Artykuły w czasopismach na temat „Debtor countries”
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Кубанцев, Сергей, i Sergey Kubantsev. "Historical Aspect of Criminal Liability for Fraudulent Bankruptcy in Russia and Foreign Countries". Journal of Russian Law 4, nr 12 (5.12.2016): 0. http://dx.doi.org/10.12737/22725.
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The article highlights the issues of legal regulation of public relations related to the unfair bankruptcy, in their historical aspect. It outlines the legislative instruments used by foreign countries and Russia for regulating of liability for bankruptcy in the period up to the 19 century. The author studied the laws of foreign countries and the Russian legislation, which contains provisions on liability for bankruptcy, the regulation of the debtor´s property distribution of priority, as well as differentiation of debtors to those who can not meet its debt obligations, and those who simply do not want to fulfill its debt obligations (malicious insolvency). Due to this situation the questions about the time of distinguishing the respective responsibilities of the bankrupt entity are arise. The author mentioned the move away from a single penalty for any debtor who is unable to pay its debts, which depends solely on the fact of the debt of non-payment, in the direction of several forms of punishment, depending on the fault of the debtor in its own bankruptcy, differentiation punitive and coercive measures of material nature, the development of methods and means of implementation creditors´ rights.
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Kraay, A., i J. Ventura. "Current Accounts in Debtor and Creditor Countries". Quarterly Journal of Economics 115, nr 4 (1.11.2000): 1137–66. http://dx.doi.org/10.1162/003355300555033.
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Decoodt, Patrick. "The Foreign Debt Problem of Africa". Afrika Focus 3, nr 1-2 (12.01.1987): 1–30. http://dx.doi.org/10.1163/2031356x-0030102002.
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The foreign debt problem of Sub Saharan Africa {SSA), although an important obstacle against economic growth, is not the region's major economic problem. The creditors are less concerned about the relative small debt figures of SSA because of the lower risks for the equilibrium of the financial system. But from the debtors' viewpoint, the debt situation is possibly even more critical in low-income Africa than in the richer major debtor countries. SSA has a predominance of official creditors with the best obtainable credit terms. Notwithstanding these good terms, SSA is so poor that it has difficulties with fulfilling its debt service. There is no single solution for the African debt crisis. Anyway the official creditors have to adopt a more flexible attitude. The debtor countries have also to accept their own responsibility in the solutions of the problem.
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Warren, Stanton A., i J. Thomas Romans. "THE DEBTOR/CREDITOR STATUS OF WESTERN HEMISPHERE COUNTRIES". Financial Review 21, nr 3 (sierpień 1986): 92. http://dx.doi.org/10.1111/j.1540-6288.1986.tb00756.x.
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Fernandez, Raquel, i Jacob Glazer. "The scope for collusive behavior among debtor countries". Journal of Development Economics 32, nr 2 (kwiecień 1990): 297–313. http://dx.doi.org/10.1016/0304-3878(90)90040-i.
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Suherman, Suherman. "UPAYA MEDIASI DALAM PENYELESAIAN SENGKETA DI LEMBAGA PERBANKAN". Jurnal Yuridis 4, nr 2 (11.01.2018): 178. http://dx.doi.org/10.35586/.v4i2.250.
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In many countries the use of mediation as a method of dispute settlement was initially voluntary. The banking dispute that begins with a costumer’s complaint against the services of a bank which is not responded, will cause a dispute. The banking dispute can also occur due to contractual relationship between bank and debtor. There is several action that can be done by debtor for doing banking mediation, namely debtor has meeting with bank party to ask explanation for mediation, if acknowledge and understand so debtor can propose a mediation process to the implementation of banking mediation function, the debtor follows the mediation process and put it into an agreement. In this case, author also describe the benefits and weakness about banking mediation.
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Syaifullah, Imam, i Surya Sakti Megantoro. "Ruling due to Bankruptcy Assets Debtors Beyond Areas in Indonesia". Lambung Mangkurat Law Journal 6, nr 1 (5.02.2021): 1–11. http://dx.doi.org/10.32801/lamlaj.v6i1.201.
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The purpose of this study is to examine the consequences of bankruptcy decisions on debtor assets outside the territory of Indonesia and to see the extent to which the bankruptcy law provides protection to creditors from debtors whose assets are located outside the territory of Indonesia. This is Normative legal Research with a statutory approach, a conceptual approach and a comparative approach. The results and discussion concluded that the bankruptcy decision handed down by the Commercial Court in Indonesia could have an impact on the debtor’s assets outside the territory of Indonesia in accordance with Article 21 of the Bankruptcy Law. The issue of execution is hindered by the principle of territoriality from other countries. The bankruptcy law has not fully provided legal protection for creditors if the debtor has assets outside the territory of Indonesia, as a way for curators to carry out private selling. Indonesia should adopt the Uncitral Model Law on cross-border insolvency (1997) or enter into international agreements, either bilateral or multilateral.
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Dimitriu, Cristian. "Odious Debts and International Fair Trade". Daímon, nr 76 (9.01.2019): 79–94. http://dx.doi.org/10.6018/daimon/275011.
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I argue that one of the most important reasons why international trade has been unfair is that weaker parties in trading negotiations have been illegitimately forced to accept terms of trade that they would not otherwise accept under normal circumstances, and these terms of trade have been harmful for them. Odious debts are at the center of this kind of injustice. Odious debts are debts that are not binding for the citizens of a country, as they were incurred by illegitimate rulers in the name of all the citizens, but used for private purposes, such as personal benefit, or to oppress the population. Despite the fact that these debts are not binding—that is, that they should not be repaid—creditor countries have coerced debtor countries to repay them and, more importantly for the purposes of this article, they have taken advantage of the fact that countries are burdened with these debts by tailoring trade agreements in their favor. They have done so by telling debtor countries that, unless they trade under terms that creditor countries want; non-binding (i.e. odious) debts will be enforced. The resulting state of affairs is not simply a convenient one for creditor countries and an inconvenient one for debtor countries. It is also an immoral one.
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Marquez, Jaime R., i Caryl McNeilly. "Can Debtor Countries Service Their Debts? Income and Price Elasticities for Exports of Developing Countries". International Finance Discussion Paper 1986, nr 277 (kwiecień 1986): 1–54. http://dx.doi.org/10.17016/ifdp.1986.277.
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Setiawan, Asep, Djoni Gunanto, Hamka i Muhammad Yusuf Saputra. "THE IMPACT OF FOREIGN DEBT ON IMPLEMENTATION OF INDONESIA'S FOREIGN POLICY 2014-2022". Jurnal Arajang 5, nr 2 (31.12.2022): 119–35. http://dx.doi.org/10.31605/arajang.v5i2.2142.
