Dissertations / Theses: 'Debts'

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Sathe, Ommeed S. (Ommeed Sanjay). "Local debts, international authority : rating agencies' emergence in regulating subnational debt." Thesis, Massachusetts Institute of Technology, 2006. http://hdl.handle.net/1721.1/37469.

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Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2006.
Includes bibliographical references (p. 95-99).
This thesis explores the growth of subnational debt ("SND") and the different regulatory responses to this debt. It focuses on the recent emergence of credit rating agencies (e.g. Standard & Poor's, Moody's and Fitch) as an alternative regulatory mechanism, which has the potential to stabilize these markets, improve risk pricing, and alter traditional conceptions of local governance. The first chapter traces SND's long legacy of debt defaults, federal bailouts, and improperly priced risk; as well as the profound benefits that SND can provide to local governments, particularly as a means of resisting the siren song of privatization. Unfortunately, it finds that conventional strategies for regulating SND - including federal oversight, financial rules and market discipline - have not properly balanced these trade offs and have left lingering moral hazards, overly restricted debt markets, and a legacy of mispricing. The second chapter examines the emergence of debt rating agencies in Mexico as a possible alternative. It traces their growth, particularly the role of domestic and international agreements, their methodology, and their historic accuracy. It finds that they should improve debt pricing and obviate moral hazards when compared to existing regulatory interventions.
(cont.) However, these significant benefits come with profound implications on local governance and decentralization. The third chapter investigates rating agencies infringement on traditional local autonomy as well as the more subtle ways in which these bodies can actually improve local deliberation by enhancing transparency and formality. The thesis argues further that any restrictions are outweighed by the benefits from stabilizing SND markets and replacing more onerous regimes. The thesis also suggests that the agencies' view of governance actually fits in with broader international approaches and is part of a broader movement towards international local government law. The paper concludes by considering potential regulation to improve agencies' performance further.
by Ommeed S. Sathe.
M.C.P.

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Cavalcanti, Carlos Brandão. "Transferência de recursos ao exterior e substituição de dívida externa por dívida interna." Rio de Janeiro : [BNDES], Gabinete do Presidente, Departamento de Projetos de Comunicação, 1988. http://catalog.hathitrust.org/api/volumes/oclc/21118412.html.

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Sivakumar, Sivalingam. "Dancing on the edge : the dynamics of external debt in the United States, South Korea and Argentina." Title page, table of contents and preface only, 1987. http://web4.library.adelaide.edu.au/theses/09ARM/09arms624.pdf.

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Oosterlinck, Kim. "Sovereign debts in trouble times." Doctoral thesis, Universite Libre de Bruxelles, 2003. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/211300.

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Collette, Stephanie. "Sovereign bonds: odious debts and state succession." Doctoral thesis, Universite Libre de Bruxelles, 2012. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209718.

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Though sovereign debts are often viewed as risk-free assets, some extreme events may lead to the repudiation of these debts. A large literature has been devoted to the motivations of repayment and to the causes of default. The impact of wars, which may lead to the repudiation of sovereign debt, on sovereign bond prices has also been analyzed. However, the impact of other types of seldom occurring but dramatic events, which may lead to the repudiation of debts, on bond prices has been overlooked. My current research aims to analyze three of them: the repudiation of debts because of their alleged "odiousness", the introduction of common debt after a state's unification and the debt partition following the break-up of a country. Since the events under consideration don't happen frequently, the dissertation will rely on four historical examples: Cuba, Russia, Italy and Belgium. The time period considered is the 19th century. Based on a historical analysis and the set-up of an original database, this project determines the effects of these events on sovereign debt valorization, using an econometric approach.

The first part of the research estimates the risk premium required by investors to hold debts which could be denounced as odious. Bondholders could require a premium to compensate for the higher default risk due to the odious character of the debts. The paper quantifies the risk premium required by investors to hold debts which could be denounced as odious and it analyses the relation between the value of the government bond and extreme "odious debt" events. In order to identify if such a premium exists, I focus on a Cuban case study. Based on an original database of Cuban bonds, the paper reveals the existence of a risk premium of at least 200 basis points which penalises bonds issued by dictatorial regimes. The bond market "odious" shocks are provided by a Structural VAR analysis. In a second case study, my research analyses the Tsarist bonds of 1906 and the premium to hold despotic regime debt. The paper shows that the market required a premium despite the attempts made by the Russian government to present the loan as clean.

The second and third parts of my research look at the effects of state succession on the sovereign bonds market. They analyze respectively the two subsets of state succession: state unification and "country break-up". The second part of the dissertation provides an empirical study of sovereign debt integration and analyses the evolution of sovereign bond prices when several countries merge to become a "unified country" or when the probability of such an event exists. Based on an original database made of pre-unification and post-unification Italian bonds, the paper shows the impact of Italy's unification on the bonds. The analysis puts forward that prior to the unification in 1862, the bonds issued by the future parts of the kingdom reacted in an idiosyncratic way. Around the sovereign debt integration, the paper highlights a large risk increase for low-yield bonds. Using a break point analysis and a Dynamic Factor Model, the paper proves that until the late 1860's the financial market did not believe in Italy's Unification. The third part of my research analyzes the financial impact on state bonds of a country which faces a risk to break up. This paper provides an empirical analysis of the evolution of sovereign debt prices when a state breaks up, or when it faces such an event. Based on an original database of Dutch and Belgian bonds, this research shows the impact of Belgian independence in 1830 on the Belgium bonds. This article analyses two risk premiums which may affect the sovereign debt of a state: the first one is linked to the country break-up (or the probability that one may occur) and the second one is due to the instability experienced by the new country. This analysis puts forward a "country break-up" risk premium of 142 basis points. The role of the debt underwriter has also been highlighted in the case of Belgian independence. Financial markets required no "new country" risk premium for Belgian bonds which were underwritten by Rothschild, but the risk premium remained for the Belgian authorities. This was likely due to the role of Rothschild as underwriter whose reputation persuaded the market that the risk is low, but who charged a premium to the Belgian government for their services.

Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished

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De, Soyres Constance. "Three Essays on Sovereign Debts and Macroeconomics." Thesis, Toulouse 1, 2017. http://www.theses.fr/2017TOU10023.

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Ce travail de thèse est composé de trois chapitres unis par un même thème : l’étude des dettes souveraines avec une emphase particulière sur les recommandations de politiques publiques en vue de la résolution des crises de la dette. Dans le premier chapitre, j’étudie la maturité optimale des allègements de dette dans le cadre d’un modèle théorique de dettes souveraines. Le modèle que je construis est composé de trois acteurs principaux : un pays qui emprunte sur les marchés et peut décider de faire défaut sur sa dette, une autorité en charge des allègements de dette qui est affectée négativement en cas de défaut et peut choisir d’organiser un allègement de dette afin de l’éviter, et un marché compétitif et neutre au risque. Ces trois acteurs prennent leurs décisions en essayant d’anticiper les possibles évènements futurs ainsi que les réactions des autres acteurs à ces évènements. Ce modèle délivre un résultat original : l’organisation optimale d’un allègement de dette consiste à réduire la dette à long terme d’un pays et pas seulement celle à court terme. En effet, la diminution des remboursements futurs encourage un pays à honorer ses obligations courantes tout en évitant d’avoir à alléger la dette du pays à nouveau dans un futur proche. Dans le second chapitre, j’étudie la composition optimale d’un allègement de dette, en particulier entre une réduction de la dette privée et un transfert d’une institution comme le fonds monétaire international ou le mécanisme de stabilité européen au sein de la zone euro. A l’aide d’une nouvelle base de données composée des allègements de dette des vingt dernières années, je montre que les réductions de dettes privées ont tendance à discipliner la politique d’endettement des pays à l’inverse des transferts provenant d’institutions. En particulier, les taux d’intérêt sur les bons d’état souverain ont tendance à diminuer après les réductions de dettes privées, ce qui montre que les investisseurs incorporent moins de risque de défaut dans les prix des bons d’état. Je construis ensuite un modèle quantitatif de dettes souveraines dans lequel j’introduis une autorité qui organise des allègements de dette dès que le pays est au bord du défaut. Le principal résultat est que le hasard moral créé par ce mécanisme peut être atténué par l’introduction d’allègements de la dette privée, dans la mesure où ils sont incorporés dans le prix de la dette et découragent le pays d’emprunter de façon excessive. Cela montre que réduire les dettes privées en plus de transferts institutionnels est indispensable afin de discipliner la politique d’endettement du pays. Dans le dernier chapitre, j’étudie la performance des projections de dette réalisée au sein des analyses de soutenabilité de la dette pour les pays à bas revenus entre 2006 et 2016. Je montre que les projections ont tendance à être optimistes et relie ce biais à deux dimensions de la logique même dans laquelle sont construites ces projections : la règle fiscale du gouvernement ainsi que la relation entre investissement et croissance. En particulier, les projections ont tendance à surestimer la réduction du déficit primaire qui suit une augmentation de dette publique, et à surestimer l’augmentation de la croissance suivant une augmentation de l’investissement
This thesis focuses on sovereign debts with a particular emphasis on policy recommendations relative to debt crisis resolution. It is composed of three chapters.In the first chapter, I study the optimal maturity composition of a bailout within an original theoretical sovereign debt model. The framework I develop is composed of three main actors: a country that borrows from the market and cannot commit to repay its debt, a Bailout Authority who is negatively impacted when the country decides to default and can choose to bail it out in order to prevent negative spillovers, and the market which is assumed to be risk-neutral and competitive. Those actors are forward-looking and make policy decisions according to their expectations about future events and others’ reactions. It gives rise to novel insights, including the fact that an optimal bailout should reduce the country’s long-term debt as opposed to short maturities. Indeed, decreasing future debt payments encourages the country to honor its current debt obligations while preventing a costly situation of repeated bailouts in the future. In the second chapter, I investigate the optimal composition of a debt relief, and in particular the tradeoff between a haircut on private debt and a transfer from an Official Institution such as the International Monetary Fund or the European Stability Mechanism in the Eurozone. Building a novel database with the debt reliefs of the last twenty years, I find that haircuts tend to discipline the countries’ borrowing behavior as opposed to transfers. More precisely, sovereign bond spreads tend to significantly decrease following events of haircuts, suggesting that investors incorporate less default risk in sovereign bond prices. I then make sense of this observation in a structural quantitative sovereign debt model where I incorporate a Debt Relief Authority who organizes a debt relief whenever the sovereign is on the verge of a default. I show that the moral hazard problem created by such a mechanism can be mitigated by using haircuts, since they are incorporated into the debt price and hence deter the sovereign from overborrowing. It indicates that the inclusion of a dose of haircuts in debt relief packages is essential to discipline the country’s borrowing behavior. In the final chapter, I analyze the performance of debt projections realized in the IMF Debt Sustainability Analyses for Low-Income countries between 2006 and 2016. I find evidence of systematic optimism in debt projections and relate this bias to two dimensions of their internal logic: the government’s fiscal rule and the growth-investment relationship. In particular, projections tend to overestimate the reduction of the primary budget deficit following any increase in public debt, as well as to overestimate the increase in growth following any increase in investment

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Mupunga, Nebson. "Assessing the optimal size and composition of public debt in Zimbabwe." Thesis, Nelson Mandela Metropolitan University, 2014. http://hdl.handle.net/10948/8977.

