Dissertations / Theses: 'External debts'

1

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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4

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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7

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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8

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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9

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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11

Zouari, Abdel-Jawed. "European capitalist penetration of Tunisia, 1860-1881 : a case study of the regency's debt crisis and the establishment of the international financial commission /." Thesis, Connect to this title online; UW restricted, 1998. http://hdl.handle.net/1773/10503.

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Hund, John Eric. "Variance and covariance dynamics in emerging sovereign credit markets /." Digital version accessible at:, 2000. http://wwwlib.umi.com/cr/utexas/main.

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Kim, Young Jae. "Government expenditure and capital accumulation in a developing economy with external debt /." Thesis, Connect to this title online; UW restricted, 1993. http://hdl.handle.net/1773/7418.

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Bourget, Bernard. "Country risk analysis : a survey of external debt service capacity indicators." Thesis, McGill University, 1986. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=65534.

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15

Ozcan, Banu. "Market convergence, catastrophe risk and sovereign borrowing : an empirical analysis for emerging market countries /." Thesis, Connect to Dissertations & Theses @ Tufts University, 2005.

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Thesis (Ph.D.)--Tufts University, 2005.
Chair: Laurent L. Jacque. Submitted to the Fletcher School of Law and Diplomacy. Includes bibliographical references (leaves 100-114). Access restricted to members of the Tufts University community. Also available via the World Wide Web;

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16

Bruce, Colin (Colin Ashley). "Contractual unenforceability, external debt renegociation and the effective incidence of the burden of debt service." Thesis, McGill University, 1986. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=72816.

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17

Prokop, Jacek. "A game theoretical investigation of the international debt overhang." Diss., Virginia Tech, 1991. http://hdl.handle.net/10919/37408.

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18

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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Habimana, Andre. "The effects of external debt burden on capital accumulation: a case study of Rwanda." Thesis, University of the Western Cape, 2005. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=init_2877_1177928061.

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Xin, Xiaodai. "Three essays on monetary policy and financial development." Connect to this title online, 2004. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1092423450.

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Thesis (Ph. D.)--Ohio State University, 2004.
Title from first page of PDF file. Document formatted into pages; contains xi, 102 p.; also includes graphics (some col.) Includes bibliographical references (p. 98-102). Available online via OhioLINK's ETD Center

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21

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

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22

Candelaria, Sedfrey Martinez. "State responsibility and international financial obligations : a case study of the International Monetary Fund stand-by arrangements with developing country members." Thesis, University of British Columbia, 1989. http://hdl.handle.net/2429/28824.

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Since the international debt crisis arose in 1982, various forms of debt relief measures have been applied by international creditors to alleviate the difficulties encountered by most developing countries in meeting their financial obligations. Renegotiation of external debts within the framework of official and private creditor clubs, however, has become the widely acceptable procedure in recent years. A sine qua non to this process is the entry by a debtor state into a stand-by arrangement with the International Monetary Fund. Compliance with the terms of the stand-by arrangement is closely linked, either in a formal or informal manner, to the enforcement of bilateral loan rescheduling agreements with creditor governments and syndicated loan agreements with private commercial banks. The crux of IMF financing is a commitment by a debtor state to implement economic policies aimed at improving the latter1s balance of payments position. However, the impact of these economic austerity measures upon the political stability of the debtor's government and the living standards of its citizens has generated an attitude of reluctance among the leaders of several developing countries to consult the IMF in accordance with current renegotiation procedures. In this thesis, the writer will examine the salient legal and political issues arising from the practice of international creditors in using compliance with the terms of the IMF stand-by arrangement as a parallel condition under their loan agreements with a debtor state. Three main arguments have been considered by this writer in shedding light upon this study. Firstly, the assumption that compliance with the terms of the IMF stand-by arrangement constitutes an international obligation is not in accord with the law and practice of the IMF. Any inference of breach entailing state responsibility, therefore, is unwarranted on account of the characterization of the IMF stand-by arrangement as a non-binding instrument. Secondly, a debtor state experiencing extreme economic hardship may be justified under international law to take unilateral action having the effect of deviating from the stand-by arrangement provisions. It will be argued in particular that the principle of "freedom for payments" embodied in stand-by arrangements is subject to an exception applying the rule of a state of necessity under international law. Finally, it will be argued that the political sustainability of economic adjustment for debtor states through the stand-by arrangements could be enhanced by incorporating human rights principles as a juridical standard for adjustment policies formulated in consultation with the IMF.
Law, Peter A. Allard School of
Graduate

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23

Mongsawad, Prasopchoke. "Debt and foreign direct investment in a small developing economy /." free to MU campus, to others for purchase, 2001. http://wwwlib.umi.com/cr/mo/fullcit?p3025639.