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A country's foreign debt is aimed at maintaining economic growth. However, in practice, it also affects bilateral relations and international behavior. Indonesia has accumulated foreign debt reaching Rp 7000 trillion from various countries and institutions. This study aims to examine the impact of foreign debt on Indonesia's foreign policy during Joko Widodo's administration from 2014-2022. The study uses a qualitative approach, with data collected through interviews of government officials and academics as well as analysis of document sources. This research uses the concepts of foreign debt, foreign policy, and complex interdependence. The results showed three patterns of Indonesia's foreign relations with debtor countries. First, Indonesia establishes positive relationships with debtor countries. Second, Indonesia avoids getting involved in conflicts with cricket-giving countries on a number of bilateral issues. Third, Indonesia is reluctant to criticize creditors involved in bilateral and international issues while carrying out free and active foreign policy.
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Jain, P. K., i Surendra S. Yadav. "Current Assets Management: A Comparative Study of India, Singapore and Thailand". Vision: The Journal of Business Perspective 4, nr 2 (lipiec 2000): 5–19. http://dx.doi.org/10.1177/097226290000400202.
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The management of current assets (CA) such as cash, marketable securities, inventory and debtors, etc. is a vital aspect of corporate finance. These assets must be managed efficiently in order to maintain the liquidity of the firm while also ensuring that they are not kept at high levels either. This paper presents an empirical study, based on the data of corporate enterprises of India, Singapore and Thailand. Comparative practices with regard to CA management of the three countries have been examined. It has been observed that Singapore companies carry excessive cash balances, much more than the normal requirement. As regards inventory levels, Indian and Thai companies hold on average about 40 per cent of CAs as inventory as against 25 per cent in Singapore. It is noteworthy that the debtor-to-CA ratio is almost the same (about 33%) in all the three countries.
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Ekart, Andrej, i Sylvia Zangl. "The Admissibility of Defences against the Substantive Claim in Cross-Border Enforcement of Judgments in Europe". Lex localis - Journal of Local Self-Government 9, nr 4 (19.10.2011): 311–33. http://dx.doi.org/10.4335/9.4.311-333(2011).
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Authors discuss the admissibility of defences against the substantive claim (e.g. objection of the debtor that the enforceable claim has been discharged) in cross-border enforcement in Europe. In the context of Regulation 44/2001 in some countries, like Germany, courts have admitted such defences in exequatur proceeding. In other countries, like Slovenia and Austria, such objections have to be asserted with legal remedies of the national execution law. Debtor can defend himself against European enforcement order, order for payment and small claims judgment with legal remedies of national execution law, if he has discharged the debt after the rendering of decision.
Keywords: • cross-border enforcement • European enforcement order • European order for payment • European small claims procedure • international jurisdiction • EU
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Biglaiser, Glen, i Ronald J. McGauvran. "The effects of debt restructurings on income inequality in the developing world". European Journal of International Relations 27, nr 3 (25.03.2021): 808–29. http://dx.doi.org/10.1177/13540661211001425.
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Developing countries, saddled with debts, often prefer investors absorb losses through debt restructurings. By not making full repayments, debtor governments could increase social spending, serving poorer constituents, and, in turn, lowering income inequality. Alternatively, debtor governments could reduce taxes and cut government spending, bolstering the assets of the rich at the expense of the poor. Using panel data for 71 developing countries from 1986 to 2016, we assess the effects of debt restructurings on societal income distribution. Specifically, we study the impact of debt restructurings on social spending, tax reform, and income inequality. We find that countries receiving debt restructurings tend to use their newly acquired economic flexibility to reduce taxes and lower social spending, worsening income inequality. The results are also robust to different model specifications. Our study contributes to the globalization and the poor debate, suggesting the economic harm caused to the less well-off following debt restructurings.
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Panageotou, Steven, i Jon Shefner. "Crisis Management and the Institutions of Austerity: A Comparison of Latin American and Greek Experiences". Comparative Sociology 14, nr 3 (11.08.2015): 301–27. http://dx.doi.org/10.1163/15691330-12341349.
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The proliferation of debt crises around the world since the 1980’s has generated debt-repayment negotiations prioritizing austerity in debtor countries. This forty-year history of debt crises in the Global South and North now allows comparison of these negotiations and their impacts. We examine the distinct and historically specific trajectories in Latin American and Greece, highlighting the foundations of each experience of debt crisis. We focus on the institutions responsible for managing crisis and their reliance on similar austerity strategies to compel debtor countries into a neoliberal restructuring of their economies. This paper examines the similarities and differences in austerity policy through a comparative-historical analysis of Latin American and Greek experiences of debt crisis. The results of such policies and the political actors involved in implementing austerity are also examined.
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Voronko, Oleksii. "APPLICATION OF ASTRENT UNDER THE LEGISLATION OF CERTAIN COUNTRIES OF THE EUROPEAN UNION AND RUSSIA". Scientific and Informational Bulletin of Ivano-Frankivsk University of Law Named after King Danylo Halytskyi, nr 8 (26.12.2019): 127–34. http://dx.doi.org/10.33098/2078-6670.2019.8.20.127-134.
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Purpose. The purpose of the article is to study the content and comparative analysis of the mechanisms for the use of asthma in France, the Benelux countries, Germany, Italy, Portugal, Russia, as well as its regulation by EU legislation. Method. The methodology involves a comprehensive analysis and generalization of available scientific and theoretical material and the formulation of relevant conclusions and recommendations. The study used the principles of objectivity and integrity, as well as general scientific, special legal and philosophical methods of scientific knowledge: induction, deduction, analysis, synthesis. Comparative, functional and legal. Results: The study found that an asthma was a means of influencing a debtor to fulfill his obligations voluntarily. This remedy is based on the idea that the prospect of paying a higher sum than that arising from the obligation should force the debtor to execute the decision without delay. Over time, the use of astringent has proven to be particularly effective in enforcing binding decisions and in taking action to secure a claim or evidence. An asterant is an indirect way of enforcing a judgment and acts as an influence or pressure on the obliged party to enforce the court decision. In this case, the payment of the asthma does not release the debtor from the obligation, which is confirmed by the executive document. Scientific novelty. Analyzing the international experience, it is argued that it is advisable to use the astringent procedure in the Ukrainian civil law. Practical significance. The results of the study can be used in law-enforcement and law-enforcement activities in the investigation of crimes related to financial misconduct.
