Relevant bibliographies by topics / External debts

Academic literature on the topic 'External debts'

Author: Grafiati
Published: 4 June 2021
Last updated: 31 July 2024

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Journal articles on the topic "External 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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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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MAGOMEDVALIEV, M. I. "ВНЕШНИЙ ДОЛГ США И РОССИИ: СРАВНИТЕЛЬНЫЙ АНАЛИЗ." Экономика и предпринимательство, no. 2(151) (May 31, 2023): 185–87. http://dx.doi.org/10.34925/eip.2023.151.2.035.

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Public debt is an important aspect of the world's financial system, and its state has an impact on countries' economy. The article examines the evolution of the Russian Federation's and the United States' public external debt management, as well as the current state of the Russian Federation's and the United States' external public debts, as well as a comparison of the Russian Federation's and the United States' public debts. Государственный долг является важным аспектом мировой финансовой системы, и его состояние оказывает влияние на экономику стран. В статье рассматривается эволюция управления государственным внешним долгом Российской Федерации и США, а также текущее состояние внешнего государственного долга Российской Федерации и США, и сравнение Государственных долгов.
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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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Alonge, Funmilayo Bukola, and Clement Olatunji Olaoye. "The Effects of Public Debt Financing: A Multi-state Perspective." Archives of Business Research 10, no. 9 (September 21, 2022): 112–18. http://dx.doi.org/10.14738/abr.109.12851.

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This paper investigates the relation between public debt financing and government expenditure. Using year and states fixed effect estimation, we find that the amount owed by federating states propels government spending. While external debts have a significant and positive association with public expenditure, domestic debts have positive effect, though not significantly different from zero, on government expenditure. The study recommends that policymakers in the public sector should widen external debts than domestic debts because its influence governments’ recurrent and capital expenditure.
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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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Adebayo, Adedokun, and Okorie Ukafor Ukafor. "Macroeconomic Instability in Nigeria; Examining the Roles of External Debts." International Journal of Research and Scientific Innovation XI, no. V (2024): 1098–116. http://dx.doi.org/10.51244/ijrsi.2024.1105074.

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This study investigates the effects of external debts on the index of macroeconomic instability, which incorporate multiple macroeconomic indicators in a single index, so as to present a more robust findings as against the studies in the literature which investigates the effects of debts on each of the macroeconomic variables on individual bases. After generating the single index of instability, the study employed the Autoregressive Distributed Lag (ARDL) for the analysing under four different models which interchange four different measures of external debts. The results show that external debt stock to GDP ratio exerts negative effects on macroeconomic instability in the short and long run. Debt-to-export ratio is not significant on macroeconomic instability both in the short and long run. It is also established that debt-to-revenue has negative and significant impact on macroeconomic instability in the short run, but not in the long-run. In contrast, the results show that debt service-to-revenue exerts a positive and significant effects on macroeconomic instability both in the short and long-run. This implies that increase in the proportion of revenues that are expended on debt servicing worsen macroeconomic instability in Nigeria both in the short and long run.
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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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Boshra Ghaly, Sherine. "Financialization and external debts in the MENA region: Dynamic forecasting of Egypt’s external debts." المجلة العلمیة للإقتصاد و التجارة 52, no. 3 (October 1, 2022): 513–40. http://dx.doi.org/10.21608/jsec.2022.260530.

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Ahsan, Diya Abdul Hussain. "The External Debt Problem of Developing Countries." Business Inform 10, no. 513 (2020): 36–49. http://dx.doi.org/10.32983/2222-4459-2020-10-36-49.

