliver war debt forgiveness. We construct a new series of Italian foreign debt from 1925 to 1934 that is consistent with the unfolding of relevant historical events. Starting in 1926, our values are much lower than the currently available foreign debt series. The reason is that the current series do not take into account the large haircut that Finance Minister Volpi extracted from the London debt accord of 1926. Then, beginning in 1932, the values of our series exceed the currently available series because we date the formal Italian exit of the US war debt to 1934, whereas the current series dates it to 1932, at Lausanne.
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Ismail, Nurizal, and Baiq Rosmala Dewi. "Maqasid Shariahs View and its Solution on Foreign Debt in Indonesia." Global Review of Islamic Economics and Business 1, no. 3 (May 5, 2015): 229. http://dx.doi.org/10.14421/grieb.2014.013-06.
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This study entitled Maqasid Shariahs View and Its Solution on Foreign Debt in Indonesia, aims to know the concept of debt from Islamic perspective and to analyze current issues foreign debt in Indonesia. Since economic crisis happened in European countries,Indonesia needs to be more careful in considering the impacts of the crisis. One of the causes was because of the high level of interest of the debts. It made most of crisis happened in many countries hard to pay back their debts. Therefore, it is needed to know how Islamic principles see the concept of debt and give the solution to the problem of debt by using Maqasid's approach. It can give comprehensive solution to the debt because it covers five dimensions: religion, self, intellect, family and wealth, which are very important in human life to attain the happiness and welfare on earth. The study will conclude with some suggestions for futureresearch.
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Le, Thai Hong, and Lan Trinh Thi Phan. "Examining the Non-Linear Impact of External Debt on Economic Convergence." Journal of Economic Integration 37, no. 3 (September 15, 2022): 377–422. http://dx.doi.org/10.11130/jei.2022.37.3.377.
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This article investigates the impact of external debt on economic convergence in 201 economies from 1990 to 2020. Panel data collected from the fiscal space database of the World Bank are analyzed using the conditional beta convergence framework. Results show that external debt negatively affects growth and there is no evidence to support the non-linear association. However, external debt influences the convergence speed in an inverted-U-shaped fashion. The economic convergence speeds up as the level of indebtedness increases to a threshold above which the convergence slows down as the level of foreign debts continues to increase. We also disaggregate external debt into its six sub-components and discover the non-linear effects of private debts and debts denominated in domestic currency on the convergence process.
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Afanasiev, Mst, and I. Krivogov. "Management of Equation of the Federal Budget: Foreign Debt to Russia." Voprosy Ekonomiki, no. 4 (April 20, 2005): 4–22. http://dx.doi.org/10.32609/0042-8736-2005-4-4-22.
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The quality of state budget planning and implementation process is directly connected with issues of management of foreign state debt and foreign financial assets. The article analyzes legal regulation of foreign debt management issues in Russia, the structure of its public debt and debt of foreign states to Russia. Possible schemes of debt restructuring including write-off, buy-back, several types of conversion and securitization are described. Principles of foreign debt settlement and Russia's participation in the Paris Club are presented. The article also deals with practical problems of settlement of foreign debts owed to Russia.
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Dube, Zenzo Lusaba, and Cynthia Mapfudza. "Debt sustainability in fragile economies: the case of zimbabwe." Journal of Management and Science 10, no. 3 (September 30, 2020): 29–32. http://dx.doi.org/10.26524/jms.10.10.
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Zimbabwe’s efforts to reduce domestic and external debt to lower levels remain futile. It continues to grow. In December 2018 domestic debt stood at 98% of GDP, external debt at 70%. It has accelerated the re-engagement with the World Bank, IMF, AfDB and EIB and bi-lateral creditors. The study sought to analyse the sustainability of the growth in Zimbabwe’s debt. The objectives were namely to identify the key fiscal and macroeconomic variables that influence public debt dynamics in Zimbabwe; assess the effects of unsustainable debt on economic growth and development in Zimbabwe; and to explore strategies of managing debt sustainability. Data was collected through in-depth interviews and questionnaires. The study concluded that Zimbabwe’s debt is not sustainable due to non concessionary debts, limited productivity and weak institutional frameworks. Government should conduct a comprehensive debt audit to determine legitimate and illegitimate public debt, strengthen institutions and regulatory framework.