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Nowak-Far, Artur. "The European Union, its Economic and Monetary Union, and the (Apparent) Perception of Crisis Reflected in Immediate Regulatory Actions". Polish Review of International and European Law 9, nr 2 (14.11.2020): 147–68. http://dx.doi.org/10.21697/priel.2020.9.2.06.
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While neither its institutional, nor legal arrangements fundamentally contributed to the emergence of the Eurozone crisis in the late 10’s of the 21st Century, the crisis exposed significant weaknesses of the EU economic governance, especially its inability to achieve a sustainable level of budgetary discipline. The crisis in particular highlighted the existing divisions of the EU Member States into different integration groups having divergent interests. Notably, it sharpened the division between the Eurozone states and non-Eurozone ones, as well as between the creditor-countries and debtor-countries. The EMU reform agenda adopted after 2008 gave more weighting to the interests of the former states. The emerging post-2008 economic governance-reform arrangements also gave more weight to the ECOFIN Council, at an expense of the European Commission. In the resulting institutional setting, the main aim of the EMU reform agenda was to assure the stability of the Eurozone and to reinforce its resistance to economic shocks. In this context, however, benefits arising from the reformed EMU are unevenly distributed, as they are more likely to avail the Eurozone countries than non- Eurozone countries, and more the creditor countries than the debtor ones.
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Kalika, Satya Narayan. "Contract of Suretyship in Nepal: Analysis with Provisions and Precedents". Management Dynamics 24, nr 1 (4.07.2021): 139–50. http://dx.doi.org/10.3126/md.v24i1.47554.
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The superstructure of guarantee contract stands on the basis of the Surety who takes responsibility of principal debtor and ensures to perform liability to the Creditor in case the debtor defaults. The purpose of this study is to analyze the role of surety in the contract of suretyship on the basis of legal frameworks and judicial decisions of Supreme Court of Nepal and common law countries. As a doctrinal Research, it will adopt exploratory doctrinal and analytical research design. It is based on the doctrinal sources. It uses the qualitative data; collected from both primary as well as secondary sources of law.
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Pettifor, Ann. "Resolving International Debt Crises Fairly". Ethics & International Affairs 17, nr 2 (wrzesień 2003): 2–9. http://dx.doi.org/10.1111/j.1747-7093.2003.tb00432.x.
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If global economic justice is to be achieved, debt crises must be assessed within the broader context of the international financial system. This system, which has been largely imposed by a small group of powerful financial agents in the Organisation for Economic Co-operation and Development countries, has led to instability and recurrent financial crises that have severely harmed the interests of poor countries and their people. Responsibility for bearing the costs of debt crises and other negative effects of the prevailing international financial system should therefore be assumed by those who have contributed to bringing them about. At present, however, the burden of economic “adjustments” during debt crises has fallen disproportionately on poor debtor nations, and debates regarding debt management have been dominated by individual, corporate, and official creditors. This essay presents the case for institutional reforms that can better protect the human rights of citizens of sovereign debtor nations during debt crises.
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Trubina, M. V., i A. V. Sereda. "GENERALIZATION OF THE WORLD PRACTICE OF RISK ANALYSIS IN TAX DEBT MANAGEMENT". Legal horizons, nr 18 (2019): 148–54. http://dx.doi.org/10.21272/legalhorizons.2019.i18.p148.
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The article is devoted to the world experience of tax debt management. The authors discuss the experience of organizing public administration of tax debt of OECD countries and European Union countries, which may become a benchmark for the development of the tax debt administration system in Ukraine. It is in the context of European integration that it is necessary to find ways to improve the administration of tax debt on the basis of new approaches that meet the goals and objectives of the state in the tax field. A clear division of taxpayers with tax debt into segments and sub-segments according to the risk factors of debt repayment will make changes to the organization of the administration of tax debt in order to prevent the emergence and accumulation of new debts before the budget and ensure the repayment of existing ones. The problems of tax debt optimization are investigated. Risk oriented approaches to tax debt management are considered. In the process of research, the countries in which the controlling authorities are noted for their efficiency in particular in paying off tax debt are highlighted. Debtor segmentation criteria and priority areas for improving tax debt administration procedures in the context of the implementation of the global experience are identified and systematized, and taxpayer segmentation criteria for tax debt are further substantiated to further determine priorities in tax administration. The proposed approaches are based on the study of foreign experience and take into account the factors of value and probability of repayment of tax debt. Tax debt administration strategies are applied to each segment of debtors. Emphasis is placed on the need to apply an individual approach to the debtor in the application of impact measures to collect a tax debt. Tactical and strategic measures to collect taxpayer debt are summarized. Keywords: tax debt, collection authorities, tax debt management, taxpayers, automated analytical models.
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Rudakova, O. Yu, i T. A. Rudakova. "COMPLETENESS AND ACCURACY OF THE DEBTOR FINANCIAL ANALYSIS IN BANKRUPTCY PROCEEDINGS". Strategic decisions and risk management, nr 1 (25.10.2014): 76–83. http://dx.doi.org/10.17747/2078-8886-2013-1-76-83.
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The state of national innovation systems of Russia and EU countries in the context of these systems elements interaction with industrial enterprises is analyzed in the article. It is determined that it is necessary to significantly increase the role of enterprises in the national innovation system and the enterprises should keep to the proactive innovation policy for the long-term stable development of the Russian economics.
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Parkhomenko, A. D. "Similarities and Differences of Approaches to the Legal Regulation of Subsidiary Liability of Persons Controlling the Debtor in Russian and Foreign Law". Actual Problems of Russian Law 16, nr 12 (25.10.2021): 35–44. http://dx.doi.org/10.17803/1994-1471.2021.133.12.035-044.
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The paper constitutes a comparative legal study of some aspects of subsidiary liability of persons controlling the debtor and its foreign counterparts. Taking into account the experience of foreign countries in the regulation of these relations, the author draws parallels between different approaches to this legal phenomenon using foreign literature and judicial practice. The key aspect of the problem of liability of persons controlling the debtor is the existence of two opposite legal principles: organizational and property isolation of a legal entity and inadmissibility of abuse of the right. Bringing the persons controlling the debtor to subsidiary liability makes it possible to erase the boundaries of isolation of a legal entity and to identify its property with the property of its controlling persons for the purpose of satisfying the creditors’ claims. Thus, creditors of a legal entity have the opportunity to restore the violated right at the expense of the property of a de facto third party that is not a party to the original obligations. In foreign legal orders, the study of this ratio takes place over a long period. During this time, a certain theoretical understanding was formed, as well as law enforcement practice in this area.