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The article is aimed at researching the problem of external debt of developing countries. The current status of external debt of developing countries is analyzed. The growing demand for investors, combined with the growing number of firms looking to take on large debts, has led to a deterioration in underwriting standards and the credit quality of such loans. The grounded relevance of the use of borrowing resources today is not necessarily a bad thing, even on the contrary – it is one of the most effective ways to stimulate the growth of the economy. When these resources are used targeted and efficiently, they generate more revenue for the borrower. But this gets worse when loans are used inefficiently, that is when they stimulate excessive consumption rather than bring in additional benefits. The author concluded that the reasons for the current fears began long before the crisis of 2008. A debt is not a bad instrument if it is used to finance investments that make a profit or create assets that are worth more than the debt itself. It’s hard to find such data, but if we trace the tendency of global growth and compare it to the tendency of debt accumulation, we’ll see that doesn’t happen. Therefore, it seems that the situation is out of control, i.e., debts continue to accumulate, excessive accumulation of loan portfolios increases, and low interest rates imply the survival of companies and countries. This leads to liquid risks with the expiration of the debt repayment period. Governments have been addicted to increased loans – none of the more developed economies could cope with a possible tightening of monetary policy. This means that when the time comes to severely lower the credit shoulder, economic growth will suffer. Central banks, in turn, find themselves trapped because maintaining such loose monetary policy and a high credit shoulder poses a risk of forming the price bubbles. It is determined that while rates remain at current low levels, investors will be looking for a bigger return, which means taking more risk – this, in turn, could trigger the «butterfly effect», causing destruction to the entire financial system.
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Dissertations / Theses on the topic "External debts"

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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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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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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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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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Таранюк, Леонід Миколайович, Леонид Николаевич Таранюк, Leonid Mykolaiovych Taraniuk, R. Neronov, and H. Qiu. "The current situation with Ukraine's external debt." Thesis, Сумський державний університет, 2021. https://essuir.sumdu.edu.ua/handle/123456789/86640.

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Загальна сума зовнішніх державних і гарантованих державою боргів на кінець лютого 2020 року склала 49,81 млрд доларів. З 2009 року державний борг, який тоді становив 26,5 мільярдів доларів, з кожним роком зростає. Виняток становить 2013 рік, коли борги зменшилися з 38,7 до 37,5 млрд доларів. наступного року, а також у 2019-му – з 50,5 до 48,9 млрд дол. Найбільші запозичення Україні довелося зробити в 2011 році, коли борг зріс з 34,8 до 37,5 млрд грн, а в 2015 році борг зріс з 38,8 до 43,4 млрд доларів.
Общая сумма внешней государственной и гарантированной государством задолженности на конец февраля 2020 года составила 49,81 миллиарда долларов. С 2009 года государственный долг, который тогда составлял 26,5 миллиарда долларов, ежегодно растет. Исключение составляет 2013 год, когда долги снизились с 38,7 до 37,5 миллиарда долларов. в следующем году, как и в 2019 году - с 50,5 до 48,9 миллиарда долларов. Самые крупные заимствования Украине пришлось сделать в 2011 году, когда долг увеличился с 34,8 до 37,5 миллиарда гривен, а в 2015 году долг увеличился с 38,8 до 43,4 миллиарда долларов.
The total amount of external public and state-guaranteed debts at the end of February 2020 amounted to 49.81 billion dollars. Since 2009, the public debt, which then amounted to 26.5 billion dollars, has been growing every year. The exception is 2013, when debts decreased from 38.7 to 37.5 billion dollars. next year, as well as in 2019 - from 50.5 to 48.9 billion dollars. Ukraine had to make the largest borrowings in 2011, when the debt increased from 34.8 to 37.5 billion hryvnias, and in 2015 the debt increased from 38.8 to 43.4 billion dollars.
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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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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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Chung, Keunsuk. "Essays on growth of a small open economy in an imperfect international capital market : theory and evidence /." Thesis, Connect to this title online; UW restricted, 2005. http://hdl.handle.net/1773/7383.

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Chmielewski, Maciej. "How to improve the effectiveness of the World Bank's negative pledge clause as a legal and policy instrument." Thesis, McGill University, 2005. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=82656.