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Onar, Sezi Cevik, Basar Oztaysi, and Cengiz Kahraman. "A FUZZY RULE BASED INFERENCE SYSTEM FOR EARLY DEBT COLLECTION." Technological and Economic Development of Economy 24, no. 5 (October 1, 2018): 1845–65. http://dx.doi.org/10.3846/20294913.2016.1266409.
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Nowadays, unpaid invoices and unpaid credits are becoming more and more common. Large amounts of data regarding these debts are collected and stored by debt collection agencies. Early debt collection processes aim at collecting payments from creditors or debtors before the legal procedure starts. In order to be successful and be able to collect maximum debts, collection agencies need to use their human resources efficiently and communicate with the customers via the most convenient channel that leads to minimum costs. However, achieving these goals need processing, analyzing and evaluating customer data and inferring the right actions instantaneously. In this study, fuzzy inference based intelligent systems are used to empower early debt collection processes using the principles of data science. In the paper, an early debt collection system composed of three different Fuzzy Inference Systems (FIS), one for credit debts, one for credit card debts, and one for invoices, is developed. These systems use different inputs such as amount of loan, wealth of debtor, part history of debtor, amount of other debts, active customer since, credit limit, and criticality to determine the output possibility of repaying the debt. This output is later used to determine the most convenient communication channel and communication activity profile.
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Meltzer, H., P. Bebbington, T. Brugha, R. Jenkins, S. McManus, and M. S. Dennis. "Personal debt and suicidal ideation." Psychological Medicine 41, no. 4 (June 16, 2010): 771–78. http://dx.doi.org/10.1017/s0033291710001261.
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BackgroundPersonal debt is one of many factors associated with anxiety, depression and suicidality. The aim of this study was to examine the relationship between personal debt and suicidal ideation in the context of sociodemographic factors, employment and income, lifestyle behaviours, and recently experienced traumatic events.MethodInterviews were conducted with a random probability sample comprising 7461 respondents for the third national survey of psychiatric morbidity of adults in England. Fieldwork was carried out throughout 2007. The prevalence of suicidal thoughts in the past week, past year and lifetime was assessed and current sources of debt were recorded.ResultsIn 2007, 4.3% of adults in England had thought about taking their own life in the past 12 months, ranging from 1.8% of men aged ⩾55 years to 7.0% of women aged 35–54 years. Those in debt were twice as likely to think about suicide after controlling for sociodemographic, economic, social and lifestyle factors. Difficulty in making hire purchase or mail order repayments and paying off credit card debt, in addition to housing-related debt (rent and mortgage arrears), was strongly associated with suicidal thoughts. Feelings of hopelessness partially mediated the relationship between debt and suicidal ideation.ConclusionsThe number of debts, source of the debt and reasons for debt are key correlates of suicidal ideation. Individuals experiencing difficulties in repaying their debts because they are unemployed or have had a relationship breakdown or have heavy caring responsibilities may require psychiatric evaluation in addition to debt counselling.
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Pratama, Rahmat Bakhtiar, Hendra Djaja, Tri Susilaningsih, and Moh Fahrial Amrullah. "Alternatif, Penyelesaian Sengketa Utang Piutang Berbasis Aplikasi Online." Bhirawa Law Journal 1, no. 1 (May 1, 2020): 9–20. http://dx.doi.org/10.26905/blj.v1i1.5277.
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Debt receivables are based on an agreement, an agreement on receivables is included in the principal agreement. In the event of a process of debt receivable agreement made by the creditor and debtor. debtor basically based on trust between the creditor and the debtor, but a lot of debt occurs using additional agreements or assessors that govern collateral, accounts receivable debtusing collateral can vary, collateral for movable or immovable objects, tangible movable objects or intangible. The phenomenon that is happening right now is that there are accounts receivable debts where the lenders and debt recipients have never met, these debts use online applications or commonly referred to as online applications and some call it the term fintech which stands for financial technology. This debt continues to use the agreement, and the agreementshould still comply with the rules and regulations which are basically regulated in article 1313 BW, and 1320 BW. Problems occur if one of the parties in the debt agreement is broken or promised to commit an act against the law, disputes that occur in the event of the debt can be resolved by resolving disputes outside the court. Settlement of disputes outside the court can bean alternative to problems that occur in the debt and credit activities using online applications.