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Prusak, Błażej, Sylwia Morawska, Michał Łukowski i Przemysław Banasik. "The impact of bankruptcy regimes on entrepreneurship and innovation. Is there any relationship?" International Entrepreneurship and Management Journal 18, nr 1 (14.12.2021): 473–98. http://dx.doi.org/10.1007/s11365-021-00773-3.
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AbstractThe literature review indicates that bankruptcy law may play an important role in and be one of the factors influencing the development of entrepreneurship, innovation, and thus economic growth, among other things. In previous studies, the analysis of the impact of bankruptcy law on individual variables has been conducted independently. Our aim was to conduct a holistic analysis, taking several factors into account simultaneously. Therefore, a descriptive model was proposed, based on which the following research hypothesis was formulated: In countries characterised by an effective legal system and at the same time debtor-friendly bankruptcy law, the level of risk acceptance among entrepreneurs is higher, which is reflected in higher levels of entrepreneurship and innovation. Based on the selected variables, a cross-sectional analysis was conducted using linear models estimated on the basis of the least-squares method. Additionally, to strengthen the conclusions drawn, the models were assessed in such a way enabling the analysis of causality as defined by Granger based on the two-step process. The results obtained allowed us to confirm the research hypothesis: in countries characterised by an efficient legal system and at the same time debtor-friendly bankruptcy law, the level of risk acceptance among entrepreneurs is higher, which is reflected in higher levels of entrepreneurship and innovation. The research results are particularly important from the point of view of legislators who are responsible for drafting amendments to bankruptcy law. Including certain debtor-friendly provisions may, in the long run, lead to increased entrepreneurship and innovation, and thus economic development.
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Višekruna, Aleksandra. "Radni odnosi u stečaju / Labour Relations in Bankruptcy". Годишњак факултета правних наука - АПЕИРОН 6, nr 6 (11.07.2016): 194. http://dx.doi.org/10.7251/gfp1606194v.
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Opening of bankruptcy procedure causes numerous consequences that affect the debtor in insolvency and all the persons connected with it. Since employees have the strongest bond with their employer - debtor, special treatment is given to the effect of insolvency on labor contracts. Faith of these contracts in bankruptcy procedure depends upon many factors, but nowadays in majority of countries commencement of bankruptcy does not necessarily mean automatic termination of employment. Since Serbian law has known, during the course of history, both approaches, in this paper we have addressed both of them, and we have pointed out numerous dilemmas that had risen due to imprecise norms. The current Law has accepted more modern concept and sees bankruptcy as a reason for dismissal. However, the Law has not resolved numerous issues that give rise to different interpretations.
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Jeanne, Olivier. "Debt Maturity and the International Financial Architecture". American Economic Review 99, nr 5 (1.12.2009): 2135–48. http://dx.doi.org/10.1257/aer.99.5.2135.
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This paper presents a theory of the maturity of international sovereign debt, and derives its implications for the reform of the international financial architecture. The analysis is based on a model in which the need to roll over external debt disciplines the policies of debtor countries, but makes them vulnerable to unwarranted debt crises due to bad shocks. The paper presents a welfare analysis of several measures that have been discussed in recent debates, such as international lending-in-last-resort or the establishment of a mechanism for suspending payments on the external debt of crisis countries. (JEL F34, O19)
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Jedlicki, Claudio. "Évolution des rapports entre les États débiteurs de l’Amérique latine et les créanciers occidentaux". Études internationales 16, nr 1 (12.04.2005): 37–53. http://dx.doi.org/10.7202/701793ar.
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This article is about the problem of the debt incurred by countries of Latin America, preference being given to the notion of net transfer of currency as being the main element which can explain relations between debtors and creditors. It shows that the recent evolution in the attitude of the debtor states, as has been apparent since the meeting at Quito, in January 1984, up to that at Mar del Plata in September 1984, is accounted for by the inversion of the flow of the net transfer of money. Latin America today has become a net exporter of currency. Similarly, the future evolution between the pursuance of the monetary adjustment and the cessation of payment will be determined, in a large measure, by the scope and the meaning lying behind the net transfer of borrowed money. The economical, social and political consequences deriving from the actual reimbursement of the debt are such that they may promote the advent of regimes which will be compelled to implement deep structural reforms. Whether this comes about or not will depend a lot on the creditors.
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Kahler, Miles. "Politics and international debt: explaining the crisis". International Organization 39, nr 3 (1985): 357–82. http://dx.doi.org/10.1017/s0020818300019123.
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Since mid-1982 the existence of a “debt crisis” has been almost universally acknowledged; many would argue that the crisis had existed unrecognized for much longer, despite alarms sounded regularly over the preceding decade. The definition of the crisis in the Northern industrial countries was remarkably uniform: the onset of widespread difficulties in servicing the mountain of developing country debt threatened the stability of the international financial system. The nightmare in the North was an episode of onrushing financial collapse in the mold of those described so vividly by Charles Kindleberger—a default by a major debtor country (or domino defaults by debtors large and small), followed by the failure of a major bank or banks, a collapse of confidence in the financial system, and ultimately a sharp contraction of economic activity and international trade. The model was that of a panic; the fear, that the financial system, which had appeared so robust in dealing with successive shocks in the 1970s, might prove less so in the harsher circumstances of the 1980s.
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Menguy, Séverine. "Efficiency of Demand Shocks in Order to Reduce Current Account Imbalances in the EMU". ISRN Economics 2013 (7.11.2013): 1–17. http://dx.doi.org/10.1155/2013/787352.
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With the current European sovereign public debt crisis and current account imbalances difficulties in the EMU, many papers now underline that the problem of the European construction is its lack of institutional framework and common economic governance necessary to make a monetary union viable. According to these papers, the solution would lie in a stronger economic cooperation, with the Northern European countries contributing to lighten the burden of the Southern debtor countries. In this context, our model shows that a symmetric positive demand shock in the EMU could only slightly reduce the external indebtedness of the Southern European countries but would efficiently reduce their public debt levels. To the contrary, an asymmetric positive demand shock in the creditor Northern European countries (e.g., an increase in German wages) could reduce the current account deficits of the Southern European countries, in particular for countries with the highest openness to trade. Nevertheless, it would worsen the indebtedness levels, and it would also increase the recessionary risks in these countries.
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Chaudhary, Muhammad Aslam, i Sabahat Awar. "Debt Laffer Curve for South Asian Countries". Pakistan Development Review 40, nr 4II (1.12.2001): 705–20. http://dx.doi.org/10.30541/v40i4iipp.705-720.