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Public debt incurred by developing countries has become an ardently debated issue in international relations. The competing interests of creditors and debtors, combined with the increasing necessity of advancing welfare worldwide, make it difficult to establish a workable scheme that provides adequate assistance to needy countries. Foreign aid is evidently part of the solution to development problems. However, conditions imposed by international lenders bring about certain discontents.
The World Bank's negative pledge clause forbids a public borrower from securing external debt that is preferential to that of the Bank. This covenant also includes several exceptions: short-term secured banking transactions and financing, through the transfer of state-owned assets, are allowed. Moreover, only in exceptional circumstances does the Bank waive the clause's application. Thus, in order to secure foreign debt, a borrowing government is usually forced to contract financing that falls within the covenant's exceptions.
This Paper analyzes the World Bank's negative pledge clause and compares it to the provisions used in commercial lending. It also reviews the historical tendencies and current trends with respect to sovereign borrowing, and concludes that the World Bank's negative pledge clause should be amended, in order to bring it closer to commercial practice. It is argued that the amendments proposed in this thesis will enhance the Bank's dual function and role as both a creditor and a development institution.
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Heredia-Zubieta, Carlos Antonio. "The Mexican crisis : the neoliberal model of structural adjustment on trial, 1982-1985." Thesis, McGill University, 1986. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=65334.

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Books on the topic "External debts"

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A, Frenkel Jacob, Dooley Michael P. 1944-, and Wickham Peter 1947-, eds. Analytical issues in debt. Washington, D.C: International Monetary Fund, 1989.

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Soberón, Luis Rebolledo. Deuda externa: En búsqueda de salidas viables para la crisis. [Lima]: Universidad de Lima, Facultad de Economía, Centro de Investigaciones Económicas y Sociales, 1985.

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Molina, Elda. La deuda externa de los paises subdesarrollados. La Habana: Editora Política, 1990.

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Library of Congress. Congressional Research Service, ed. Latin American debt: Characteristics, trends, and U.S. policy. [Washington, D.C.]: Congressional Research Service, Library of Congress, 1991.

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Cohen, Benjamin J. Developing-country debt: A middle way. Princeton, N.J: International Finance Section, Dept. of Economics, Princeton University, 1989.

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Non-Aligned Movement Ad Hoc Advisory Group of Experts on Debt. The continuing debt crisis of the developing countries: Report of the Non-Aligned Movement Ad Hoc Advisory Group of Experts on Debt. [Jakarta, Indonesia?]: The Group, 1994.

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Leroux, François. Que nous a appris la crise de l'endettement international? Montréal, Québec, Canada: Ecole des hautes études commerciales, 1985.

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Mestel, Roland. Auslandsverschuldung der Entwicklungsländer in den 90er Jahren: Marktorientierte Massnahmen zur Schuldenreduktion. Wiesbaden: Deutscher Universitäts-Verlag, 1999.

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Cordella, Tito. Debt overhang or debt irrelevance?: Revisiting the debt-growth link. [Washington, D.C.]: International Monetary Fund, 2005.

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Ugarteche, Oscar. Las iniciativas de alivio de la deuda. Quito, Ecuador: FONDAD-Andino, 1991.

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Book chapters on the topic "External debts"

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Oellers-Frahm, Karin, and Andreas Zimmermann. "Arbitral Tribunal and Mixed Commission for the London Agreement on German External Debts." In Dispute Settlement in Public International Law, 1678–700. Berlin, Heidelberg: Springer Berlin Heidelberg, 2001. http://dx.doi.org/10.1007/978-3-642-56626-4_100.

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Oppenheimer, Peter M. "External Debt." In The New Palgrave Dictionary of Economics, 4309–13. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_608.

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Orr, Bill. "External Debt." In The Global Economy in the 90s, 233–48. London: Palgrave Macmillan UK, 1992. http://dx.doi.org/10.1007/978-1-349-13009-2_13.

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Oppenheimer, Peter M. "External Debt." In The New Palgrave Dictionary of Economics, 1–5. London: Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1057/978-1-349-95121-5_608-1.

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Galistcheva, Natalya. "External Debt." In World Economy and International Business, 803–12. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-20328-2_41.

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Mikić, Mia. "External Debt Management." In Growth and External Debt Management, 12–21. London: Palgrave Macmillan UK, 1989. http://dx.doi.org/10.1007/978-1-349-10944-9_2.