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This study provides an analysis of public debt dynamics with a view to assess the optimal size and composition of public debt in Zimbabwe that is consistent with maintaining public debt at sustainable levels. The analysis was performed by applying public debt data for Zimbabwe over the period 1980 to 2012. Robustness checks were conducted, using data for selected low income countries in the sub-Saharan Africa. The study was motivated by the public debt management concerns caused by the 2008/09 global financial crisis and the European sovereign debt crisis as well as the external public debt overhang experienced by Zimbabwe since the year 2000. The findings of the study complement existing research findings and information on public debt management of the International Monetary Fund (IMF) and other researchers. The major contribution of this thesis is the determination of optimal public debt thresholds for Zimbabwe. The optimal public debt thresholds were estimated from a joint analysis of the macroeconomic variables that affect public debt and the reaction of fiscal policy to changes in debt. The classical linear regression and Bayesian Vector Auto Regression (BVAR) models were applied to examine the drivers of debt accumulation and to assess the sensitivity of debt to macroeconomic shocks. The information from the drivers of public debt accumulation, together with the fiscal response mechanism was used to calibrate the long-run stable (optimal) public debt target. The optimal public debt threshold was also determined by assessing the link between public debt and economic growth. This assessment was carried out to establish the tipping point beyond which public debt adversely affects growth. Such a tipping point provides valuable information on the optimal size of public debt. The study also applied simulation approaches to determine the optimal composition of public debt. The results show that public debt dynamics in Zimbabwe largely comprised extensive stock flow adjustments emanating from extra budgetary expenditures to meet social and political related needs. The results of the assessment on the sensitivity of public debt to macroeconomic shocks show that Zimbabwe‟s public debt has been more vulnerable to economic growth, exchange rate and interest rate shocks. The significant influence of these variables highlights the role of automatic debt dynamics in public debt management. The results from the fiscal reaction function show that government has been responding positively to increases in public debt. This analysis also shows that government‟s policies are a-cyclical; as explained by the negative and insignificant response of the primary balance to the output gap. The dynamic stochastic simulation analysis suggests that Zimbabwe‟s public debt could follow an array of potential paths depending on the policy stance implemented by government. The simulated risk to public debt dynamics is larger, with an upper bound public debt to GDP ratio of 100 per cent and a lower bound public debt ratio of 32 per cent. The simulated lower bound provides a measure of a natural debt limit, which the government could adopt without fearing the risk of default. The results suggest that the main risks to public debt sustainability lie in growth shocks, whose volatility have been high for the period under study. The results from the analysis of growth and debt confirm the existence of an optimal growth maximising public debt ratio depicted by an inverted U-shaped relationship between public debt and economic growth. The optimal size of public debt was found to be at public debt levels of between 45-50 per cent of GDP. This means that higher public debt ratios have been associated with lower economic growth rates at debt levels above 50 per cent of GDP. The results are consistent with empirical findings for low income countries which suggest the existence of a debt laffer-curve. The results from an analysis of an optimal composition of public debt show a trade-off between a debt composition with more external concessional debt and one with more domestic debt. While a composition with more concessional borrowing was found to be desirable from a cost perspective, it proved to be less desirable from a risk perspective after taking into consideration stock flow adjustments due to changes in cross exchange rates. The findings of the study point to a need for the Zimbabwean government to swiftly respond to increases in public debt to control the swings in debt dynamics caused by macroeconomic shocks. The inverted U-shaped relationship between debt and growth suggests that government borrowing must be done in a way that simultaneously entrenches debt sustainability and ensures sustained economic growth rates in the medium to long-term. The study also highlights the need for counter-cyclical macroeconomic policies to avoid explosive debt dynamics emanating from frequent changes in the business cycle, and to minimise the interest/growth rate differential to ensure sustainable public debt dynamics. There is also a need for authorities to ensure a true balance between external and domestic borrowing to minimise the volatility in debt service costs caused by macroeconomic shocks. Generally, the findings from this study can assist in informing the policy agenda to address the imperatives of debt resolution, fiscal consolidation and economic growth acceleration.

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So, Wang-ming. "An analysis of mortgage prepayment in Hong Kong /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B2084234X.

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Saha, Parumita. "Developing a Framework to measure Enterprise Architecture Debts." Thesis, KTH, Skolan för elektroteknik och datavetenskap (EECS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-289528.

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Technical debt is used to describe the changing or to maintain a system due to expedient shortcuts done during its development. In the context of the software development industry, technical debt is regarded as a critical issue in terms of the negative consequences such as increased software development cost, low product quality, decreased maintainability, and slowed progress to the long-term success of developing software. Code Smells are well informed in the domain of Technical Debt. They indicate to the common bad practices that may impair the future quality of the software system. By identifying those Code Smells, it is possible to give an improved solution or make the developers aware of a possible deficiency. I explore the premise that technical debt within the enterprise should be viewed as a tool. Extensible and Appropriate tools can check the Code Smells automatically and improve the quality assessment accordingly. However, in the field of Enterprise Architecture(EA), common bad habits in EA can be called EA Smells. EA Smells itself can be a component of EA Debt. Enterprise Architecture Debt can be defined as such a metric that depicts the deviation of the currently present state of an enterprise from a hypothetical ideal state.In this thesis, we introduce SmellCull as an extensible tool for capturing, tracking and managing Enterprise Architecture debt in the EA field. SmellCull allows measuring different kinds of Enterprise Architecture debts for EA Model. SmellCull is extensible since different types of Model can be integrated as input into the tool environment and provides developers with a lightweight tool to capture EA debt and make it easier to understand them indicating corresponding parts in the implementation. The tool is used to create propagation paths for the EA debt. This allows for an up-to-date and accurate presentation of EA debt to be upheld, which enables developer conducted implementation-level micromanagement as well as higher-level debt management.Since the tool is sophisticated enough, automated detection supports the design process and ongoing change of EAS(Enterprise Architecture System). This includes the strategic development of EAS with the corresponding roadmaps, as well as design assurance and performance monitoring to assess the quality of data in EA repositories and the compliance with certain standards defined by EA Smells. Due to the limited scope of master thesis, the tool will identify a few number of EA debt. At the end, some future work suggestions in the context of identifying more salable Enterprise Architecture Debts with this tool are given.
Teknisk skuld dvs dålig eller kortsiktig programutveckling som belastning på IT-system måste förr eller senare återbetalas. I industrin betraktas teknisk skuld som en kritisk fråga när det gäller de negativa konsekvenserna som ökad mjukvaruutvecklingskostnad, låg produktkvalitet, minska underhåll och långsammare framsteg till den långsiktiga framgången med att utveckla programvara. Dålig kodkvalitet “code smell” är vanligt förekommande teknisk skuld. Det uppkommer i vanliga dåliga metoder “anti-patterns” som försämrar programvarans framtida kvalitet. För att kunna identifiera bristande kodkvalitet är det möjligt att skapa en förbättrad lösning eller göra utvecklare medvetna om de möjliga bristerna. Jag undersöker förutsättningarna att en sådan teknisk skuld i företag bör undersökas med en programvara. Utbyggbara och ändamålsenliga programvaror kan analysera källkod och hitta var kvaliteten behöver förbättras. Företagens tekniska skuld kan definieras som ett mått som visar avvikelsen från ett hypotetiskt idealtillstånd genom att jämföra det aktuella tillståndet med praktiska rekommendationer “best practice”. I detta examensarbete introducerar jag SmellCull som ett utbyggbart verktyg för att hitta, spåra och hantera bristfällig kodkvalitet inom företagsarkitektur (EA). SmellCull tillåter mätning av olika typer av tekiska skulder för EA modellen. SmellCull är utbyggbart genom att olika typer av datamodeller kan integreras som indata i miljön, och det ger utveck-lare ett lätt verktyg för att hantera teknisk skuld i programmeringsprojekt och hjälpa projektdeltagarna i programmeringsprojekt att förstå vad orsakar brister i kodkvalitet. Eftersom verktyget är tillräckligt sofistikerat finns det automatiserad spårning, designprocess och kontinuerlig förbättring av EAS (Enterprise Architecture System). Detta inkluderar strategisk utveckling av EAS med motsvarande färdplan, samt konstruktionssäkerhet och prestandäovervakning för att bedöma kvaliteten på data i EA förvar och efterlevnaden av vissa standarder som definieras av EA code smell detection. På grund av den begränsade omfattningen av examensarbetet kommer verktyget att identifiera några få EA skuld. I slutet, några framtida arbetsförslag i samband med identifiering mer säljbara företagsarkitekturskulder med detta verktyg ges.