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Alshbib, Duraid K. "The Contemporary Concept of Odious Debts: Iraq’s Debts as a Model." International Journal of Economics and Finance 15, no. 10 (September 10, 2023): 44. http://dx.doi.org/10.5539/ijef.v15n10p44.
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Iraqi loans stood out because of their unique characteristics. The international blockade in 1991, the occupation in 2003, and the actions of puppet administrations were among the many events that contributed to this debt, with the first two being the most significant. and corruption with many faces. Due to these policies, Iraq is currently undergoing debt restructuring under the supervision and guidelines of the IMF. The goal of the research was to examine the causes of the increase in Iraqi debt following the invasion in 2003. The study discovered that even in the case of a revenue surplus, Iraqi governments continued to construct annual budgets with deficits that are financed by debt. It caused Iraq’s debts to grow and accumulate. Debt has grown to be a significant issue for the Iraqi economy and financial system. Iraqi debts are viewed negatively due to their impact on the welfare of the Iraqi people. According to the international doctrine of odious debts, Iraq has the right not to pay these payments.
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Xiao, Jing Jian, Chengyang Yan, Piotr Bialowolski, and Nilton Porto. "Consumer debt holding, income and happiness: evidence from China." International Journal of Bank Marketing 39, no. 5 (March 25, 2021): 789–809. http://dx.doi.org/10.1108/ijbm-08-2020-0422.
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PurposeThe relationship between debt and happiness is an emerging research topic with significant implications for both theory and practice in economics and business. In China, where the consumer credit market is at an early stage of development, the topic remains under-investigated and the evidence on the debt–well-being link is scarce. The purpose of this study is to examine the association between debt holding and happiness and the moderating role of income in it.Design/methodology/approachData used in the study were from three waves (2013, 2015 and 2017) of the China Household Finance Survey. Fixed-effect regressions on panel data were used for data analyses.FindingsThe results show that any type of debt holding is negatively associated with happiness. Among seven specific types of debts, four types show negative associations with happiness, which in the order from higher to lower associations, are medical, education, other and housing debt. In addition, negative associations between debt holding and happiness vary among income groups. The results suggest that any debt holding potentially decreases happiness for low- and middle-income consumers only. In addition, holdings of three specific types of debts (medical, education and housing debt) may decrease happiness for both low- and middle-income consumers, and holding two types of debts (business and other debt) may decrease happiness for middle-income consumers only.Research limitations/implicationsData used in this study originate from one country only. It limits the generalizability of findings to other countries with different institutional backgrounds and different socio-economic characteristics of populations. The results have implications for researchers who study consumer debt behavior and business practitioners who do businesses with Chinese companies and consumers.Practical implicationsChina is an emerging economy that is at the early stage of credit market development. The results of this study provide helpful information and insights for business practitioners to explore credit markets and serve credit product clients with various income levels in China.Social implicationsThe results of this study are informative for public policies. When introducing credit market-related policies, policymakers should pay attention to people's happiness and to differential welfare effects of holdings of different types of debts and among consumers with various levels of incomes.Originality/valueUnique contributions of this study include using data from the most recently available waves of the China Household Finance Survey (2013, 2015 and 2017) to study the associations between debt holding and happiness. In addition, the findings of this study enrich the literature of debt and happiness by adding evidence from China, the largest emerging economy in the world, which is helpful for future theory building and business practice on the relationship between debt holding and happiness.
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Dewi, Putri Maha, Ismawati Septiningsih, and Itok Dwi Kurniawan. "PERJANJIAN PERDAMAIAN UNTUK MENCIPTAKAN KONSEP CORPORTAE RESQUE DALAM RESTRUKTURISASI SEMI PUBLIK INSOLVENCY LAW DI ERA BISNIS MODERN." Jurnal Privat Law 11, no. 2 (November 24, 2023): 228. http://dx.doi.org/10.20961/privat.v11i2.65479.