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Alagia, Ricardo. "The External Debt." In Great Power Relations in Argentina, Chile and Antarctica, 131–43. London: Palgrave Macmillan UK, 1990. http://dx.doi.org/10.1007/978-1-349-10075-0_8.

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Czerkawski, Chris. "Measuring External Debt." In Theoretical and Policy-Oriented Aspects of the External Debt Economics, 3–15. Berlin, Heidelberg: Springer Berlin Heidelberg, 1991. http://dx.doi.org/10.1007/978-3-642-84549-9_1.

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Razzak, Weshah. "The External Debt." In The Future of Economic Development in the Gulf Cooperation Council States, 72–89. London: Routledge, 2022. http://dx.doi.org/10.4324/9781003288282-4.

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Rübel, Gerhard. "Introduction." In Factors Determining External Debt, 1–5. Berlin, Heidelberg: Springer Berlin Heidelberg, 1988. http://dx.doi.org/10.1007/978-3-642-83655-8_1.

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Conference papers on the topic "External debts"

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Erkan, Çisil, Erdinç Tutar, Filiz Tutar, and Mehmet Vahit Eren. "An Analysis of External Debts of Turkey (1980–2012)." In International Conference on Eurasian Economies. Eurasian Economists Association, 2012. http://dx.doi.org/10.36880/c03.00483.

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One of the most important goals of developing countries is to materialize sustainable economic growth and development. Foreign external debts play a key role in accelerating economic growth, investment and exports. Insufficient level of domestic capital accumulation generally forces developing countries to source finances by means of debts from foreign countries, banks and international organizations. External debt is also important resource for Turkey. In Turkish economy, external debt is taken generally in order to counter the saving deficit and foreign Exchange deficit and reach the high growth rate. External debts, which are initially taken as additional resources, can accelerate the investments, economic growth and development when they are used efficiently. But if the external debts aren’t used efficiently and the principal and interest payments of the external debts become higher than national income increase, it is required to get debts again to pay debts and thereby it causes to increase external debt burden and decrease the country welfare. In this study, development of external debts has been analyzed, starting from Ottoman Period until today. it is concluded that, external debts have created a negative impact on total investments between 1980 and 2010 in Turkey, and this negative impact on total investments has prevented economic growth. This conclusion suggests that the amount of foreign debt should be reduced so as to increase the level of economic growth in Turkey.
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Egeli, Haluk, and Pınar Egeli. "The Sustainability of External Debts for Turkic Countries." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01379.

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Resources provided from one country to another country fulfills the function of closing the gap for currency and savings for the country acquiring these resources. Regarding the current position of emerging countries, these two concepts take important place for their development efforts. In this paper, developments in Turkic Countries are analyzed to put forth their external debts' sustainability for the transition period. The model is constructed by using variables with inter temporal budgetary constraints approach. Inter temporal budgetary constraint approach take into consideration external debt as well as interest rates in international financial markets. Panel data techniques are used for empirical analysis and based on the empirical findings for above mentioned countries, comments are made for their liquidity constraints and the sustainability of their external debts.
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Ganiev, Junus, and Damira Baigonushova. "External Debt Sustainability in the Eurasian Economic Union Countries." In International Conference on Eurasian Economies. Eurasian Economists Association, 2020. http://dx.doi.org/10.36880/c12.02383.

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After the global financial crisis, there have been serious increases in state debt of most countries. In addition, the debts for economic development are constantly increasing in the Eurasian Economic Union countries. As a result, the sustainability problem of government debt arises. In some countries, such as Kyrgyzstan, a significant portion of government debt is taken from a single country. This situation increases the risk even more. The aim of the study is to analyze the sustainability of state debts comparatively in the countries of the Eurasian Economic Union. To this end, the current state of government and total external debt were analyzed in light of various sustainability rates. The ratio of government debt and debt service to variables such as Gross Domestic Product and export was determined and compared. ADF and PP unit root tests and quarterly data for the period 2008-2019 was used to determine the stability of external debt. According to the empirical results, it is showed that the external debt is unsustainable in EAEU countries. Therefore, they need to implement rational policies on external debt management, in both the public and private sectors.
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Noyan Yalman, İlkay, Özcan Işık, and Şerife Merve Koşaroğlu. "Export-Led Growth Model and External Debt in Turkey." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01917.