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van, Vliet Lisette. "Debt-for-Nature Swaps : transnational environmental politics in a changing global political economy or NGOs, LDCs and IOUs." Thesis, Canberra, ACT : The Australian National University, 1991. http://hdl.handle.net/1885/128737.

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Debt-for-nature swaps are a new phenomenon in world politics. Initiated as a response to third world debt problems and the urgent need for environmental protection, debt-for-nature swaps represent a very interesting development in the areas of international finance, international negotiation and international roles for non-state actors. To date, at least nineteen swaps have taken place, and according to some observers, they fit a niche that will exist for some time to come.

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Kline, Wayne M. "The English Crown's foreign debt, 1544-1557." PDXScholar, 1992. https://pdxscholar.library.pdx.edu/open_access_etds/4366.

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As background to an investigation of the crown's foreign borrowing from 1544 though 1557. this thesis examines the general fiscal situation of the mid-Tudor Commonwealth with special emphasis on the great inflation of the 16th century, the role of Antwerp in European finance. and the relationship between war and English fiscal policy It then examines in detail the creation of the debt under Henry VIII, its development into a standard feature of state finance under Edward VI, and its liquidation under Mary. Information on England and English crown finance was drawn principally from published primary sources while information on the Antwerp market and on continental affairs in general was derived mainly from secondary sources.

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26

Abendanon, Lucille. "Debt relief for economics or debt relief for the people? : a critical analysis of the heavily indebted poor countries initiative." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53347.

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Thesis (MA)--Stellenbosch University, 2003.
ENGLISH ABSTRACT: The HIPC Initiative offers qualifying heavily indebted poor countries the opportunity to renege on their debt obligations in return for an emphatic commitment to poverty reduction and reform. This dissertation assesses the effectiveness of the HIPC Initiative in light of the fact that one third of the world's population continues to live on an average of US$1 per day. In evaluating the HIPC Initiative one simple question is posed: taking into consideration the abject poverty experienced by over a billion people in the developing world, and the urgency with which it must be addressed, is the HIPC Initiative extensive enough, deep enough or broad enough to effectively challenge worldwide poverty? Using quantitative and qualitative research methods, the dissertation investigates this question by examining the divergent points of view offered by the World Bank and IMF on the one hand, and NGOs on the other as they comment on the most hotly debated issues surrounding the effectiveness of the HIPC Initiative. The analysis leads us to an evaluation of the following issues: establishing debt sustainability to qualify for HIPC relief; the issue of conditionality and the use of poverty reduction strategy papers; funding the HIPC Initiative; the likelihood of HIPCs escaping the debt trap after HIPC relief; and finally, how the HIPC Initiative is contributing to attaining the Millennium Development Goals is evaluated. After probing the stances of the World Bank and IMF, and the contrasting views of NGOs the conclusions indicate that the HIPC Initiative is neither extensive, deep nor broad enough to effectively challenge poverty, or to provide indebted poor countries with a lasting escape from the burden of unsustainable debt.
AFRIKAANSE OPSOMMING: Die Heavily Indebted Poor Countries (HIPC) Inisiatief bied aan arm lande met 'n groot skuldlas, wat kwalifiseer vir hulp, die geleentheid om hul skuldverpligtings af te las in ruil vir 'n definitiewe verbintenis tot armoede-vermindering en -hervorming. Hierdie verhandeling evalueer die doeltreffendheid van die HIPC Inisiatief teen die agtergrond van die feit dat een derde van die wêreld se bevolking op 'n gemiddelde van een Amerikaanse Dollar per dag oorleef. Hierdie evaluering van die HIPC Inisiatief stel 'n eenvoudige vraag: Is die HIPC Inisiatief voldoende en uitgebreid genoeg om die uitdaging van wêreldwye armoede aan te spreek indien 'n mens die uiterste armoede van meer as 'n biljoen mense in ontwikkelende gebiede in ag neem, sowel as die dringendheid waarmee dit aangespreek moet word? Deur van kwantitatiewe en kwalitatiewe navorsingsmetodes gebruik te maak, ondersoek die verhandeling hierdie vraag deur uiteenlopende gesigspunte van die Wêreldbank en die Internasionale Monitêre Fonds (IMF) aan die een kant, en Nie- Regerings Orginisasies (NRO's) s'n aan die ander kant, te ondersoek aan die hand van hul kommentaar op die belangrikste kwessies oor die doeltreffendheid van die HIPC Inisiatief. Hierdie ontleding lei tot 'n evaluering van die volgende kwessies: bepaling van lande se potensiaal om met terugbetalings vol te hou ten einde vir hulp deur die HIPC te kwalifiseer; die kwessie van voorwaardelikheid en die gebruik van armoedeverligtingstrategieë; befondsing van die HIPC Inisiatief; die moontlikheid dat die HIPC's die skuldstrikke na toepassing van HIPC-bystand sal ontsnap; en laastens, hoe die HIPC Inisiatief se bydrae tot die bereiking van die Millenium Ontwikkelingsdoelwitte geëvalueer word. Die standpunte van die Wêreld Bank en die IMF sowel as die teengestelde sienings van die NRO's word ondersoek. Die gevolgtrekking toon dat dat die HIPC Insiatief nie uitgebreid, diep of breed genoeg is om armoede doeltreffend hok te slaan nie, of om skuldlastige arm lande te help om finaal van hul skuldlas te ontsnap nie.