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<p>Many companies face the threat of difficulty paying their debts to their creditors. There are many reasons the debtor has not paid off the debt, including being unable to pay off the debt that has been given at all, the debt that has been paid is still insufficient for the debt bill, being late in paying the debt, or paying the debt but not in accordance with what has been agreed. The reconciliation plan in the PKPU contains one of which is the debtor's plan to restructure his debts in accordance with the principle of business continuity, which most often is rescheduling, regulated in Article 265 of Law Number 37 of 2004 concerning Bankruptcy. The parties are free to determine the content of the peace plan, the freedom of the content of this peace plan is known as the principle of freedom of contract. The peace agreement which has been ratified by the court, then the reconciliation has binding legal force for the Debtor and the Creditors.</p>
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Feige, Sarah, and Jeffery Yen. "The making of financial subjects: A phenomenological study of student debt." Theory & Psychology 31, no. 4 (March 17, 2021): 611–31. http://dx.doi.org/10.1177/09593543211002262.
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While public commentators herald the arrival of the Canadian “student debt crisis,” psychological research into postsecondary student debt proliferates. This study explored the ways in which indebted students themselves understand the meanings and implications of student debt in their own lives, by means of semistructured interviews with nine indebted university students. A hermeneutic phenomenological approach to analysis yielded six themes: indebted by necessity; haunted by distressing thoughts and feelings about debts; living under the pressure to repay debts; living a constrained life; feeling alienated from others; and uncertainty about the meaning of university education. Findings suggest that student debt is characterized by the experience of feeling unable to “live one’s life,” and of looking toward a fragile future after university. By grounding the psychological experience of debt in the socially embedded, historical realities of students’ everyday lives, this work suggests implications for critical psychological understandings of financial subjectivation.
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Jude, Okonkwo Jisike, Anachedo Chima Kenneth, Okoye Nonso John, and Ezeaku Chisom. "Sustainability of External Debt on Economic Growth: Econometric Evidence from Nigeria." Global Academic Journal of Economics and Business 4, no. 2 (April 4, 2022): 33–41. http://dx.doi.org/10.36348/gajeb.2022.v04i02.001.
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External debt sustainability includes external debt stock, external debt service and external debt to export ratio while gross domestic product is used as a proxy for economic growth. This study adopted the descriptive ex-post facto research design and the time series data on the variables were gotten from the CBN statistical bulletin (2020) and the Nigerian Bureau of Statistics (2018). The data were analyzed using the Granger Causality Test and the Ordinary Least Square regression analysis. The findings of the study revealed that external debt has positive and significant relationship with economic growth while external debt service and external debt to export ratio both has a negative relationship with economic growth. The results of the Granger Causality test revealed that unidirectional causality (effect) was found flowing from external debt to exports ratio and external debt to economic growth while there was no causality found between external debt service and economic growth in Nigeria. The study recommended that the monetary authorities should ensure that external debt incurred would ultimately result in economic growth by judiciously allocating these debts to sectors that boost output productivity and that external debt policies decisions should be founded on sustainability indicators such as external debt to export ratio, ensuring that debt is maintained below established thresholds.
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Serwadda, Isah. "The Effects of Capital Structure on Banks’ Performance, the Ugandan Perspective." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 67, no. 3 (2019): 853–68. http://dx.doi.org/10.11118/actaun201967030853.
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The paper aims to investigate the effects of capital structure on banks’ performance on Ugandan banks for a ten years period, 2006–2015 with a sample of 20 commercial banks. The study employs four performance indicators of return on equity, return on assets, net interest margin and cost to income ratio to determine bank performance. Panel regression models are used to determine the effects of capital structure on bank performance. Independent variables are sub‑divided into capital structure variables namely; long‑term debt to total assets, short‑term debt to total assets and total debt ratio and then control variables are bank size and tangibility of assets. Results portray that there is a positive relationship between capital structure variables and bank performance. It’s between long‑term debts, total debt with net interest margin. There is also a positive relationship between total debt and return on assets. It is still the same between total debt and returns on equity. However, there is a negative relationship between short‑term debt and return on assets. The results also signify a positive relationship between bank size and net interest margin. It is still the same between bank size and returns on equity plus return on assets. There is a negative relationship between the tangibility of assets and net interest margin. It is also the same with return on equity. The findings propose that profitable banks rely more on debt financing as their financing option. This is advanced by the fact that approximately 68 % of total assets are represented by short‑term debts for Uganda’s commercial banks. This further implies that Ugandan banks largely depend on short‑term debt financing for their business operations compared to long‑term debt. Hence the study recommends that executive banking management teams plus policymakers should design prudent financing decisions aimed at reducing overreliance on debts to yield optimal capital structure levels. This will enable banks to remain at the top of the profitability game competitively in the banking industry.