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Seroka, Ngwanatau. "The Influence of Financing Structure on Performance of MSMEs in South African: "The Valley of Death"." Master's thesis, University of Cape Town, 2018. http://hdl.handle.net/11427/28374.

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Previous researchers, especially on large enterprises, have revealed that debt financing structure influences enterprise performance. Though the issue has been extensively researched, micro, small, and medium-sized enterprises (MSMEs) have traditionally been operating differently as compared to large enterprises in terms of their financial decisions, ownership and management style, and behaviour. Therefore, this study will explore the gaps encountered by all MSMEs to grow their businesses. These include forms and type of industry, firm size, asset tangibility, and a firm’s current assets in relation to its current liabilities and profitability level. The study examines the influence of financing structures on performance of micro, small and medium-sized enterprises (MSMEs) in South Africa. The ordinary least squares (OLS) technique of measurement is applied to examine the effects of financing structure on performance across various industrial sectors in the years 2013, 2014 and 2015. The findings in this study indicate an increase in the use of leverage to drive the influence of total debt on performance in all industrial sectors of MSMEs in South Africa. From the cross-sectional regression analysis, the results show that financing structure has a negative effect on the profitability of MSMEs, although not absolutely. The findings show that the size of the enterprise, asset tangibility, and the ratio of current assets to current liabilities are the most influential of borrowing decisions in total debt, short-term debt, and long-term debt. A significantly negative effect is observed for long-term debt, while short-term debt (STDR) exhibits a significantly positive effect. Thus the influence on MSMEs’ leverage on performance is driven by the usage of short-term debt. The variables of size of the firm, and ratio of current assets to current liabilities, do not have the same effect in all debt levels; the significance is substantially higher for long-term debt than for total debt and short-term debt. On the other hand, our empirical results suggested that transactional costs, and an asymmetric information problem in smaller firms, may lead to a mainly negative influence on size and total debt. The asset structure on profitability observed across the years showed mixed experiences. The ratio of current assets to current liabilities was found to be positive and significant on long-term debt and short-term debt leverage.

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Ng, Siu-fai. "The early warning system of debt servicing difficulties of a country, by using statistical method to evaluate economic, social and political factors /." [Hong Kong : University of Hong Kong], 1985. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12317706.

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ERCE, DOMINGUEZ Aitor. "Sovereign debt crises : on causes and remedies." Doctoral thesis, European University Institute, 2007. http://hdl.handle.net/1814/7006.

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Defence date: 9 February 2007
Examining Board: Prof. Fernando Broner (Universitat Pompeu Fabra) ; Prof. Giancarlo Corsetti (EUI) ; Prof. Karl Schlag (EUI) ; Prof. Xavier Vives, (IESE Buciness School Barcelona)
PDF of thesis uploaded from the Library digital archive of EUI PhD theses
no abstract available

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Tsang, Yuk-fong Elly. "The employment of debt securities in Hong Kong : a study of the market's past developments, recent growths and future prospects /." [Hong Kong : University of Hong Kong], 1986. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12325922.

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Olivares, Marcos Gustavo Adolfo. "The legal practice of the recovery of state external debts /." Genève : Institut universitaire de hautes études internationales, 2005. http://www.unige.ch/cyberdocuments/theses2003/OlivaresG/these.pdf.

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鄭會欣 and Hwei-shing Cheng. "Foreign debt policy of the Nationalist government, 1927-37." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1991. http://hub.hku.hk/bib/B31210193.

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Yoon, Yeo Hun. "Stabilization program in a small semi-open economy with foreign debts and controlled interest rates." Connect to resource, 1987. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1262692922.

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Claydon, Jane Elizabeth. "What's the charge? : perceptions of blame and responsibility for credit card debt." Thesis, University of Sussex, 2014. http://sro.sussex.ac.uk/id/eprint/48302/.