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27

Dinneya, Godson Eze. "An analysis of the impact of democratization on debt-led growth : the Nigerian experience, 1970-2000." Thesis, Rhodes University, 2013. http://hdl.handle.net/10962/d1007807.

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The debt-for democracy hypothesis is that undemocratic governments were largely responsible for not only the accumulation but also poor management of externally sourced capital resources. External borrowing had therefore failed to lead to growth of the economies of debtor countries under undemocratic political leadership. Despite this explanation of the debt problem conventional empirical analyses of the debt-growth relationship did not include political institutional variables. This study investigates the relationship between democratization and debt-led growth, using Nigeria, a typical debtor country whose politics was dominated by 'undemocratic ' governance, as a case study. Two broad research questions are investigated namely, whether available data support a negative or positive contribution of debt to the growth of the Nigeria economy during the period 1970-2000; and ifso was there any link between the levels of democratization in Nigeria and debt-led growth. Using a census of major political events in Nigeria around four dimensions of democratization, four primary indices of democratization and one composite index were constructed for the period. Using the Taylor (1983) marginal conditions to gauge the contribution of external debt to the growth of the Nigerian economy, the study found that external debt is capable of playing a double edged sword on the performance of the economy. Positive contributions coincided with the periods when Nigeria's oil dominated foreign exchange revenues were robust, and/ or when debt management strategies were better articulated and vice versa. The analyses of the link between democratization and debt-led growth using both correlation and regression techniques, yielded different results in two definitional contexts of debt-led growth. When defined purely in terms of the Taylor marginal conditions for a positive contribution of debt to the economy of a borrowing nation, the results support the pessimist view that democratization impeded growth. On the contrary, when debt-led growth was defined in a broader sense to incorporate variables such as domestic savings and investment, foreign direct investments, public and private consumption and debt burden, there was strong evidence that debt-led growth performed beller at higher levels of democratization than other wise. The result using the narrow definition was found to be a direct consequence of the overriding influence of export performance in the Taylor conditions. With Nigeria's exports almost entirely dominated by extractive industry the result derived using the narrow definition confirmed the theoretical links between natural resource endowment and regime type on the one hand, and external capital and the nature of the host country 's industry on the other. In the first resource dependence allowed the political leadership to be more detached and less accountable to the electorate since they did not need to levy taxes. Secondly foreign investors concerned with security of their sunk investments in the extractive oil induslly in particular favoured continuity of powerfol regimes with less democratic content. In both findings one thing was common: democratization was associated more with those factors whose decreases affect growth positively than with those whose increases improve growth. The conclusion from this is that the impact of democratization is stronger with negative than with positive growth factors. In other words, while democratization may be supportive of growth its greater impact appears to be in limiting the factors that themselves limit growth. To benefit from the favourable impact of democratisation on debt-led growth therefore the study suggests that improvements in the democratisation process in Nigeria is needed It identifies political education as central to this improvement. A model is developed to show how improvements in the political institutional framework may trickle down, through an enabling environment that is capable of engendering growth-enhancing domestic and international responses to lead in the direction of debt-led growth.