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Tomášková, Eva. "Control of State Debt in the Czech Republic." Białostockie Studia Prawnicze 28, no. 2 (June 1, 2023): 245–58. http://dx.doi.org/10.15290/bsp.2023.28.02.15.
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Abstract This article focuses on control of state debt in the Czech Republic. State debt contributes the most to the public debt. Although the Czech Republic is one of the countries with the smallest state debts in the European Union, it has also been the country whose debt has grown fastest year-on-year in the last two years. The aim of this article is to investigate the possibilities to improve control of state debt in the Czech Republic. It works with the hypothesis that control of state debt is problematic in the Czech Republic and needs some amendments related to state debt regulation. The article is divided into two parts. First, a theoretical overview of state debt is included, regulation de lege lata is summarized and the current situation relating to state debt during the Covid-19 pandemic is stressed. Second, research findings mentioned in the first part are analysed. By synthesizing these research findings, I suggest amendments de lege ferenda.
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Obravyt, Viktoriia, and Viktoriia Koilo. "Comparative analysis of internal and external national debt of Ukraine taking into account the impact factors." Public and Municipal Finance 6, no. 1 (April 5, 2017): 46–56. http://dx.doi.org/10.21511/pmf.06(1).2017.05.
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In this paper, scientific and methodological approaches as for interpreting the notion “national debt of the country” as a whole are systematized, the essence of “internal national debt” and “external national debt” in particular is clarified. Critical analysis of the state and dynamics of the national debt of Ukraine during 2006-2015 was performed. Dynamics of the extent of internal and external national debt of the country was studied and their comparative analysis was performed. Detailed structure of both internal part of the debt and its external part is presented. With the help of correlation analysis, strength of correlation and directions of influence of different types of debts on the national budget of Ukraine in 2006-2015 was determined.
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L., J. F. "RELATIONSHIP BETWEEN INDEBTEDNESS AND THE SPECIALTY CHOICES OF GRADUATING MEDICAL STUDENTS." Pediatrics 94, no. 1 (July 1, 1994): 40. http://dx.doi.org/10.1542/peds.94.1.40.
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Analysis of data from the 1992 GQ has shown that educational debt was not a factor significantly influencing most graduates' specialty choices . . . As a strong or major influence, debt affected the specialty choices of only 6.2% of the 1992 graduates who had decided on a specialty. However, for students with debts of $75,000 or more, debt became more important, having a strong or major influence on the choices of surgical (13.9%) and support (20.3%) specialties. Although the effects of debt on specialty choice were found to be small . . . it is disturbing to note that over 20% of medical school graduates have such levels of indebtedness. Length of residency training, as a factor affecting specialty choice, generally was a strong or major influence for only 9.0% of respondents. However, this number increased to 20.5% for respondents with debts of $75,000 or more who planned generalist specialty certification, suggesting that high debt turned students toward, as well as away from, the generalist specialties.
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Nurhaliza, Amalia, Abdul Rahman, and Danang Purwanto. "Analisis Penggunaan dan Dampak Layanan Utang Online Ilegal oleh Masyarakat di Surakarta." MUKADIMAH: Jurnal Pendidikan, Sejarah, dan Ilmu-ilmu Sosial 6, no. 2 (August 18, 2022): 188–96. http://dx.doi.org/10.30743/mkd.v6i2.5585.
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Globalization has provided an impact on the development of increasingly advanced technology, one of which is in the field of finance with the emergence of financial technology. There are four types of technology financial services, one of which is currently developing in Indonesia is online debt services. This study discusses the use and impact of illegal online debt services by the public. This research uses descriptive qualitative research methods with a case study approach. The data were collected by conducting interviews with six selected informants using side purposive techniques. The results showed that the reason for using online debt services to pay for children's schooling, business capital, meet daily living needs, and pay previous debts. The driving factors are easy terms, fast processes, no collateral, and difficulty obtaining debt in other formal financial institutions. The impact is mainly intimidative collection and misuse of personal data to collect debts accompanied by threats that interfere with the economic, social and psychological comfort of illegal online debt borrowers.