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After the 1980s, as the globalization movement accelerated, countries increased their foreign trade transactions. In with this process, import-based growth model was abandoned in the Turkish economy and an export-based growth model is adopted. The export-led growth model increased export revenues started to, growth has gained speed, however, due to fact that the industry is dependent on imported inputs, started to increase external balance and current account deficit problems. In addition, there have economic growth that is not create employment due to insufficient savings and investments. For this reason, the increase in external debt tended to increase further. Such causes have led to an increase in external debt. In this study, the effect of export-led growth on foreign debts will be analyzed. For this purpose, foreign debts and growth relation in Turkey will be analyzed with time series model and will be done causality analysis.
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Moiseev, V. V., Zh N. Avilova, E. A. Karelina, and I. V. Kirova. "External and Internal Debts of Russia." In Proceedings of the International conference "Economy in the modern world" (ICEMW 2018). Paris, France: Atlantis Press, 2018. http://dx.doi.org/10.2991/icemw-18.2018.21.

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Zhumakunova, Tolkun, and Zhainagul Kydyralieva. "The Effects of External Debts on Economic Growth of Kyrgyzstan." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c09.02019.

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In developing countries, insufficient internal sources cause the increase of need on external sources. These countries in order to maintain their economic growth apply for external debt to cover the gap of foreign currency and savings. After the collapse of Soviet Union, Kyrgyzstan began to use external funds. It is very important to use these sources in accurate areas and efficiently. Most empirical studies indicate a negative correlation between foreign debt and economic growth, especially in those countries whose foreign debts are relatively high. This work examines the correlation between foreign debt and economic growth in Kyrgyz economy. Toward this objective, it uses the economic indicators of Kyrgyzstan between 1993 and 2015. The stationarity of time series data used in this study was tested by the ADF test. Than a least-squares regression analysis is performed. According to the findings of study, foreign debt in Kyrgyzstan have a negative impact on economic growth. According to results foreign debt should be reduced in order to increase the level of economic growth in Kyrgyzstan.
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Karaköy, Çağatay, Ahmet Uzun, and Ömer Selçuk Emsen. "The Changes in Foreign Debt for the Transition Economies." In International Conference on Eurasian Economies. Eurasian Economists Association, 2011. http://dx.doi.org/10.36880/c02.00279.

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1989 and the years following 1991 were the times in which many important economic and political turnovers had taken place in the world. That was the time when Berlin Wall fall down with scattering the Eastern block and many politically and economically independent states came into being, at the same time, ongoing about 70 years socialist system also started to spin into liberal system. The constituted 27 states in 1991 were tended to liberal economic system instead of socialist economy, and these stated were called as transition economies. With the transition period, there has have been significant decreases in the level of affluence, hyperinflation and some common properties seen at the beginning. It became inevitable to get foreign debt for reorganization and configuration of these economies. Nevertheless these foreign debts caused many serious problems in some of these economies. In the present work we tried to understand the economic structure and external loans of the transition economies, which are different with respect to their natural resources and are similar to each other in term of social, political and cultural aspects. It was under debated to investigate the relationship between indicated foreign debts and indicated domestic income and external trade so foreign trade financing problematic which thought to be the source of going into debt and economical development relations are searched.
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Bal, Harun, Ayat Abdelrahim Suliman Esaa, and Esma Erdoğan. "The Foreign Debt and Economic Growth in Sub-Saharan Africa." In International Conference on Eurasian Economies. Eurasian Economists Association, 2022. http://dx.doi.org/10.36880/c14.02622.