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Lu, Tailai. "International Debt Crisis: Interaction of Economics and Politics." Thesis, North Texas State University, 1987. https://digital.library.unt.edu/ark:/67531/metadc935791/.

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This study attempts to examine the international debt crisis in the 1980s from a primarily political perspective, to permit a greater understanding of the interaction between economics and politics in the course of crisis management The process of dealing with the current international debt crisis provides an pat case for investigation of how economic concerns affect political outcomes, and how political factors influence economic outcomes, and how political factors influence economic policies. This study concentrates on the two regions of Latin America and Eastern Europe where the debt crisis started. The study emphasizes that the international debt crisis started. The study emphasizes that the international debt problem has been increasingly politicized in the contemporary international relations, and that its solution, in addition to the economic aspects, calls for political willingness by all parties concerned.

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29

Youmans, Hernandez Pamela M. "The doctrine of odious debt : a solution for post apartheid South Africa." Honors in the Major Thesis, University of Central Florida, 2005. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/347.

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This item is only available in print in the UCF Libraries. If this is your Honors Thesis, you can help us make it available online for use by researchers around the world by following the instructions on the distribution consent form at http://library.ucf.edu/Systems/DigitalInitiatives/DigitalCollections/InternetDistributionConsentAgreementForm.pdf You may also contact the project coordinator, Kerri Bottorff, at kerri.bottorff@ucf.edu for more information.
Bachelors
Health and Public Affairs
Legal Studies

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30

Shayanewako, V. B. "The impact of foreign debt on economic growth in South Africa." Thesis, University of Fort Hare, 2013. http://hdl.handle.net/10353/d1015140.

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This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.

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31

Jaoui, Abdelhak. "Can the Baker plan work?" Virtual Press, 1987. http://liblink.bsu.edu/uhtbin/catkey/490119.

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The purpose of this study was to analyze, using a medium term scenario of three years, the impact 9f the Baker Plan on the economies of fifteen debt laden countries. A central argument of this scenario was to assess whether growth and creditworthiness would be restored in these countries. A model using projections of debt service, imports, exports and capital requirements was developed to test these variables. Baker's package of $29 billion over three years (1985-1988) was contrasted with the model projections. The findings showed that, in the short-term, Baker's proposal will fall short of restoring growth and creditworthiness. However, the supply side policies suggested by Baker Initiative are the right way to go if the indebted countries are to resume growth and creditworthiness in the long run.

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32

Mansour, Layal. "To what extent can the policy of hoarding international reserves in indebted and dollarized countries be efficient ?" Thesis, Lyon 2, 2014. http://www.theses.fr/2014LYO22008.