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The inflow of foreign capital is generally seen as an accelerating force to economic growth, due to provision of additional resources, and these funds are considered complementary to local savings. It could also help to transfer technology and, therefore, increase productivity. Besides it enhances purchasing power of the recipients [Mullick (1988)] and as a result stimulates growth. The purpose of foreign debt is to increase real transfer of resources from the developed countries to the developing countries, so that these countries could pick up momentum of economic growth and as a result improve their welfare.1 The rapid increase in the external debt obligations of the developing countries, during the 1970s, had given rise to concerns about the dangers of increasing trend in interest and amortisation payments and, therefore, this situation posed a threat to debtor countries. The foreign debt of the developing countries has become a threat to their economic growth. The debt servicing of some of the LDC’s exceeded to their growth rates.2 Initially, most analysts believed that debt servicing problem would be temporary. It was hoped that creditworthiness and more normal growth of most of the countries would be restored with the influx of foreign resources. However, the debt crises have demonstrated that this assessment was optimistic and seemed never to be realised.3
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Salomons, Arthur. "Deformalisation of Assignment Law and the Position of the Debtor in European Property Law". European Review of Private Law 15, Issue 5 (1.10.2007): 639–57. http://dx.doi.org/10.54648/erpl2007034.
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Abstract: In the last two decades, several European countries have altered the general provisions on assignment or introduced new forms of assignment, in order to facilitate emerging financial instruments that involve the transfer of claims, especially securitisation. This is brought about by deformalisation, i.e. the abolition of formal requirements for the validity of assignment or the introduction of a new form of assignment with fewer formalities. The deformalisation relates inter alia to the requirement of notification of the debtor of the claim. In order to assess whether the interests of the debtor were harmed by this deformalisation, the position of the debtor between assignment and notification is described, analysed and compared for several European countries (France, England and Wales, the Netherlands, Belgium, Norway, Italy, Spain, Germany, Switzerland) as well as for the United Nations Convention on the Assignment of Receivables in International Trade of 2001, the third part of the Principles on European Contract Law of 2003 and the UNIDROIT Principles of International Commercial Contracts of 2004. It is concluded that the deformalisation movement was not in itself detrimental to the position of the debtor: the only exception is the situation in the handful of legal systems in which payment by the debtor to the assignee does not lead to his discharge when he was not instructed to do so, notwithstanding the fact that he had gained knowledge of the assignment by means other than notification. Résumé: Durant les deux dernières décennies, plusieurs pays européens ont modifié leurs dispositions générales sur la cession ou ont introduit des nouvelles formes de cession de créance afin de faciliter les instruments financiers émergents qui impliquent le transfert de créances et spécialement leur titrisation. Ceci a conduit à une déformalisation, par exemple, par l’abolition des exigences de formes pour la validité des cessions ou l’introduction d’une nouvelle forme de cession avec des formalités réduites. La déformalisation se rapporte entre autres à l’obligation de notification au débiteur de la créance. Afin de déterminer si cette déformalisation nuit aux intérêts du débiteur, sa situation entre cession et notification est décrite, analysée et comparée pour plusieurs pays européen (France, l’Angleterre et le Pays de Galles, les Pays-Bas, Belgique, Norvège, Italie, Espagne, Allemagne, Suisse), de même que pour la Convention des Nations Unies sur la cession de créances dans le commerce international de 2001, la troisième partie les Principes du Droit Européen des Contrats de 2003 et les Principes d’UNIDROIT relatifs aux contrats du commerce international de 2004. L’auteur conclut que le mouvement de déformalisation n’est pas en luimême dommageable quant à la situation du débiteur; la seule exception étant celle d’une poignée de juridictions dans lesquelles le paiement par le débiteur au cessionnaire n’entraíne pas sa décharge quand il n’avait pas reçu l’instruction de le faire ainsi, nonobstant le fait qu’il soit au courant de la cession par d’autres moyens que la notification. Zusammenfassung: In den letzten beiden Jahrzehnten haben zahlreiche europäische Staaten die allgemeinen Bestimmungen im Hinblick auf die Abtretung verändert oder aber eine neue Formen der A
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Snider, Lewis W. "The Political Performance of Third World Governments and the Debt Crisis". American Political Science Review 84, nr 4 (grudzień 1990): 1263–80. http://dx.doi.org/10.2307/1963263.
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The developing countries' suspension of payments on their external debt is as much a consequence of the political weakness of their governments and the excessive politicization of their economic policies as it is a result of unfavorable structural changes in the international economy. Differences in debtor governments' political performances are treated as an explicit variable rather than as residuals to an economic explanation in estimating the probability of developing countries' suspending their external debt service payments. Using a logit model, I analyze fifty-eight developing countries for the years 1970–1984. The results show that political capacity can be decisive in corrrectly predicting the probability of a government's suspending its external debt service payments. The model predicts 96% of the total outcomes correctly and 80% of the debt payment suspension cases correctly.
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Koraev, Konstantin Borisovich, Tatyana Klavdievna Primak, Oleg Antonovich Zayachkovsky, Andrey Borisovich Khvostov i Igor Sergeevich Sorokin. "The legal regulation of a debtor’s solvency extrajudicial restoring under the russian legislation". LAPLAGE EM REVISTA 7, Extra-C (21.06.2021): 57–71. http://dx.doi.org/10.24115/s2446-622020217extra-c985p.57-71.
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Modern bankruptcy laws of most countries are mainly focused on the financial recovery of an insolvent debtor, and not its liquidation. In the legal regulation of extrajudicial restoration of solvency is given a higher priority than judicial procedures. This article examines the Russian bankruptcy law, the norms of which regulate extrajudicial restoration of the debtor's solvency. The analysis is conducted considering the economic content of the financial rehabilitation relationship, which must first of all be taken into account in the legislative work.
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Zucman, Gabriel. "The Missing Wealth of Nations: Are Europe and the U.S. net Debtors or net Creditors?*". Quarterly Journal of Economics 128, nr 3 (7.06.2013): 1321–64. http://dx.doi.org/10.1093/qje/qjt012.
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Abstract This article shows that official statistics substantially underestimate the net foreign asset positions of rich countries because they fail to capture most of the assets held by households in offshore tax havens. Drawing on a unique Swiss data set and exploiting systematic anomalies in countries’ portfolio investment positions, I find that around 8% of the global financial wealth of households is held in tax havens, three-quarters of which goes unrecorded. On the basis of plausible assumptions, accounting for unrecorded assets turns the eurozone, officially the world’s second largest net debtor, into a net creditor. It also reduces the U.S. net debt significantly. The results shed new light on global imbalances and challenge the widespread view that after a decade of poor-to-rich capital flows, external assets are now in poor countries and debts in rich countries. I provide concrete proposals to improve international statistics.