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The purpose of the research conducted for this thesis was to investigate perceptions of responsibility and blame for rising levels of consumer debt in the UK, focusing on two key stakeholder groups often associated with the issues relating to consumer debt: individual borrowers and consumer credit lenders. Research was conducted with these stakeholders; debtors represented the individual borrowers and debt collectors from a large multi national credit card company represented lenders. Three central research questions lay at the heart of the research: what are the respondents' perceptions of why and how debtors use consumer credit; how are debtors perceived and treated by their creditors (i.e. through contact with debt collectors); what are the respondents' perceptions of who is to blame for consumer debt? A mixed method approach was adopted, using primarily qualitative research methods in accordance with the interpretivist approach of the research. An online survey and in-depth interviews were adopted for the debtor respondents and focus groups and in-depth interviews were adopted for the debt collector respondents. The debtor respondents were recruited from the National Debt Line website, the biggest online money advice website in the UK, by posting an online survey on the site. The debt collector respondents were recruited from the shared employer of the respondents and the researcher, a large multi national credit card company. In answer to the research questions, the research revealed that, firstly, the majority of debtor respondents perceived that their consumer credit use was to supplement their low income, which contradicted previous stereotypes of debtors as reckless spendthrifts and, instead, proposed they are agentic rational decision makers. Secondly, debtors were negatively perceived and treated by their creditors (debt collectors) in that they were stigmatised and labelled as deviant. This occurred during the debtors' social interaction with debt collectors during the debt collection process. In line with the labelling theory of deviance, this societal reaction then led to self-labelling by the debtors, who expressed feelings of shame. Thirdly, therefore, both the debtors and debt collectors primarily blamed the debtor stakeholder group as responsible for increasing levels of consumer debt, although the debtors also placed some of the blame on the creditors for acting unethically in their lending practices, namely by lending irresponsibly to debtors without an accurate assessment of the affordability of the loan. This thesis makes an original contribution to sociological knowledge of the ways in which blame and responsibility for increasing levels of debt is perceived by different societal groups. A key part of the thesis' originality exists in its utilisation of concepts drawn from different strands of sociological theory to explore perceptions of debt, in particular the sociology of deviance and symbolic interactionism, such as labeling, stigma and shame.

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Zítková, Jindra. "Problematika vymáhání pohledávek podle právního řádu České republiky." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-77757.

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The thesis is focused on questions of natural persons' recovery of debts according to the legal order of the Czech Republic. The purpose of the thesis was to provide creditors with comprehensive information and insight into the questions of recovery of natural persons' debts according to the legal order of the Czech Republic and to draw creditor's attention to legal possibilities when recovering debts. The outcome of the thesis is creation of diagram that can help creditors to better orientation. Diagram shows separate steps creditors can undergo when recovering debts. Particular possibilities when recovering debts are outlined, practical instruction and remarks are added, economic contexts are analysed, available statistics and development trends are analysed and proposals de lege ferenda are presented.

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吳少輝 and Siu-fai Ng. "The early warning system of debt servicing difficulties of a country, by using statistical method to evaluate economic, social and politicalfactors." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1985. http://hub.hku.hk/bib/B31263343.

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McDermott, Dean Patrick. "A description of public debt types and the issuance of municipal bonds." Instructions for remote access. Click here to access this electronic resource. Access available to Kutztown University faculty, staff, and students only, 1991. http://www.kutztown.edu/library/services/remote_access.asp.

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Shih, Yen. "A model of public debt determination : dynamic implications and empirical evidence /." Connect to resource, 1987. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1262882486.

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Haug, Alfred A. ""Ricardian equivalence or debt illusion : empirical studies"." The Ohio State University, 1987. http://rave.ohiolink.edu/etdc/view?acc_num=osu1267621324.

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Eyigungor, Burcu. "Essays in dynamic economics." Diss., Restricted to subscribing institutions, 2007. http://proquest.umi.com/pqdweb?did=1432786291&sid=1&Fmt=2&clientId=1564&RQT=309&VName=PQD.

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Naidu, Aveshni. "A critical analysis of the deductibility of bad debts for income tax purposes." Thesis, Rhodes University, 2018. http://hdl.handle.net/10962/61712.

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The objective of this thesis was to critically analyse the deductibility of bad debts for income tax purposes. This was achieved by applying a doctrinal research methodology to the data, which consisted of local and international legislation and case law, as well as other relevant writings. In setting out to achieve this primary objective, this thesis addressed certain subsidiary goals. The requirements of section 11 (i) of the South African Income Tax Act that provides for the deduction of bad debts were examined with reference to local case law, together with case law from selected international jurisdictions. To clarify the requirement of section 11 (i) that a debt must have become bad, this thesis set out to ascribe a meaning to the term “bad debt” which is currently not defined in the South African Income Tax Act and to ascertain the principles applicable in determining when a debt will be regarded as having become bad. The research also addressed the timing in relation to the identification of a debt as bad, as well as other commercial considerations. This research concluded that there is a need for further guidance in this area and provided brief recommendations that could provide more certainty in relation to the deductibility of bad debts.

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PAES, CRISTIANA VELASCO. "THE DETERMINANTS OF BRAZILIAN PUBLIC DEBTS DURATION IN THE POST-REAL PLAN PERIOD." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2003. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=5097@1.