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Le premier chapitre de cette thèse étudie l’efficience d’accumulation des RI et de la stérilisation dans les pays dollarisés et endettés, en mesurant le coefficient de stérilisation, et le coefficient de retournement. Ce chapitre explore le lien existant entre les sources des réserves et les dettes externes. En appliquant le modèle de régression 2SLS, nous identifions les variables explicatives qui nous permettent d’estimer les coefficients cités. Les résultats obtenus indiquent que malgré l’application théorique et correcte de la politique de stérilisation, les contraintes économiques contribuent à réduire l’efficience attendue des politiques monétaires. Le deuxième chapitre consiste à envisager les probabilités des pays endettés de tomber en crises financières malgré le fait qu’ils accumulent les réserves internationales agissant en tant que choc modérateur et/ou auto-assurance. Nous utilisons l’Indicateur de Stress Financier ISF, proposé par Balakrishnan et al (2009) et le FMI qui couvre les divers aspects de crises financières. Nous appliquons le modèle Markov Switching à probabilité variée. Nous obtenons comme résultat que les dettes augmentent la probabilité qu’un pays souffre d’une crise financière, par contre, les RI ne procurent pas forcément les « paix » dans l’économie, à l’exception des quelques cas. Cependant, les effets négatif des dettes emportent sur les effets positifs des RI surtout dans les pays relativement plus dollarisés. Le troisième chapitre mesure tout d’abord le degré des indices du trilemme: Stabilité du taux de change, indépendance monétaire et ouverture du compte capital, tout en tenant compte de l’accumulation des ratios RI par rapport au PIB ou Dettes Externes ou Dettes Externes (DE) à court terme. L’évolution des indices du trilemme montre que les pays qui adoptent « de facto » un taux de change flexible, profitent des avantages des RI pour adopter un régime de taux de change administré, qui consiste à atteindre simultanément les trois objectifs du trilemme sans renoncer à un d’eux. Les interprétations peuvent changer si les RI sont prises en fonctions des dettes, autrement dit, l’utilisation des RI/Dettes devrait être envisagée dans de telles études. Ensuite, nous trouvons qu’en ce qui concerne les pays qui adoptent de facto un régime de taux de change fixe, les RI (différents ratios) ne jouent aucun rôle quant à l’évolution du triangle de Mundell et n’interviennent pas dans les décisions politiques monétaires des autorités monétaires. Enfin, ce chapitre traite l’aspect normatif du trilemme, reliant les choix politiques aux résultats macroéconomiques tels que la volatilité de la croissance de production. Nous remarquons que les résultats sont différents selon les pays, et dépendent des différents ratios de mesure du RI. Nous concluons que l’impact des RI sur la volatilité de la croissance de production peut changer selon le niveau des DE et selon le régime de taux de change adopté
The first chapter of this thesis investigates the efficiency of Hoarding IR and Sterilization in dollarized and indebted countries by measuring the sterilization coefficient, and the offset coefficient. It also focuses on exploring the link between the sources of Reserves and the external debt. We applied a 2SLS regression models and we identified explanatory variables that enabled us to estimate the aforementioned coefficients. Our results show that despite their theoretical correct practice of sterilization policy, economic constrains contribute to weaken the efficiency expected from monetary policies. The second chapter consists of estimating the probability whether an indebted country is vulnerable to crises despite its accumulation of IR -acting as a buffer stock and self-insurance. We use the Financial Stress Indicator (FSI) proposed by Balakrishnan et al (2009) and IMF which covers several aspects of financial crisis- and apply the Markov switching model with time varying, We found that debt had increased the likelihood for a country to suffer from financial crisis, however IR did not necessarily provide “Peace” in the indebted countries except of some exceptions. Thus, consistent with, Calvo (2003, 2006), who found that a country that has an excessive external debt, hoarding reserves will not be sufficient to avoid a crisis, but may be useful during the "sudden stop" crises, we conclude that the deleterious effects of ED might outweigh in most cases the beneficial effects of IR especially in more dollarized countries The third chapter measures first, the degree of trilemma indexes: exchange rate stability, monetary independence and capital account openness while taking into account the increase of hording IR ratio over GDP, over External Debt and over Short Term External Debt. The evolution of the trilemma indexes shows that countries applying de facto flexible Exchange Rate Regime (ERR) take advantage of the IR and become able to adopt a managed ERR that consist of achieving the three trilemma indexes simultaneously without renouncing to anyone of them. We found that different IR ratio could have different interpretations and different directions of monetary policies, where external debt should be taken into consideration in such study while using the IR. As for the country that is applying a de facto fixed exchange rate regime, the IR (different ratio) do not play any role in changing the patter of the Mundell trilemma and do not intervene in monetary authority policies. This chapter treats as well the normative aspects of the trilemma, relating the policy choices to macroeconomic outcomes such as the volatility of output growth. We found different results from country to another, while taking different ratios of measuring IR, concluding that the impact of IR on the output volatility could change due to the level of external debt and adopted exchange rate regime

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Hompashe, Dumisani MacDonald. "Is inflation targeting a viable option for a developing country?: the case of Malawi." Thesis, Rhodes University, 2009. http://hdl.handle.net/10962/d1002676.