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Filimonova, Anna Igorevna. "Post-Covid era: the gates of global recession are opening". Uchenyy Sovet (Academic Council), nr 8 (25.06.2022): 528–39. http://dx.doi.org/10.33920/nik-02-2208-06.
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The article identifies the reasons for the sharp deterioration in the global economic situation in the post-pandemic period. In particular, the article considers the new role of the IMF and the World Bank and the evolution of their approaches to debtor countries from the beginning of the introduction of the global quarantine regime to the present. Key points in the strategy of these financial institutions that do not allow debtors to get rid of the debt burden are highlighted. The systemic economic and political foundations of the current crisis in Sri Lanka are analyzed, including the role of the IMF and the World Bank, which took a hard line on spending cuts during the pandemic. The reasons for the ineffectiveness of measures to reduce the budget deficit and the public sector in the context of the priority of paying off external debt are clarified. In addition, the article highlights the interests and driving forces of the processes associated with the US stock market, operations in which are planting time bombs that can be activated at any moment and lead to perhaps the worst economic recession in modern history.
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Davydenko, Vladimir A., Elena P. Danilova i Ekaterina M. Portnyaga. "Socio-economic consequences of bankruptcy of individuals". Tyumen State University Herald. Social, Economic, and Law Research 8, nr 4 (2022): 23–64. http://dx.doi.org/10.21684/2411-7897-2022-8-4-23-64.
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The bankruptcy of individuals has become especially relevant. This is confirmed by numerous commercials about bankruptcy on the Internet and on television, which were practically non-existent before. This article discusses the causes and consequences of bankruptcy of individuals. First of all, this process affects the debtor and the creditor, but it indirectly affects the country as a whole. The authors studied the world experience on the problem of bankruptcy of individuals and conducted a comparative analysis for different countries, conducted and transcribed in-depth interviews with lawyers and arbitration managers, conducted a questionnaire among citizens who entered bankruptcy proceedings, and compiled a “portrait of the average debtor”. The authors pointed out the pressing problems faced by citizens and creditors in the bankruptcy process, described the reasons why people enter bankruptcy, showed how economic sanctions and the COVID-19 pandemic affected the growth of bankruptcy, demonstrated the dynamics of bankruptcy of individuals in Russia and in foreign countries, gave a forecast of possible developments related to with the bankruptcy of individuals. The novelty of the article and the author’s contribution consists in the introduction into scientific circulation of the definition “leniency”, which reflects the real economic, sociological and legal situation in a particular country on key grounds — such as the presence of direct bankruptcy; its acceptability; prices (costs); complexity; dynamics of the process; conditions and possibilities of debt repayment during its restructuring; real problems of bankruptcy stigmatization.
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White, Michelle J. "Bankruptcy Reform and Credit Cards". Journal of Economic Perspectives 21, nr 4 (1.11.2007): 175–99. http://dx.doi.org/10.1257/jep.21.4.175.
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From 1980 to 2004, the number of personal bankruptcy filings in the United States increased more than five-fold, from 288,000 to 1.5 million per year. By 2004, more Americans were filing for bankruptcy each year than were graduating from college, getting divorced, or being diagnosed with cancer. In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) became law. It made bankruptcy law much less debtor-friendly. Personal bankruptcy filings fell to 600,000 in 2006. This paper explores why personal bankruptcy rates rose, and will argue that the main reason is the growth of “revolving debt”—mainly credit card debt. It explains how the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 altered the conditions of bankruptcy. Finally, this essay considers the balances that need to be struck in a bankruptcy system and how the U.S. bankruptcy system strikes these balances in comparison with other countries. I argue that a less debtor-friendly bankruptcy policy should be accompanied by changes in bank regulation and truth-in-lending rules, so that lenders have a greater chance of facing losses when they supply too much credit or charge excessively high interest rates and fees.
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Harahap, Panusun. "THE IMPLEMENTATION OF INTERNATIONAL ARBITRATION DECISIONS IN INDONESIA AND SOME FOREIGN COUNTRIES". Yuridika 34, nr 1 (1.01.2019): 116. http://dx.doi.org/10.20473/ydk.v34i1.11402.
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An international arbitration award handed down in a territory of a given country may be applied for in another territory, provided that it is a party to the 1958 New York Convention on the Recognition and Implementation of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards and between those countries there are bilateral or multilateral agreements on the recognition and execution of international arbitration decisions. An arbitral award, as well as a judge's verdict may actually be voluntary by the loser or debtor. If the verdict has been executed in good faith by the losing party, or in other words his accomplishments have been met with good faith, then the problem is solved. It is not uncommon, however, that although the verdict is already in place, the losing party does not want to execute the verdict voluntarily. In this case the winning party or the creditor may submit an application to the Chairman of the Central Jakarta District Court for the international arbitration award to be executed by force (execution forcee).
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Halikiopoulou, Daphne, i Tim Vlandas. "The Rise of the Far Right in Debtor and Creditor European Countries: The Case of European Parliament Elections". Political Quarterly 86, nr 2 (kwiecień 2015): 279–88. http://dx.doi.org/10.1111/1467-923x.12168.
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Bienen, Henry S., i Mark Gersovitz. "Economic stabilization, conditionality, and political stability". International Organization 39, nr 4 (1985): 729–54. http://dx.doi.org/10.1017/s0020818300027089.
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IMF conditionality is seldom so important that it dominates all other considerations for political stability. IMF stabilization programs often shift benefits from one group to another. They expose elites to charges of selling the sovereignty of their countries. The imposition of IMF conditions, particularly subsidy cuts, may lead to sharp outbreaks of civil disorder. Nonetheless, the IMF provides resources that make adjustment easier and thus may lessen the chances of political instability for a country. IMF programs are seldom implemented fully as negotiated, and the penalties for partial compliance are not great. Debtor countries have more flexibility in imposing austerity measures, and the economic constraints are less binding than often assumed. The very availability of alternatives to IMF programs results in internal divisions because some favor debt repudiation and others oppose it. Groups now contend over solutions to the debt problems of their countries.
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Payana, I. Kadek Adi, I. Nyoman Putu Budiartha i Ni Made Puspasutari Ujianti. "Upaya Hukum PT Bank Rakyat Indonesia (Persero) Tbk Unit Amlapura terhadap Debitur yang Wanprestasi dalam Usaha Mikro". Jurnal Preferensi Hukum 1, nr 1 (27.07.2020): 27–32. http://dx.doi.org/10.22225/jph.1.1.2256.27-32.