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The growing levels of external debt in developing countries are increasingly a worldwide problem, particularly in Sub-Saharan African countries, where the expanding portfolio of foreign debts, debt servicing rates, and debt overhang cause alarm and global concern. The likelihood of relatively good outcomes of the interaction between external debt and economic growth is based on the government's attempts to maintain a sustainable debt-to-GDP ratio, a low budget deficit, and that the external debt is utilized primarily for capital investments. Under other conditions, the government would confront a circumstance in which accumulated foreign debt levels stifle economic progress, particularly when debt levels rise over time and are poorly managed. In this context, this study aims to examine the association between foreign debt and economic growth in Sub Sahara African countries during the period from 1980 to 2019. The study employed the Dynamic Panel Threshold Regression analysis to investigate the differential impact of foreign debt on economic growth below and above a threshold. The empirical results highlight the existence of a nonlinear relationship between foreign debt on economic growth above the debt threshold during the examined period. Empirical evidence suggests significant policy prescriptions; Sub Sahara African governments should use solid methods of generating domestic income to supplement outside sources of funding, such as the inclusion of domestic informal businesses on a shared cutting-edge platform to ensure successful domestic revenue collection.
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Hiç, Özlen. "The Present Global Crisis and Its Effect on the Turkish Economy." In International Conference on Eurasian Economies. Eurasian Economists Association, 2010. http://dx.doi.org/10.36880/c01.00107.

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The global economic crisis first started in the USA in September 2008 as a widespread insolvency problem caused by mortgage debts of households that had become unpayable. The financial crisis, in turn, caused a serious recession. The economic crisis soon spread to other developed countries because their banks held assets of US banks that had become nearly worthless while exports of these countries to the USA decreased significantly. Then it spread to developing countries because direct private investments (DPIs) and financial funds flowing from developed to developing countries declined precipitously while exports of the latter to the former countries also fell down. The developed countries, however, took proper steps to ameliorate the crisis by lowering the interest rates, helping the insolvent banks financially as wel as launching public expenditure programmes. Turkey was one of the worst hit countries because she had been following wrong globalization strategies. Privatization process was corrupt while much of the DPIs went to those fields which did not yield much increase in employment or export potential. But most importantly, Turkey had raised interest rates to abnormally high levels and thereby had vastly expanded her internal and external debts. Hence, as a result of the global economic crises, Turkey suffered a significantly deep fall in her GNP growth rate and a very big increase in her unemployment rate. Though Turkey took several measures to ameliorate the balance of payments deficit and to expand total demand, hence production, the government refrained from making a stand-by agreement with the IMF in order to avoid strict discipline in her government expenditures due to first, local elections and presently, the coming parliamentary elections.
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Baigonushova, Damira, Junus Ganiev, Nevin Aydın, and Mairam Baigonusheva. "Sustainability of the Current Account Deficit in Kyrgyzstan." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01843.

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Like most developing countries, current account deficit in Kyrgyzstan is one of the ongoing problems. The external dependency on both consumption and production goods and the lack of diversification of export goods, in other words, the formation of export from the unprocessed goods such as gold and some agricultural products further increase the risks in this area. So, in this study, it is aimed to investigate the sustainability of current account deficit in Kyrgyzstan and also its causes for 2000:1-2016:4 time periods. Time series causality, VAR-analysis approach and the Johansen cointegration methods have been used. When the relations between the current account deficits and the important sub-items of this account are examined, it is found out that the current account deficits are mostly affected by net exports and foreign debt interest payments. From a wider perspective, it has been found that the changes in current account deficit are mostly influenced by foreign direct investments. According to the Johansen cointegration test, there is no cointegration between export and import series, which is why Kyrgyzstan's foreign trade deficit is not sustainable. In the short term, the current account deficits, which are being carried out without any very important problems with the help of foreign workers' income, foreign debts and foreign direct investments, may become an important problem in the long run. To prevent this, there is a need for more active and more effective policies in the country to support real sectors that can compete with the rest of the world.
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Reports on the topic "External debts"

1

Andrian, Leandro Gaston, Valerie Mercer-Blackman, Andrea Presbitero, and Alessandro Rebucci. Vulnerability, Debt and Growth in the Caribbean: A Fan Chart Approach. Inter-American Development Bank, September 2013. http://dx.doi.org/10.18235/0009132.