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Esta dissertação visa encontrar os determinantes da duração da dívida pública brasileira no período pós-Real. Primeiramente, discutem-se os modelos de gestão de dívida pública existentes na literatura e em que medida as considerações dos mesmos se aplicam à gestão da maturidade (particularmente, da duração) da dívida pública brasileira no período estudado. A seguir, apresenta-se uma análise da gestão da dívida, em termos da evolução do tamanho, composição e denominação e maturidade da mesma. É realizado um exercício de decomposição da dívida, a partir do qual se verifica que o principal responsável pelo aumento da Dívida Mobiliária Federal de R$ 57.632 milhões em julho de 1994 para R$ 600.018 milhões em dezembro de 2002 é a parcela de juros, o que é reflexo de questões estruturais. É importante estudar a evolução do tamanho e da composição da dívida devido à sua influência sobre a escolha da maturidade. Finalmente, realiza-se um estudo empírico dos determinantes da duração da dívida pública brasileira no período de agosto de 1996 a dezembro de 2002, em que se mostra que quanto maiores forem o tamanho da dívida pública (medido pela razão dívida-PIB) e a Necessidade de Financiamento do Setor Público (NFSP), menor será a duração da mesma.
This dissertation aims to find out the determinants of Brazilian public debt duration after the Real Plan. First, one discusses the models of public debt management and to what extent they can be applied to the evolution of Brazilian duration in the period studied. Then, an analysis of Brazilian public debt management is made, concerning debt´s size, composition, denomination and maturity. In a decomposition exercise, it can be verified that the main factor responsible for the enormous growth of the Federal Bonded Debt are interest payments, which are consequence of structural questions. The reason to study debt´s size and composition is due to their influence in terms of maturity. Finally, an empirical study is conducted evaluating the determinants of Brazilian public debt duration from August 1996 to December 2002. The results show that the higher is debt´s size (measured by the ratio debt/GDP) and the PSBR (Public Sector Borrowing Requirements), the lower is the duration.

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Dimitrov, Dragomir. "Creating Social Good through Debts: Critical Discourse Analysis of Borrower Representations at Kiva." Thesis, Malmö universitet, Fakulteten för kultur och samhälle (KS), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-23782.

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Kiva is an international non-governmental organization that competes for funds with others in the field. As a consequence, some special relationships and dependencies are formed. This paper argues that among the most significant ones are the representations of borrowers on Kiva’s online lending platform. The work hypothesizes that while Kiva has the potential to create a friendly environment where both participatory and problem-solving style of communication is encouraged, the organization turns out to be a development factor with international importance which inevitably influences the stereotyping of individuals from the Global South. In that sense, the representations of people from the Global South on Kiva’s online platform seem to continue a well-established tradition of Western-centrism, thus admitting further stereotyping also of the audience from the Global North.Through the lens of postcolonial theory and critical discourse analysis as research methods, the research questions and the hypotheses of the paper aim at contributing to the current debates on the existing power relations between the Global South and North by providing information on: how are people in need represented through profiles of single parents as borrowers on Kiva’s website; do representations of single parents contribute to the process of creating stereotypes; what is the role of microfinance in development.By using the most recent data from Kiva's online lending platform, the work aims to present evidence on the stereotypization of representations of a specific sample group of borrowers – individual single parents. While taking into consideration Kiva's ambition towards creating cooperation based on reciprocal dignity, the paper provides some possible interpretations of the way individuals in need are portrayed. It aims to come to the aid of individuals who have interests in the development field, who may want to rethink fundraising strategies involving both visual and textual representations of people, especially in the field of online lending.

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27

Chambers, James. "Neither a Borrower nor a Lender Be: America Attempts to Collect its War Debts 1922-1934." Digital Commons @ East Tennessee State University, 2011. https://dc.etsu.edu/etd/1363.

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During and immediately after World War I the United States lent over $10 billion to various countries to sustain their war efforts and to provide post-war relief. The United States's insistence that these loans be repaid led to sharp disagreements with its erstwhile allies as to the nature of these loans and whether they should actually be repaid. This thesis examines the processes, and the policies upon which those processes were based, by which the United States attempted to compel the debtor nations to begin repaying their loans. The central theme of the thesis was developed largely from primary sources, including Annual Reports of the Secretary of the Treasury, diplomatic message traffic, and minutes and reports of the World War Foreign Debt Commission. Secondary sources supported the development of the economic and political context in which these events occurred as well as the perspectives of the foreign governments involved.

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28

Andrus, Michael P. "Biblical and practical guidelines for church indebtedness." Theological Research Exchange Network (TREN), 1994. http://www.tren.com.

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29

Mzekwa-Khiva, Nomonde Lindelani. "Evaluation of debt management policy implementation towards revenue management in government leased properties." Thesis, Nelson Mandela Metropolitan University, 2013. http://hdl.handle.net/10948/d1020633.

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The study sought to evaluate debt management policy implementation towards revenue management in government leased properties of the Eastern Cape Provincial Treasury at the Transkei Development and Reserve Fund. Secondly, the study aimed at developing a tool for assisting policy-makers and officials involved in debt management and revenue collection. In order to address the research problem, a case study involving randomly selected 27 employees from the Eastern Cape Provincial Treasury and housing ward committee members was adopted. Self-administered questionnaires and interviews were the two data collection techniques utilised. All participants were involved in the study during tea and lunch breaks at the workplace; this constituted the employees’ natural environment. Both quantitative and qualitative designs were utilised in analysing data. Descriptive statistical analysis using excel was utilised to summarise the responses, analyse the demographic profiles of participants and their responses. The results were thus presented in the form of bar charts. Responses which could not be analysed using statistics were analysed qualitatively thus the advantages inherent in the two approaches were exploited. The evidence from the study suggests that government operational employees are aware of their roles and responsibilities as they relate to debt management and debt collection policy. The development of debt management policy promotes rental collection, improve property profitability and ensure the maintenance is in place to improve attractiveness of the government properties.

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So, Wang-ming, and 蘇宏明. "An analysis of mortgage prepayment in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31239274.

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31

Schneider, Friedrich Benjamin [Verfasser]. "Odious Debts. : Status quo und Regelungsmodell unter besonderer Berücksichtigung internationaler Menschenrechte. / Friedrich Benjamin Schneider." Berlin : Duncker & Humblot, 2015. http://d-nb.info/1238435734/34.

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32

Werner, Martin Maximo. "Dealing with a high public debt the Mexican experience /." 1991. http://catalog.hathitrust.org/api/volumes/oclc/28085777.html.

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33

Green, Emily M. "All debts recalled." 2005. http://catalog.hathitrust.org/api/volumes/oclc/61145537.html.