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Economic development in a country is highly dependent on dynamic development and tangible contributions from the development sector. Development in the economic field is the main driver of development, Micro Business plays an important role in development and economic growth, not only in developing countries but also in developed countries. The formulation of the problem in this study, is: 1. Default and Legal Consequences in Micro People's Business Credit Agreement at PT. Bank BRI, 2. Repayment of Debtor Debt in Credit Agreements at Bank Bri. The research method used is a type of normative legal research. The most important part of developing a micro business is borrowing venture capital obtained from loans obtained from a bank. In an agreement, the debtor sometimes fails or defaults. Default or non-fulfillment of the agreement can occur either intentionally or unintentionally. Parties who do not intentionally do this default can occur because they are not able to fulfill these achievements or are also forced to make these achievements. The problem in this study is the occurrence of default on a credit agreement, the data is processed and analyzed qualitatively. The purpose of the analysis is to minimize the risk of bad credit. Then sort out the loan application submitted based on the loan ceiling. Default or non-fulfillment of the agreement can occur either intentionally or unintentionally. Parties who do not intentionally do this default can occur because they are not able to fulfill these achievements or are also forced to make these achievements.
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Loungnarath, Vilaysoun. "Les cadres juridiques de la capitalisation des dettes commerciales des États". Canadian Yearbook of international Law/Annuaire canadien de droit international 30 (1992): 197–232. http://dx.doi.org/10.1017/s0069005800005105.
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SommaireDebt-equity swaps have been a technique used to cope with developing countries’ debt crisis. This type of operation involves various legal techniques. Thus, the national regulation of the creditor institution has an impact on the degree and nature of its participation in debt-equity swaps. These operations should not conflict with the provisions of the syndicated loan or the debt-restructuring agreement. As well, the financial transaction should reflect the constraints inherent in the legal rules governing secondary markets as well as those related to the regulatory scheme set up by the debtor country. This article describes the various legal techniques and shows that international co-operation is necessary to optimize use of debtequity swaps in a strategy aimed at reduction of developing countries’ debt and at their economic growth.
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McCormack, Gerard. "Control and Corporate Rescue–An Anglo-American Evaluation". International and Comparative Law Quarterly 56, nr 3 (lipiec 2007): 515–51. http://dx.doi.org/10.1093/iclq/lei181.
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AbstractThis article compares and contrasts Chapter 11 of the US Bankruptcy Code with the UK administration procedure under the Insolvency and Enterprise Acts. It focuses in particular on who runs a company during the restructuring process—debtor-in-possession or management displacement in favour of an outside administrator. Various reasons have been given to explain the US/UK divergence in this respect including differences in entrepreneurial culture and differences in the lending markets in the two countries. The article suggests that the divergence cannot be reduced to a single factor but instead implicates a complex web of circumstances.
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Gersovitz, Mark. "A Review of Michael Tomz's Reputation and International Cooperation: Sovereign Debt across Three Centuries". Journal of Economic Literature 47, nr 2 (1.05.2009): 475–81. http://dx.doi.org/10.1257/jel.47.2.475.
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Repudiation and expropriation pose obstacles to the international mobility of capital and thereby to efficient international allocation of resources. Tomz discusses the determinants of lending in the face of the threat of repudiation. Using history, he argues that debtor countries have sought a reputation for compliance with loan agreements to access future loans and that military or trade sanctions have been unimportant in sustaining lending. He discusses when and why banks have been more active as lenders relative to bondholders. This article situates Tomz's concerns in the broad themes of thought on obstacles to capital mobility and evaluates his arguments.
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Rogoff, Kenneth. "Emerging Market Sovereign Debt in the Aftermath of the Pandemic". Journal of Economic Perspectives 36, nr 4 (1.11.2022): 147–66. http://dx.doi.org/10.1257/jep.36.4.147.
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For emerging markets, fiscal space is a very real constraint that can surface under a variety of circumstances, including rising world interest rates, falling commodity prices, or a global recession. Some emerging markets, and the majority of low-income developing economies, are already in debt distress or default. Near-term, making sure that troubled debtor countries are aware of the full menu of options, including heterodox strategies such as default, is important. Longer-term, a rethink of the Bretton Woods financial institutions to incorporate a greater emphasis on outright grants instead of loans, makes more sense than ever.
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Korolev, Yury Y. "DOING BUSINESS’2020 RESULTS: PROBLEMS AND PERSPECTIVES OF IMPROVEMENT OF THE ECONOMIC AND LEGAL INSTITUTE OF INSOLVENCY (BANKRUPTCY)". Russian Journal of Water Transport, nr 62 (10.03.2020): 111–22. http://dx.doi.org/10.37890/jwt.vi62.42.
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The article analyzes the results of the Doing Business international rating for 2020 for the Republic of Belarus and the Russian Federation. Based on the actual rating data for two countries, the author investigated the methodology of the Resolving insolvency indicator, which is one of ten equilibrium components of the final Doing Business indicator and assesses the level of development of national economic and legal institutions of insolvency (bankruptcy). Some factors determining the lag of the Republic of Belarus and the Russian Federation from other countries, primarily the countries of the former USSR, are identified. On the example of India, the results of reforming the national legislation on economic insolvency (bankruptcy) and the transition to effective rehabilitation procedures of the debtor are evaluated. It is concluded that it is possible to use approaches and methods of calculating the Resolving insolvency indicator to develop areas for reforming national economic and legal institutions of insolvency (bankruptcy).
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Kliestikova, Jana, Maria Misankova i Tomas Kliestik. "Bankruptcy in Slovakia: international comparison of the creditor´s position". Oeconomia Copernicana 8, nr 2 (30.06.2017): 221. http://dx.doi.org/10.24136/oc.v8i2.14.
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Research background: Bankruptcy shouldn´t be considered only as negative phenomena although its impact is for companies in most cases more than devastating. This change of point of view is invoked by the needs of contemporary socio-economic evolution. If society wants to reach sustainable development, the bankruptcy should be perceived as an immanent part of normal cyclical economic development. Moreover, if the view of bankruptcy is changed in a positive way, it can be a stimulus for innovations, investment and global welfare. But it is not possible without an increase in the effectiveness of national and international bankruptcy law.Purpose of the article: The goal of this study is to analyse the position of a creditor in the case of a debtor´s bankruptcy on the basis of comparative law in the Slovak Republic de lege ferenda. It is because we assume that continuous attention should be given to the issue of the creditor’s position with regard to a debtor´s bankruptcy to achieve sustainable economic development.Methods: The potential consideration de lege ferenda should be based not only on performed legal analysis, but also on performed economic analysis. So, selected countries have been evaluated according to specific economic and legal indicators. We used the interdisciplinary approach based on selection analysis and legal comparative analysis applied to international comparison of the status of creditor and the effectiveness of bankruptcy law from his point of view.Findings & Value added: The applied approach has led us to the detection of the most important insolvency laws, specifically the insolvency laws of the United States and Austria. These legislations were further applied in the context of consideration de lege ferenda over the position of a creditor in the case of a debtor´s bankruptcy in the Slovak Republic.
