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1
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.
2
Elnasri, Amani Economics Australian School of Business UNSW. "The impact of debt relief in low-income countries". Awarded by:University of New South Wales. School of Economics, 2006. http://handle.unsw.edu.au/1959.4/26779.
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The perceived lack of conclusive quantitative evidence on the macroeconomic effects of debt relief in low-income countries has generally blurred the image of debt relief efforts and left the issues of its effectiveness and efficiency open to debate and dispute. This thesis seeks to shed more light on the subject by providing some further empirical evidence. This objective is achieved by performing an empirical investigation of two effects of debt relief. First, the study examines the debt relief-new borrowing relationship in a multivariable regression framework. The results that emerge suggest that, on average, debt relief can be beneficial in reducing the future new borrowing of Highly Indebted Poor Countries (HIPCs). This conclusion, to some extent, is in line with the goals of HIPCs debt relief initiatives in reducing external debt burdens of those countries to sustainable levels. However, it presents a challenge to the views of William Easterly on the ???perverse incentive effects??? of ???continuing waves??? of debt relief that are said to lead to further debt accumulation of a similar magnitude to replace old cancelled debt. Second, the analysis explores the influence of debt relief on domestic investment behaviour in developing countries. Debt relief is found to have a positive effect on domestic investment in countries with good policy environments. This result suggests that debt relief would be more effective in promoting domestic investment if it were more cautiously conditioned on sound policy frameworks.
3
Mobie, Titus Risimati. "The impact of privatization of water system towards the poor a challenge to pastoral care : with special reference to the rural communities of Bushbuckridge /". Thesis, Pretoria : [S.n.], 2008. http://upetd.up.ac.za/thesis/available/etd-11062008-170236/.
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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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Udagawa, Mitsuhiro. "Debt relief in international society : international responses to the debt problem of the heavily indebted poor countries (HIPC)". Thesis, University of Newcastle Upon Tyne, 2007. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.435633.
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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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7
Bas, Tugba. "Capital structure and debt maturity choices of firms in developing countries". Thesis, City University London, 2012. http://openaccess.city.ac.uk/1073/.
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The aim of the thesis is to examine the leverage and debt maturity levels and the determinants of capital structure and debt maturity of firms in developing countries. We use World Bank Enterprise Survey data covering 10,839 firms in 24 countries located in five regions. The survey provides information about balance sheet and income statements items allowing us to examine whether capital structure theory is portable to small firms in developing countries. We find that the leverage and debt maturity levels of small and large firms are different. Leverage and debt maturities are lower for small firms despite their high asset tangibility and profitability ratios. We attribute this to the economic and financial environment of the country. Small firms do not consider profitability when making external financing decisions. Firm level determinants are important for large firms regarding capital structure and debt maturity decisions. However, most of the economic and financial environment variables become insignificant. Therefore, the main difference between small and large firms is derived from the impact of the economic and financial environment of a country. Most of the economic and financial environment variables do not have statistically significant effects on the leverage and debt maturity decisions of large firms. We attribute this to large firms’ easy access to both domestic and international financial markets. Hence, if local governments provide better fiscal and monetary policies and a friendly business environment, small firms can amplify their leverage and debt maturity.
8
Karacimen, Elif. "Political economy of consumer debt in developing countries : evidence from Turkey". Thesis, SOAS, University of London, 2013. http://eprints.soas.ac.uk/15947/.
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This dissertation analyses the rise in consumer debt in developing countries over the last decade by drawing on the case of Turkey. It adopts a theoretical framework based on a political economy approach and examines the macroeconomic, institutional, political, and historical environment in which the rise in consumer debt has taken place. By locating the factors of indebtedness within an historically determined socioeconomic context the dissertation demonstrates the specific character of the rise in consumer credit in the age of financialisation. It is shown that consumer credit has grown markedly and its rise has been associated with related changes in the socioeconomic conditions within which the credit system operates as well as in the character of borrower-lender relations and in the perceptions and attitudes towards credit use within society. Analysis of the Turkish economy in the post-2001 crisis further shows that the interplay between the real and financial sectors has boosted consumer debt in the country. There is much publicly available evidence indicating the rapid expansion of consumer credit to low-income wage earners in Turkey. The empirical section of the dissertation focuses on how and why workers have become increasingly involved with the financial system. The research is based on empirical material collected through questionnaires and interviews with workers in the metal sector of industry. The results show that consumer debt in Turkey has become a part of the daily life of workers as a consequence of, first, growing dependence on debt to support basic reproduction of labour power and, second, of the aggressive marketing strategies of banks towards consumers. Further, the results provide evidence of a link between workers' debt and the type of wage employment by demonstrating that insecurity of employment and income have increased the tendency to borrow, and thus the vulnerability of workers to debt. Finally, there is an unequal power relationship between banks and workers which has allowed banks to extract profits out of wages and salaries.