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34

Lee, Shi Young. "Essays on the Latin American debt crisis." 1994. http://catalog.hathitrust.org/api/volumes/oclc/32036102.html.

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35

Weeks, Thomas Todd. "Negotiating international debt from a debtors' alliance to a global bargain /." 1988. http://catalog.hathitrust.org/api/volumes/oclc/18760629.html.

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36

Dimitriu, Cristian. "Odious Debts and Global Justice." Thesis, 2011. http://hdl.handle.net/1807/29699.

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In this dissertation, I attempt to clarify the concept of odious debts and its relationship with global justice theory. Odious debts are debts that are not binding for the citizens of a country, as they were incurred by an illegitimate government in their name but were used for private purposes. I approach the problem of odious debts from two different perspectives. First, I explore the possible connections between odious debts and the contemporary debate on global justice. I argue that current debates on global justice have focused on the extremely important question of whether the international order is harmful or coercive, but have sometimes reached wrong conclusions about this issue. While some scholars have argued that the international order is not coercive at all, others have argued that it is, but did not find a persuasive way of making the point. Odious debts become relevant in this context, because they show a different way in which the global order could be said to be coercive. Second, I develop an account of odious debts from a moral point of view. I argue that a big portion of the debts of the poorest countries are not binding and therefore countries are morally entitled to repudiate them. An implication of this is that lenders have no moral right to demand repayment of odious debts. The reason why some debts are not binding is that citizens should only be held liable for debts incurred in their name when the money that is the basis of that debt is used for legitimate public purposes, not private ones. Whenever ruler acts in accordance to private purposes, states are no longer collectively responsible for the acts incurred in their name. This follows from a proper understanding of social contract theories but also, I argue, from a utilitarian perspective.

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37

Bloodgood, Laura Susan. "The politics of sovereign debt rescheduling government versus commercial bank lending to developing countries /." 1993. http://catalog.hathitrust.org/api/volumes/oclc/32357934.html.

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38

Jorgensen, Erika Ann. "Essays on debt in Latin America." 1992. http://catalog.hathitrust.org/api/volumes/oclc/28165612.html.

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39

張莉玲. "Precautionary Savings, Credit Constraints, and Debts." Thesis, 2002. http://ndltd.ncl.edu.tw/handle/05971606642867214997.

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碩士
國立彰化師範大學
商業教育學系
90
Among the possible reasons, precautionary savings and credit constraints have been pointed out as two critical determinants for doubting the general applicability of the life cycle/permanent income hypothesis (LC-PIH). Further, LC-PIH assumes consumers are able to obtain the credit they want in the perfect capital market. In fact, however, consumers’ actual debts are lower than desired. Consequently, debt is one of paradoxes between empirical evidences and theory. Researchers founded that credit constraints provide a motive for holding precautionary assets. Studies concluded that debts interact with borrowing constraints. Although researchers have put lots of effort to study the issue of precautionary savings, credit constraints and debt respectively, not much research has been done to examine the causal relationship among these factors. The purpose of this study is to empirically investigate the relationship among precautionary savings, credit constraints and debt by developing a structural equation model. The sample of this study is from the 1998 Survey of Consumer Finances (SCF). Results show that interaction exists between precautionary savings, credit constraints and debts. Accumulating more assets for precaution will reduce the probability of being credit constrained. Credit constraints affect precautionary savings indirectly through debt. Credit constraints have a direct negative impact on debt. The more precautionary savings, the lower level of debts. Debts have a positive impact on precautionary savings and credit constraints.

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40

游志勤. "Dynamic Correlation Analysis of Sovereign Debts." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/95769962952288109231.

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41

Lai, Yi-Ju, and 賴逸如. "An Empirical Study of Sovereign Debts." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/33256775589590002599.

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碩士
國立臺北大學
經濟學系
100
Many people believe sovereign default is something that happens to others in other countries and in the past; Serial default does not happen here and now. We can do much better, we have much more knowledge, and we can solve the financial crisis in 2008 easily. However, in fact, the situation nowadays seems not different from the past. In this paper I take Japan, Greece, Ireland, Spain and Italy as examples to study the effects of sovereign debts on these economies. A theoretical model is built and the tool of vector autoregression (VAR) is used to analyze the effects of sovereign debts and exchange rates on the consumption of these countries. 　　The results are as follows. First, the more public debt is, the lower consumption would be, whereas the depreciated currency can stimulate the consumption. Second, the outcome about the effect of public debt on consumption is almost the same as that from the theoretical model, whereas the effect of exchange rate on consumption is quite different. Third, the effect of exchange rate on consumption in different countries is dissimilar.

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Hsieh, Yu-Sheng, and 謝佑聲. "China Debts Structure and Risk Analysis." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/ap26xv.

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碩士
國立交通大學
管理學院財務金融學程
105
The main purpose of this essay is to discuss the debt problem in China. We all know GDP growth in China has decelerated in recent years from a peak of 10.6% in 2010 to 6.7% in 2016,and the economy-wide debt is continuing to rise as potential growth slows. While ongoing progress on reforms is likely to transform the economy and financial system over time, it’s not likely to prevent a further material rise in economy-debt. We expect that economy-wide leverage will increase further over the coming years. The planned reform program is likely to slow, but not prevent the rise in leverage. The importance the authorities attach to maintaining robust growth will result in sustained policy stimulus, given the growing structural impediments to achieving current growth targets. Such stimulus s will contribute to rising debt across the economy as a whole. Due to the deceleration of China GDP Growth in recent years, official GDP growth also adjusted downward gradually and the authorities’ emphasis is progressively shifting towards the quality rather than quality of growth. However, the adjustment is essential to the current Five Year Plan and appeared to be considered by the authorities as important for the maintenance of economic and social stability, especially on the eve of 19th National Congress of the Communist Party of China in fall this year. According to BIS’ data, the economy-wide debt of the government, household, and non-financial corporation rose to 256% of GDP at the end of 2016. While such debt levels are not common in advanced countries, they tend to be seen in countries which have much higher per capita incomes, deeper financial markets and stronger institution than China’s. But when you compare some debt indicators in China right now with those indicators in the period of Subprime mortgage crisis and European debt crisis, and you will find there’re definitely some problems in China now for us to discuss. Based on economic theories, this essay establishes a reliable system to exam the debt level in China which makes the reader can easily excess the valuation about the debt situation in China. In the meantime, we also point out a lot of comparable risk indicators for the purpose of be the benchmark for reference here. Finally, we notice the China authorities have taken steps to reduce the rising economy-wide leverage, and we expect the reforms about to offset the rise in debt and financial risk is somehow up to the self-determination of China.