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Suherman, Suherman. "UPAYA MEDIASI DALAM PENYELESAIAN SENGKETA DI LEMBAGA PERBANKAN". ADHAPER: Jurnal Hukum Acara Perdata 4, nr 1 (10.10.2018): 109. http://dx.doi.org/10.36913/jhaper.v4i1.67.
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In some countries, mediation was voluntarily dispute settlement. In banking dispute settlement, the dispute arose from customer’s claim over banking services. If the claim unsatisfactory settled, it may lead to banking dispute. The dispute characterized as contractual dispute between the bank and the customer as debtor. At fi rst stage, the customer may request for clarifi cation towards the bank. Subsequently, the customer may submit request for mediation to the mediation institution. If the parties (the bank and the customer) reach an agreement on the dispute, the agreement should be written. This article also discuss the advantages and disadvantages of mediation for banking dispute settlement.
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Herman, Barry. "Introduction: The Players and the Game of Sovereign Debt". Ethics & International Affairs 21, nr 1 (marzec 2007): 5–32. http://dx.doi.org/10.1111/j.1747-7093.2007.00058.x.
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This essay characterizes the main actors and how they operate during a buildup of government foreign debt and after a default on payments. These actors are the borrowing governments, domestic and foreign commercial banks, purchasers of government bonds, other governments lending to the debtor, and multilateral institutions (the International Monetary Fund and development banks). As there is no international sovereign analog to national court-supervised bankruptcy in the case of countries, the workout from crises, mainly hitting poorer economies, occurs without legislated rules or an enforcement mechanism, although the IMF (sometimes with the World Bank) serves as an informal umpire for the global financial community.
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Loginov, Alexandr Vladimirovich. "Development of real security for obligations fulfillment in Ancient Greece". RUDN Journal of World History 14, nr 3 (15.12.2022): 280–88. http://dx.doi.org/10.22363/2312-8127-2022-14-3-280-288.
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The article is devoted to the development of real security for fulfillment of obligations in Ancient Greece. The article proves that the first form of real security for fulfillment of obligations was a possessory pledge. The creditor sought to obtain possession of the pledged object. This is due to underdeveloped archives in Greece (unlike in the countries of the Ancient East), the lack of land register and encumbrance registry, creditor was not sure that the debtor would not alienate pledged property by fraud. The genesis of sale on condition of release is due to emergence of signs of encumbrance of property (in Athens - horoi). A hypothec came into being later than other real security for fulfillment of obligations.
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Fayzrakhmanova, L. M., i S. V. Bukhmin. "Transformation of the Institution of Insolvency amid the COVID-19 Pandemic in Russia and Some European Countries". Actual Problems of Russian Law 16, nr 9 (24.10.2021): 91–98. http://dx.doi.org/10.17803/1994-1471.2021.130.9.091-098.
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The COVID-19 virus pandemic has become a major challenge to the modern economic paradigm in the world, leading to a sharp decline in supply and demand as a result of quarantines and changing consumer behavior due to the need for social distancing. Its predictable result will be a global economic downturn that will affect many enterprises and organizations in various industries. In these conditions, the need arises for a civilized settlement of the debts of insolvent entities to creditors. The paper examines legislative measures within the framework of the institution of bankruptcy taken in Russia and European countries (Germany, Italy, France) in order to overcome the economic crisis caused by the COVID-19 virus pandemic. A comparative legal analysis of the effectiveness of legal incentives adopted in states is carried out. It is concluded that most of the legal measures to counter the crisis in the considered countries have an identical focus and for maximum support of the debtor, diverse measures are required, which will include not only legal means, but also economic, financial and tax incentives.
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Dinneya, Godson. "Democracy, External Debt and Growth in Nigeria: An Impact Analysis under a Narrow Definition of Debt-Led Growth". Canadian Journal of Political Science 39, nr 4 (grudzień 2006): 827–53. http://dx.doi.org/10.1017/s0008423906060379.
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Abstract. The imposition of political conditionality for debt relief and further assistance to debtor nations presupposes that the political leadership under which borrowing and spending decisions were made could have contributed to the poor performance of external capital in debtor countries. Yet no attention seems to have been given to an empirical evaluation of the link between the level of democratization and growth of debtor economies caused by foreign capital. This paper employs two models—debt-cum-growth and democracy-debt-led growth—to investigate the contribution of external debt to the growth of the Nigerian economy, and to evaluate whether the direction of this contribution could be explained by, for instance, the process of power change among political stakeholders, the quality of governance, the political environment, and democratic dividends in the democratization process in a typical debtor nation. Although the results in the first model are mixed, Wantchekon's 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, are established for Nigeria, with the implication that the gains of political conditionality for debt relief should not be expected from debt-led growth of the Nigerian economy.Résumé. Lorsqu'on impose des conditions politiques à l'allégement de la dette et à d'autres mesures d'aide aux nations débitrices, on présuppose que les gouvernements responsables des emprunts et de leur utilisation peuvent avoir contribué à la piètre performance du capital externe dans les pays concernés. Cependant, il semble qu'on ne se soit pas préoccupé d'évaluer empiriquement le lien entre le niveau de démocratisation et la croissance économique des nations débitrices due au capital étranger. Cet article utilise deux modèles—d'abord endettement avec croissance, puis démocratie et croissance économique par endettement externe—pour étudier la contribution de la dette externe à la croissance de l'économie nigérianne et pour évaluer si la direction de cette contribution peut s'expliquer, par exemple, par le processus de changement de pouvoir entre intervenants politiques, par la qualité de la gouvernance, l'environnement politique et les dividendes démocratiques dans le processus de démocratisation d'une nation débitrice typique—le Nigéria. Bien que les résultats du premier modèle soient mitigés, les liens que fait Wantchekon entre les richesses en ressources naturelles et le genre de régime politique d'une part et le capital étranger et la nature de l'industrie du pays d'autre part sont établis pour le Nigéria, ce qui implique qu'il ne faut pas s'attendre à ce que l'imposition de conditions politiques à l'allégement de la dette produise des gains politiques dans une économie nigérianne dont la croissance est alimentée par la dette extérieure.