9
Bua, G. "THE EFFECT OF INTERNATIONAL POLICIES ON BORROWING AND DEBT OF DEVELOPING COUNTRIES". Doctoral thesis, Università degli Studi di Milano, 2015. http://hdl.handle.net/2434/259794.
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The first paper introduces a new dataset on the stock and structure of domestic debt in 36 Low-Income Countries over the period 1971-2011. We characterize the recent trends regarding LICs domestic public debt and explore the relevance of different arguments put forward on the benefits and costs of government borrowing in local public debt markets. The main stylized fact emerging from the data is the increase in domestic government debt since 1996. We also observe that poor countries have been able to increase the share of long-term instruments over time and that the maturity lengthening went together with a decrease in borrowing costs. However, the concentration of the investor base, mainly dominated by commercial banks and the Central Bank, may crowd out lending to the private sector.
10
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.
11
Nasa, Baseerit. "Investigating the debt-growth relationship for developing countries : a multi-country econometric analysis". Thesis, University of Leicester, 2009. http://hdl.handle.net/2381/4811.
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Debt which emerged as a result of excessive lending by the advanced nations to disorganised and badly managed economies is oppressing the world’s poorest and most vulnerable whilst enriching wealthy creditors. This study investigates the relationship between debt and the economic growth of 56 heavily indebted poor countries from 1969 to 2000 in three empirical chapters. The first empirical chapter examines the non-linearity of the debt-growth relationship, i.e. it estimates the threshold below which debt enhances growth whilst above which debt prevents growth. The preferred endogenous threshold model of Hansen (1996, 2000) suggests that debt becomes detrimental to growth when debt-to- GDP ratio approaches 45%. Hence a country’s debt is considered sustainable, in the sense that it affects growth positively and can be serviced without any difficulty, as long as its debt-to-GDP ratio is below 45% threshold. An alternative to threshold concept of debt sustainability is the concept of intertemporal sustainability, which defines debt as sustainable providing that actual debt level equals the present discounted value of future trade balance surpluses. This, in terms of the time series properties, implies that debt is sustainable if there is long-run economic relationship between debt stock and output. The second empirical chapter investigates this using numerous integration and cointegration methods. The results from the best tests suggest that debt is unsustainable. Nonetheless, these methodologies have low power and categorise countries into a simple dichotomy of sustainable vs. unsustainable, whereas in reality sustainability is a continuum measure. Thus, the final empirical chapter proposes the use of persistence techniques for assessing debt sustainability, i.e. estimating a Debt Sustainability Index (DSI). Estimates of the DSI conclude that Latin American and Caribbean (LAC) countries have less sustainable debt than Sub Saharan African (SSA) countries. Furthermore, the oil price, the interest rate and the commodity price shocks have played a substantial role in causing the debt crisis but the contribution of other factors unidentified is larger. The oil shocks are the most important for both groups whilst the interest rate is the least important for LAC and the commodity price for SSA.
12
Gunarsa, Singgih. "Fiscal Policy, Public Debt and Economic Performance in Developing Countries: An Empirical Analysis". Thesis, Griffith University, 2020. http://hdl.handle.net/10072/394725.
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Since the Global Financial Crisis, interest in the use of fiscal policy by governments to stabilise economic activity, boost economic growth and achieve development objectives has grown. Consequently, however, governments run budget deficits which, in many countries, result in increased government debt. Since many governments in developing economies run budget deficits, the macroeconomic impact of fiscal policy and public debt sustainability remain a serious concern.