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Abdullah, Abdul Karim. "Debt and Economic Acitivity." ICR Journal 4, no. 3 (July 15, 2013): 407–22. http://dx.doi.org/10.52282/icr.v4i3.455.
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Many nations, rich and poor alike, are reeling under mountains of interest-based debt. What are the effects of large and growing debts on economic activity? It is widely believed that borrowing helps the economy to grow faster. However, a number of recent studies have shown that, beyond a certain threshold, large levels of debt in fact slow down economic activity rather than stimulate it. It appears that in some countries this threshold has already been passed. Others are coming dangerously close to it. Reduced or negative rate of growth makes it harder to repay existing debts. Social unrest has taken place in a number of countries as governments channel increasing amounts of limited tax revenues towards the repayment of debt with interest to creditors. A more effective way to respond to the debt crisis is to adopt bona fide Islamic financing. In such a system there is no room for earning interest income by lending. Active participation in the real sector is required. Participation in real sector activity is rewarded by incentives in the form of profits, rents, and wages.
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Krumer-Nevo, Michal, Anastasia Gorodzeisky, and Yuval Saar-Heiman. "Debt, poverty, and financial exclusion." Journal of Social Work 17, no. 5 (May 22, 2016): 511–30. http://dx.doi.org/10.1177/1468017316649330.
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Summary Over-indebtedness of impoverished households and its relevance to the social work profession have not received sufficient attention in the professional discourse. It is the intention of this article to put over-indebtedness on the professional agenda, to review the literature about it, and to present initial data from a study on over-indebtedness in Israel carried out with special attention to debtors’ coping with their debts. The research was conducted as a door-to-door survey in a neighborhood with low socio-economic characteristics and included questions about the nature of the debts, the strategies people use to cope with debts and the obstacles they face while doing so. Findings The research findings indicate a severe debt problem among the participants. Out of 142 interviewees, 61% had debt that was overdue and 27% of them did not have an active bank account – a significant parameter of financial exclusion. Moreover, the proliferation of debts per household, and the high level of debt-to-income ratio also indicate high risk for financial exclusion. Notwithstanding, the findings indicate that most debtors made active efforts in order to close their debts, using two distinct strategies, namely: trying to reach a payment arrangement with the creditor or paying off the debt by increasing their financial resources. Most debtors used the first strategy, although it was found as the less successful one. Applications The article discusses these findings in the framework of the concept of financial exclusion and proposes policy and direct interventions as well as further research on the topic.
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Tanko, Udisifan Michael, Akeem Adetunji SIYANBOLA, Paul Matudi Bako, and Olalere Victor DOTUN. "Capital Structure and Firm Financial Performance: Moderating Effect of Board Financial Literacy in Nigerian Listed Non-Financial Companies." Journal of Accounting Research, Organization and Economics 4, no. 1 (April 17, 2021): 48–66. http://dx.doi.org/10.24815/jaroe.v4i1.18322.
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Objective – The study examined the moderating effect of board financial literacy on the relationship between capital structure and firm financial performance of listed non-financial companies in Nigeria. Design/methodology – Capital structure was measured by long term debts to total assets, short term debts to total assets equity to total debt ratio and board financial literacy was measured by ratio of board members that have professional and academic qualification in accounting, finance and economics. Meanwhile financial performance was measured by return on assets. Secondary data was extracted from the sampled firms annual report and accounts and analyzed using Panel Least Square. Results – The study revealed a positive and significant relationship between long term debt and ROA. It also shows that board financial literacy moderate capital structure significantly and increase firm performance. The study recommended that the management of Nigerian listed non-financial firms should optimize the capital structure in order to increase the financial performance. They can do that through ensuring that their capital structure is optimal by using more of current debts and non-current debt than equity. The Board of Directors of Nigerian listed company should be concerned about the level of long term debt, short term debt and include members that are financially literate who will contribute in financing decision of firm in order make optimal capital structure for better financial performance. This is because the findings of this study revealed a positive significant moderating relationship between long term debt, short term debt and financial performance.
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Peschke, Karl-Heinz. "Debt Crisis and Debt Relief." Irish Theological Quarterly 70, no. 4 (December 2005): 355–61. http://dx.doi.org/10.1177/002114000507000404.
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