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High government debts, weak economic growth, vulnerability to external shocks and the design of sound fiscal consolidation strategies are among the most critical issues that some of the Caribbean countries have currently to deal with. Stabilization programs may harm economic growth but, under certain conditions, they could be expansionary. The main result of this analysis is that the uncertainty about the future evolution of debt increases when the volatility of exogenous shocks that affect fiscal revenues are properly accounted for in the debt sustainability analysis.
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Vergara, Rodrigo, and Sebastián Edwards. Fiscal Sustainability, Debt Dynamics and Debt Relief: The Cases of Nicaragua and Honduras. Inter-American Development Bank, December 2002. http://dx.doi.org/10.18235/0009172.

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The purpose of this paper is to analyze the relationship between fiscal policy, aggregate public sector debt sustainability, and debt relief. In particular, we develop a methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in the post-HIPC era (Highly Indebted Poor Countries relief initiative). This model explicitly considers the role of domestic debt, and quantifies the extent to which future debt sustainability depends on the availability of concessional loans at subsidized interest rates. The working of the model is illustrated for the cases of Honduras and Nicaragua. Both countries differ markedly in terms of the burdens of their external and internal debts. The results from our simulation analysis indicate that unless Nicaragua receives substantial concessional aid in the future, its public sector debt is likely to become unsustainable. In the case of Honduras, our simulation exercise shows that under reasonable parameters the country's fiscal stance as of 2001 is sustainable.
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Nogués, Julio J. Agricultural Exporters in a Protectionist World: Review and Policy Implications of Barriers Against Mercosur. Inter-American Development Bank, February 2004. http://dx.doi.org/10.18235/0011107.

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Worldwide, the Mercosur countries are probably the ones that face the most hostile trading system. Their strong comparative advantage in temperate agricultural and agro-industrial products make them particularly vulnerable to the irrationally high and variable agricultural protectionism cum subsidies that continues to distort this trade. In retrospect the paper argues that signing the Uruguay Round Agreement on Agriculture was a kiss of death for the development prospects of these countries. Likewise, the continued expansion of regional policies and particularly that practiced by the EU, continues to reduce export earnings of Mercosur. The paper presents a selected survey of the literature as well as new estimates on these and other effects including the financial consequences that agricultural protectionism has on Mercosur; their ability to sustain and service their external debts. Based on the findings, the paper concludes with some policy suggestions which at best represent defensive opportunities. Nothing would boost more the development prospects of these countries than a comprehensive and ambitious multilateral agreement to reduce agricultural protectionism. Nevertheless given the highly protectionist stance of the US and EU, the prospects that this will materialize anytime soon are dim.
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4

Arellano, Cristina, Andrew Atkeson, and Mark Wright. External and Public Debt Crises. Cambridge, MA: National Bureau of Economic Research, August 2015. http://dx.doi.org/10.3386/w21456.

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5

Ozler, Sule, and Guido Tabellini. External Debt and Political Instability. Cambridge, MA: National Bureau of Economic Research, July 1991. http://dx.doi.org/10.3386/w3772.

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Cohen, Daniel, and Jeffrey Sachs. Growth and External Debt Under Risk of Debt Repudiation. Cambridge, MA: National Bureau of Economic Research, September 1985. http://dx.doi.org/10.3386/w1703.

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7

Collins, Susan. South Korea's Experience With External Debt. Cambridge, MA: National Bureau of Economic Research, May 1988. http://dx.doi.org/10.3386/w2598.

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Aizenman, Joshua. Trade Dependency, Bargaining and External Debt. Cambridge, MA: National Bureau of Economic Research, October 1988. http://dx.doi.org/10.3386/w2726.

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Dooley, Michael, and Kenneth Kletzer. Capital Flight, External Debt and Domestic Policies. Cambridge, MA: National Bureau of Economic Research, July 1994. http://dx.doi.org/10.3386/w4793.

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10

Alesina, Alberto, and Guido Tabellini. External Debt, Capital Flight and Political Risk. Cambridge, MA: National Bureau of Economic Research, June 1988. http://dx.doi.org/10.3386/w2610.

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