This thesis is an empirical study of four sub-topics of fiscal policy using macroeconomic time-series data from developing countries. The first chapter explores the decomposition of government expenditure in developing countries. It examines the impact of government expenditure composition based on function to economic growth using datasets from developing countries from 1973 to 2015. We applied a dynamic panel model approach, using system GMM, to study which component of government expenditure has a significant impact on growth. The results indicate that government expenditure in developing Asian countries has no significant association with growth. In terms of composition, public capital spending is positively associated with economic growth abstracting from possible offsetting effects that arise from how spending is financed (taxes or borrowing). Government interest payments show a negative relationship with growth in developing economies. Using a similar baseline model, the study also estimates sectoral government composition. The results show that public spending on education sector is negative and significant to growth. The negative coefficient on spending in the education sector implies that there is inefficient spending in this sector of both allocation and outcome. On the other hand, in line with the existing theory, public health spending indicates positive association with economic growth in developing economies whereas defence spending is insignificant to growth.
The second chapter discusses the impact of fiscal policy namely, public debt and budget deficit on the real interest rate in developing countries from 1990 to 2015. The proposed model for this study is based on the Barro and Modigliani interest rate determination model, with several control variables based on the latest reviews. We employ a semiparametric approach to examine the non-linearity condition of fiscal policy and interest rates, and a dynamic panel model using a system GMM approach for linear estimation. The results show that all semiparametric estimates indicate little relationship between fiscal policy (public debt and budget deficit) and interest rates. Furthermore, the dynamic panel model, using linear regression estimates, finds that, by controlling related variables, both public debt and fiscal deficit correspond to a positive effect on interest rates in developing and emerging countries. The findings imply that higher interest rates may crowd out private consumption and, therefore, dampen the initial positive effect of government expenditure on growth.
Moreover, the effect varies if the interaction model is applied when the dataset is split into subsamples. For instance, the impact of rising public debt on interest rates is more significant under a high budget deficit and low financial depth condition. Similarly, a budget deficit also raises interest rates under a high budget deficit but not significant in low financial depth condition. Overall, the results are theoretically plausible and in line with previous studies.
The third chapter estimates the relationship between public debt and economic growth and tries to identify the effect of the economic crisis using an econometric model based on 25 developing Asian countries from 1970 to 2015. This model is developed from growth accounting relationships, with the inclusion of control variables based on the latest literature. The regression technique in this chapter employs dynamic panel models that have some well-known advantages over typical cross-sectional or time-series approaches. After highlighting key theoretical linkages and previous findings on the public debt-growth nexus, the study found a relatively weak negative relationship from a dynamic panel model. The results imply that a 10% increase in public debt is associated with growth reduction from 0.2% to 0.4%, which is macroeconomically significant.
The fourth and final empirical study in this thesis uses the latest fiscal and macroeconomic data from ten ASEAN countries to investigate their fiscal sustainability. This chapter examines whether Asian countries have satisfied their fiscal sustainability with the application of an intertemporal budget constraint (IBC) model. We also incorporate the impact of an ageing population on the intertemporal budget constraint model and study its effects on fiscal sustainability.
The results show that ASEAN countries require substantial effort to stabilise current debt levels. Using the debt reduction scenario from the IBC model to reduce debt to 25%, Indonesia needs a 1% primary surplus within ten years, whereas Vietnam and Malaysia would need around 3% to 4% primary surplus over GDP. Furthermore, this study also reveals that an ageing population in ASEAN countries has created pressure on fiscal policy through a consequent decrease in labour force growth. Despite relatively strong economic growth in ASEAN economies, our results suggest that substantially larger primary budget balances will be required to ensure future public debt sustainability.
Overall, this thesis lists and investigates a number of issues regarding the macroeconomic impact of fiscal policy in developing economies. The thesis suggests three main policy implications that are relevant to the empirical results of the above studies. One is the importance of increasing the quality of public spending, especially in choosing sectors that will benefit from long-term growth. Secondly—in order to minimise future fiscal risk arising from higher world interest rates or the realisation of contingent liabilities—the governments of developing countries must ensure that additional public debt is matched by high quality public spending. This should be done while strengthening budgetary institutions and practice, particularly in managing deficit and public debt. Prudent debt management includes managing the debt portfolio by calculating risk and cost that may increase sovereign credibility and maintain fiscal sustainability. The third main policy implication is developing a deep and liquid domestic market which can make a domestic financial market more resilient to external volatility and also be a potential source of funding.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Dept Account,Finance & Econ
Griffith Business School
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Buckberg, Elaine Karen. "Developing countries in world financial markets : studies of emerging stock markets, direct investment, and debt". Thesis, Massachusetts Institute of Technology, 1993. http://hdl.handle.net/1721.1/12600.