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The distinctive features of inflation targeting include the publishing of the formal (official) target band or point target for the rate of inflation at one or more time horizons and the explicit confirmation that low and steady inflation is the long-run objective of monetary policy. There are four main preconditions of inflation targeting: 1) an independent central bank that is free from fiscal and political pressures; 2) a central bank that has both the ability to forecast inflation and the capability to model inflation data; 3) the presence of fully deregulated prices and an economy that is affected by changes of commodity prices, as well as exchange rates; and 4) the presence of sound banking system and well developed capital markets. In most developing countries, the use of seigniorage revenues as a source of financing government debts, the lack of commitment by monetary authorities to low inflation as a primary goal, the absence of the central bank’s functional independence, and of powerful models to make domestic inflation forecasts, prevent the satisfaction of these preconditions. This dissertation investigates the extent to which Malawi meets the preconditions for inflation targeting by comparing the situation in that country to other developing countries, which have already adopted the framework. Malawi is committed to the central bank’s functional independence as well as the pursuit of prudent fiscal policy measures for the attainment of low inflation. Despite the failure to meet all the preconditions, this study recommends that Malawi should adopt an inflation targeting framework due to the strength of commitment of the monetary authorities in satisfying these preconditions.

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Menezes, Henrique Zeferino. "A crise do desenvolvimento brasileiro : dívida externa, condicionalidades e as relações com o Fundo Monetário Internacional e Banco Mundial (1974-1987) /." São Paulo : [s.n.], 2008. http://hdl.handle.net/11449/98113.

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Orientador: Reginaldo Carmello Corrêa de Moraes
Banca: Sebastião Velasco Cruz
Banca: Javier Alberto Vadeli
O Programa de Pós-Graduação em Relações Internacionais é instituído em parceria com a Unesp/Unicamp/PUC-SP, em projeto subsidiado pela CAPES, intitulado "Programa San Tiago Dantas"
Resumo: Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais - Fundo Monetário Internacional e Banco Mundial - no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil.
Abstract: This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis; and the role played by international institutions - International Monetary Fund and World Bank - in the process of renegotiation of the Brazilian debt with commercial banks and in the driving of Brazilian economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness.
Mestre

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Menezes, Henrique Zeferino [UNESP]. "A crise do desenvolvimento brasileiro: dívida externa, condicionalidades e as relações com o Fundo Monetário Internacional e Banco Mundial (1974-1987)." Universidade Estadual Paulista (UNESP), 2008. http://hdl.handle.net/11449/98113.

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Made available in DSpace on 2014-06-11T19:29:14Z (GMT). No. of bitstreams: 0 Previous issue date: 2008-02-26Bitstream added on 2014-06-13T19:17:38Z : No. of bitstreams: 1 menezes_hz_me_mar.pdf: 838664 bytes, checksum: 0fd9959eaf6da7d878fcab6f7cd8db3f (MD5)
Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)
Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais – Fundo Monetário Internacional e Banco Mundial – no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil.
This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis; and the role played by international institutions – International Monetary Fund and World Bank – in the process of renegotiation of the Brazilian debt with commercial banks and in the driving of Brazilian economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness.

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Menezes, Henrique Zeferino de 1981. "A crise do desenvolvimento brasileiro : divida externa, condicionalidades e as relações com o Fundo Monetario Internacional e Banco Mundial : (1974-1987)." [s.n.], 2008. http://repositorio.unicamp.br/jspui/handle/REPOSIP/279243.

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Orientador: Reginaldo Carmello Correa de Moraes
Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Filosofia e Ciencias Humanas
Made available in DSpace on 2018-08-10T02:30:05Z (GMT). No. of bitstreams: 1 Menezes_HenriqueZeferinode_M.pdf: 1177686 bytes, checksum: 4841fc8de33bb72bacd2d66026718bc3 (MD5) Previous issue date: 2008
Resumo: Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais - Fundo Monetário Internacional e Banco Mundial - no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil
Abstract: This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis;. and the role played by international institutions - International Monetary Fund and World Bank - in the process of enegotiation 01 the Brazilian debt with commercial banks and in the driving 01 B7 economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness
Mestrado
Relações Internacionais
Mestre em Relações Internacionais

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Apps, Peter, and n/a. "Debt Crises, IMF Policies and Structural Inequality in the Third World." Griffith University. School of Humanities, 2003. http://www4.gu.edu.au:8080/adt-root/public/adt-QGU20031010.143327.