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43

Honold, Eduardo A. "Explaining regime responses to international financial crises in Latin America an analysis of austerity policies in Argentina, Chile, and Peru, 1968-1986 /." 1990. http://catalog.hathitrust.org/api/volumes/oclc/33071714.html.

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44

Oliveri, Ernest J. "The Latin American debt crisis the politics of stress and adjustment in the inter-American finance regime /." 1987. http://catalog.hathitrust.org/api/volumes/oclc/19341786.html.

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45

Chow, Edward Hsing-Yi. "The choice between bonds and loans for LDCs' foreign debt." 1990. http://catalog.hathitrust.org/api/volumes/oclc/26240103.html.

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46

Yung-Ling, Chen. "The Long-Run Performance of Secured Debts." 2004. http://www.cetd.com.tw/ec/thesisdetail.aspx?etdun=U0009-0112200611361045.

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47

Wang, Chih-Yung, and 汪志勇. "Issuing of subordinated debts and market discipline." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/qdc24u.

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博士
國立中山大學
企業管理學系研究所
95
Three independent models are built based on information asymmetric to analysis discipline effects brought by banks` issuance of subordinated debts. The research results offer the theory of subordinated debts discipline effects. First, an adverse selection model is built to examine banks’ policies when issuing subordinated debts based on the banks’ credit risks. The result shows that banks with lower credit risks are more likely to issue subordinated debts, since after the issuance, the yields of these debts are lower. When depositors observe the lower yields of the subordinated debts, they would presume that these banks have lower credit risks. As a result, banks with lower credit risks can decrease their operational costs by issuing subordinated debts. This model has demonstrated that the market can discipline banks indirectly through the issuance of subordinated debts. Second, a moral hazard model to show that issuing of subordinated debts by banks can bring direct market discipline and indirect market discipline to make their loans less risky. The direct market discipline means that the risk level of bank will be evaluated by professional investors. The investors will require that the yields accord to the banks risk. For lowering the cost of issuing subordinated debts, banks will make their loans less risky. The indirect market discipline means that the depositors would take the yields of these debts as a significant signal indicating banks risk levels. The depositors will decide to withdraw their savings when the bank signals a higher risk, and keep their saving when the bank signals a lower risk. I prove that issuing of subordinated debts by banks can bring about these two kinds of market discipline. The model has also demonstrated that if the bank supervisor can utilize the information of issuing subordinated debts effectively, they will achieve higher supervisory goal. Third, a reputation model is built to show that for reputation concerns, a bank would change its monitoring decisions if it issues subordinated debts. Reputation effect in banks is different in different scenarios. When the good banks probability of success is very high, reputation effect would induce the bad bank to start monitor it`s borrowers, and the efforts of bad banks monitoring would be increased by time. When the bad banks probability of success is very low, reputation effect would induce the good bank start monitoring its borrowers. and the efforts of bad banks monitoring would be decreases by time.

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Chen, Yung-Ling, and 陳玉綾. "The Long-Run Performance of Secured Debts." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/29661707881515995558.

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碩士
元智大學
財務金融研究所
92
This study analyzes the long-run stock return and operating performance following secured debts from 1989 to 1999. We choose buy-and-hold abnormal return, Fama and French (1993) three-factor model, and Carhart (1997) four-factor model to examine the long-run performance. Our primary findings are that (1) issuing firms have underperformance on stock return and operating performance after offering secured debts; (2) the underperformance is restricted to the period with low volume issues; (3) larger firms with smaller secured debt offering, and firms which issue A-rated secured debt or longer maturity of secured debt will suffer significantly harsh underperformance; (4) the cross sectional results provide financial institutions and utilities, and A-rated secured debt are significantly related to 3-year buy-and-hold return on issuing firms, while market return and A-rated secured debt are significantly related to 5-year buy-and-hold return on issuing firms.

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Liu, Ching Hong, and 柳智鴻. "A study on debts-collecting behavior improvement." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/45575281776316134643.

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碩士
長庚大學
管理學院碩士學位學程在職專班財務金融組
103
This study aims to explore the problem of non-performing loans in domestic banks, and the paper is organized as follows: The first section introduces the idea of “non-performing loans” and “the minimum standards of write-off”. The second section introduces the method, dealing with bad debts through asset management companies, which is used in the United States, Japan, and South Korea, and then explores the problems of its application in Taiwan. The third section describes how domestic banks deal with bad debts. In recent years, many banks have been written off bad debts in a large scale. They have been selling their bad debts to asset management companies since 2002. However, since there have been public doubts about selling bad debts, the market shrank rapidly and buyers gradually retreated. In addition, the small spreads between bank’s deposit and loan ratio has made the business expansion become difficult, and besides financial supervisors requested that banks were not allowed to collect non-performing loans on their own and they are only sold for the exception. As was stated above, the big banks started to change the attitude towards doubtful debt collection, and consequently it has made other banks reflect and change their patterns of collection and thus made an impact on the efficiency of bad debt collection. Finally, this paper summarizes the procedures and methods of collecting bad debts executed by domestic banks. To illustrate, the paper ends by presenting the changing of main direction and implementation adopted by the case in point, “Bank A”, employing strategic and organized collection and therefore greatly improving the retrieval of doubtful debts.

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Tsai, Zih-Wei, and 蔡子瑋. "The Sustainability of Local Debts in Taiwan." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/77299859223336580815.

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Dissertations / Theses on the topic 'Debts'

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