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Rosas, Francisco Flores. "The build-up of Mexico's external public debt, 1976-82 : context, management, and crisis". Thesis, University of Cambridge, 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.389828.
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Battikha, Anne-Marie. "Structural Adjustment and the Environment: Impacts of the World Bank and IMF Conditional Loans on Developing Countries". Virginia Tech, 2002. http://hdl.handle.net/10919/37092.
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IMF and World Bank Structural Adjustment Programs (SAPs) include conditional loans granted to developing countries to help them repay their debts while requiring them to undergo specific economic and political reforms. The most common SAP measures include the devaluation of currency, the reduction of public sector size and activities, the removal of subsidies, and the liberalization of trade. While the social impacts of these policies have already been acknowledged and to some degree mitigated, this paper examines their environmental impacts. The various impacts of structural adjustment on the environment are discussed in the framework of four main aspects of SAPs: export promotion, trade liberalization, the shrinking of the state, and increased poverty.
This paper argues that the macroeconomic policies promoted by structural adjustment have several direct and indirect impacts on the environment of borrowing countries. Further, without careful consideration of the environmental impacts, degradation is often the result. However, the fundamentally different perspectives and values on debt and development used by the IMF and World Bank and their critics may explain the differences in their conclusions on adjustment. As the IMF and the World Bank are currently experiencing a shift in the way they interact with borrowing countries to emphasize poverty reduction and country ownership of policies, it is possible that this will allow for more systematic and integrated approaches to addressing debt as well as long-term development. In order to minimize unintended harm to the natural resource base of these countries, economic, social and environmental issues should be addressed together.
Master of Urban and Regional Planning
16
Athanasios, Athanasenas. "Food security in less developed countries: assessing the effects of food aid in rural Kenya as a food supply shock on consumption and nutrition". Thesis, Virginia Tech, 1986. http://hdl.handle.net/10919/45639.
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Food Security can be defined in terms of establishing national or regional minimum nutritional standards, or in terms of securing national or regional self-sufficiency production levels. In this research, food security is viewed from a nutritional-economic standpoint. The prevalence of severe malnutrition and food production instability, especially in Sub-Saharan African Countries, creates the impetus to identify the several economic aspects which characterize the overall food sector and its security floor. Hence, LDC governments, drawing on the WFP (World Food Program) and other international agencies, are interested in formulating a desirable national food strategy which, to a certain degree, secures a balanced national food production sector and consumption pattern.
Food aid, in turn, is an essential mechanism designed to serve developmental purposes, such as income redistribution or provision of food as a real resource. Food-for-Work (FFW), as a specific form of food aid programs, represents a short-run food supply shock in the market environment of the recipient country's economy, since it is used as a "bridge" for meeting the basic nutritional requirements of the poorest households in the short-run. In the long-run, FFW can be used for developing infrastructure, creating jobs and advancing working skills, providing additional income to participants, and further improving the overall nutritional status of the poor.
Recognizing these features of food aid, this research focused on the empirical estimation of the specific nutritional contribution of a FFW project, implemented at the community level in the Ewalel and Marigat locations of the Baringo District, Rift Valley Province, Kenya. The primary objectives were to measure empirically the magnitude of the FFW contribution on the nutritional status of the participant households, and to determine the relationship between consumption patterns and domestic (local) food prices. In this research, FFW participants' consumption behavior was hypothesized to be differentiated from the non-participants in terms of their income elasticities of demand for nutrients. Also, it was hypothesized that the FFW nutritional contribution to participants was greater than the equivalent net income gains through the value of the FFW provided food items (monetary market value of provided food items). Both hypotheses are supported by the analysis.
To determine the course of this research, a two step analytical procedure was followed. First, following Lancaster's conceptual setting on the "Goods' Characteristics Theory."