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The neo-liberal policies of liberalization and deregulation, as utilized by the International Monetary Fund (IMF) in its dealings with countries of the developing world, tend to facilitate the conditions for financial crisis. This can be traced by examining the economic crises of Mexico in 1982 and 1994/95, Asia in 1997 and Russia in 1998 and looking at the main causes and triggers of these crises. It is evident that the financial vulnerability that these countries suffered from existed due to, and not in spite of, these policy prescriptions. The IMF continues to present these policies as proven successes - a view that this dissertation contests. Further to this, the policies that the Fund uses are formulated for use in semi-peripheral economies and have little relationship to the actual economic environments of peripheral countries such as those of sub-Saharan Africa or Papua New Guinea. The ideology of free-markets and globalization is seen as unassailable by the IMF. By encouraging countries to remain part of the global financial system through debt rescheduling and open-markets policies, the IMF holds an increasingly fragile economic environment together. This dissertation formulates and tests four hypotheses in relation to Mexico, Asia, Russia and Papua New Guinea and the periphery. These are - (1) If there are periods of 'irrational exuberance' among investors in Third World debt, these are likely to contribute to debt crises. (2) If IMF policies are implemented in the Third World as dictated, then their primary benefits will accrue to the elites in those countries and in the developed world. (3) If Third World countries open their economies to foreign capital, then they are more likely to experience debt crises. (4) If IMF policies are implemented in peripheral countries, then they are even less likely to be successful than in semi-peripheral countries.

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Apps, Peter. "Debt Crises, IMF Policies and Structural Inequality in the Third World." Thesis, Griffith University, 2003. http://hdl.handle.net/10072/367067.

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Abstract:

The neo-liberal policies of liberalization and deregulation, as utilized by the International Monetary Fund (IMF) in its dealings with countries of the developing world, tend to facilitate the conditions for financial crisis. This can be traced by examining the economic crises of Mexico in 1982 and 1994/95, Asia in 1997 and Russia in 1998 and looking at the main causes and triggers of these crises. It is evident that the financial vulnerability that these countries suffered from existed due to, and not in spite of, these policy prescriptions. The IMF continues to present these policies as proven successes - a view that this dissertation contests. Further to this, the policies that the Fund uses are formulated for use in semi-peripheral economies and have little relationship to the actual economic environments of peripheral countries such as those of sub-Saharan Africa or Papua New Guinea. The ideology of free-markets and globalization is seen as unassailable by the IMF. By encouraging countries to remain part of the global financial system through debt rescheduling and open-markets policies, the IMF holds an increasingly fragile economic environment together. This dissertation formulates and tests four hypotheses in relation to Mexico, Asia, Russia and Papua New Guinea and the periphery. These are - (1) If there are periods of 'irrational exuberance' among investors in Third World debt, these are likely to contribute to debt crises. (2) If IMF policies are implemented in the Third World as dictated, then their primary benefits will accrue to the elites in those countries and in the developed world. (3) If Third World countries open their economies to foreign capital, then they are more likely to experience debt crises. (4) If IMF policies are implemented in peripheral countries, then they are even less likely to be successful than in semi-peripheral countries.
Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
School of Humanities
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39

Stefanoudakis, Johannes H., Diego R. Calvo, and Marcelo Tames. "External Debt and Economic Growth." Thesis, Mälardalen University, School of Sustainable Development of Society and Technology, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-6843.

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Throughout the years most countries have incurred in borrowing money in order to finance many of their operations. Those loans and their accumulation have either benefited or impaired those countries’ ability to grow.

In this report we examine several factors that affect the gross domestic product (GDP) and their levels of impact with the sole purpose of inferring the relationship between debt and GDP. In addition, we will propose a cut-off point from which additional debt results in negative growth.

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Mbroh, Francis Kingsley. "Ghana : external debt problem and growth." Thesis, SOAS, University of London, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.407659.

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

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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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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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Sivakumar, Sivalingam. "Dancing on the edge : the dynamics of external debt in the United States, South Korea and Argentina." Thesis, 1987. http://hdl.handle.net/2440/109242.

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Vacs, Aldo César. "The politics of the foreign debt Argentina, Brazil and the international debt crisis /." 1986. http://catalog.hathitrust.org/api/volumes/oclc/19009354.html.

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Stafford, Walter J. "A comparative analysis of Latin American external debt, 1981-1985 Venezuela, a case study /." 1989. http://catalog.hathitrust.org/api/volumes/oclc/23037435.html.

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

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FISCHER-LESCANO, Andreas. "Odious debts : Soziale Differenzierung in der Weltgesellschaft und das ius gentium." Doctoral thesis, 2003. http://hdl.handle.net/1814/5517.

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Dissertations / Theses on the topic 'External debts'

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