Master of Science
17
Gnangnon, Sèna Kimm. "Essays on Fiscal Policy in OECD and developing countries". Thesis, Clermont-Ferrand 1, 2014. http://www.theses.fr/2014CLF10430/document.
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La problématique du financement du développement dans les pays en développement se trouve au coeur de cette thèse. Cette dernière s'articule autour de quatre chapitres sur les questions liées au financement du développement. Le chapitre 1 explore les effets des épisodes budgétaires dans les principaux pays donateurs principaux de l'OCDE (Organisation pour la Coopération et le Développement Economique) sur leur offre d'aide au développement aux pays en développement. On observe que les épisodes budgétaires affectent significativement l'offre d'aide, avec une différence comportementale en termes d'offre d'aide du groupe de pays de l'Union européenne versus le groupe de pays de l'OCDE n'appartenant pas à L'Union européenne. Le chapitre 2 s'intéresse aux conséquences des transferts des migrants et de l'imprévisibilité de l'aide au développement sur la probabilité de consolidation budgétaire dans les pays en développement. Les résultats montrent que les transferts des migrants affectent positivement et significativement cette probabilité alors que l'effet est statistiquement nul pour l'imprévisibilité de l'aide. Ces résultats suggèrent en l'occurrence qu'une meilleure gestion des recettes issues de ces transferts durant les périodes de boom économique pourrait aider à éviter de telles situations et offrir une marge de manoeuvre plus importante à ces gouvernements pour la mise en oeuvre de politiques contra-cycliques pendant les périodes de basse conjoncture. Le chapitre 3 analyse l'existence ou non d'effet de la vulnérabilité structurelle des pays en développement sur leur dette publique totale. Les résultats suggèrent qu'un tel effet existe : en l'occurrence, on montre l'existence d'une relation en forme de 'U' entre la vulnérabilité structurelle de ces pays et leur dette publique totale. En focalisant dans le chapitre 4 sur les pays de la zone Franc CFA, nous examinons si leur vulnérabilité structurelle conduit les gouvernements à un endettement excessif. Les résultats suggèrent que plus ces pays sont vulnérables, plus ils sont enclins à un endettement excessif et qu'au-delà d'un seuil de vulnérabilité, leur probabilité d'endettement excessif diminue. Ces résultats obtenus aussi bien pour l'ensemble des pays en développement que pour les pays de la zone Franc CFA suggère que les Institutions Internationales telles que la Banque Mondiale et le Fonds Monétaire International (FMI) devront prendre en compte cette vulnérabilité dans l'évaluation des politiques de développement ainsi que leurs recommandations – en particulier sur les questions liées à l'endettement – pour ces paysThe issue of financing development in developing countries is at the heart of this thesis. The latter revolves around four chapters on financing development related matters. The chapter 1 explores how fiscal episodes in the main traditional OECD (Organization for Economic Cooperation and Development) donors affect their supply of development aid towards developing countries. Evidence is shown that fiscal episodes affect significantly aid supply, with a behavioural difference between European Union and Non-European countries in terms of aid supply. The chapter 2 deals with the consequences of development aid unpredictability and migrants' remittances on fiscal consolidation in developing countries. We find evidence that while migrants' remittances exert a positive and significant effect on the likelihood of fiscal consolidation in developing countries, development aid unpredictability does not. These results particularly suggest that a better management of the revenues derived from these private transfers during their booms could help avoid such situations and allow greater room of maneuver for governments’ recipients to implement countercyclical measures during bad times. The chapter 3 investigates whether the structural vulnerability of developing countries matters for their public indebtedness and evidence is obtained that it does. More specifically, we observe the existence of U-curve relationship between this structural vulnerability and the total public debt of these countries. Focusing on the specific case of CFA Franc Zone countries in chapter 4, we examine the relationship between the structural vulnerability and the probability of entering into excessive public debt. We also obtain evidence of a nonlinear effect of the structural vulnerability indicator with respect to the probability of entering into excessive debt: a rise in the structural vulnerability of these countries increases their probability to engage into excessive debt; however this probability declines after a certain threshold of their structural vulnerability. These results (both for developing countries and particularly for CFA Franc Zone countries) suggest that international development institutions such as the World Bank and International Monetary Fund (IMF) should take into account such vulnerability in their assessment of the adequate development policies and recommendations - especially those related to debt issues -, to these countries
18
Jones, Andrew. "British humanitarian NGOs and the disaster relief industry, 1942-1985". Thesis, University of Birmingham, 2014. http://etheses.bham.ac.uk//id/eprint/5315/.
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This thesis is a history of humanitarian non-governmental organisations (NGOs) in Britain, between 1942 and 1985. Specifically, it is focused upon the group of leading agencies linked to the Disasters Emergency Committee (DEC), an umbrella body for joint emergency fundraising established in the 1960s. The thesis explores the role of these NGOs in building up an expansive and technocratic disaster relief industry in Britain, in which they were embedded as instruments for the delivery of humanitarian aid. This was problematic, as many principal aid agencies also wished to move away from short-term disaster relief, to focus upon political advocacy connected to international development instead. It is argued that, despite this increasing political focus, humanitarian NGOs were consistently brought back to emergency relief by the power of television, the lack of public support for development, and the interventions of the British government. Aid agencies also actively contributed to this process, as they used apolitical disaster relief to generate public support and drive institutional growth in a crowded marketplace. This analysis complicates linear narratives of a transition from emergency relief to development aid in post-war British humanitarianism, instead presenting the period as characterised by competing and contradictory trajectories. This challenges conceptions of NGOs as bottom-up agents of civil society, by highlighting their competitive tendencies and complex interconnections with the mass media and the state. The rise of NGO humanitarianism also sheds light on broader trends in contemporary British history, such as changing patterns of political engagement, the character of modern activism, and the legacies of empire in the post-imperial period.
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Apps, Peter, e 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.
Texto completo da fonteResumo:
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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Balima, Weneyam Hippolyte. "Essays on economic policies and economy of financial markets in developing and emerging countries". Thesis, Université Clermont Auvergne (2017-2020), 2017. http://www.theses.fr/2017CLFAD024/document.
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Cette thèse s'intéresse aux questions d'accès aux marchés financiers dans les économies émergentes et en développement. La première partie donne un aperçu général des conséquences macroéconomiques de l'un des régimes de politique monétaire le plus favorable au marché - le ciblage d'inflation - en utilisant le cadre d'analyse de la méta-analyse. La deuxième partie analyse le risque et la stabilité des marchés obligataires des États. La troisième et dernière partie examine les effets disciplinaires résultant de la participation aux marchés obligataires souverains. Plusieurs résultats émergent. Au chapitre 1, les résultats indiquent que la littérature sur les effets macroéconomiques du ciblage d'inflation est sujette à des biais de publication. Après avoir purgé ces biais, le véritable effet du ciblage d'inflation reste statistiquement et économiquement significatif à la fois sur le niveau de l'inflation et la volatilité de la croissance économique, mais ne l’est pas sur la volatilité de l'inflation ou le taux de croissance économique réel. Aussi, les caractéristiques des études déterminent l’hétérogénéité des résultats de l'impact du ciblage d’inflation dans les études primaires. Le chapitre 2 montre que l'adoption d'un régime de ciblage d'inflation réduit le risque souverain dans les pays émergents. Cependant, cet effet varie systématiquement en fonction du cycle économique, de la politique budgétaire suivie, du niveau de développement et de la durée dans le ciblage. Le chapitre 3 montre que les envois de fonds des migrants, contrairement aux flux d'aide au développement, permettent de réduire le risque souverain. Cette réduction est plus marquée dans un pays avec un système financier moins développé, un degré d'ouverture commerciale élevé, un espace budgétaire faible et sans effet dans les pays dépendants des envois de fonds. Le chapitre 4 montre que les pays ayant des contrats d’échange sur risque de crédit sur leurs dettes sont plus sujets à des crises de dette. Il constate également que cet effet reste sensible aux caractéristiques structurelles des pays. Le chapitre 5 montre que la participation aux marchés obligataires de long terme (domestiques et internationaux) encourage les gouvernements des pays en développement à accroître leurs recettes fiscales intérieures. Il révèle également que l'effet favorable dépend du niveau des recettes de seigneuriage, d’endettement, du régime de change, du niveau de développement économique, du degré d’ouverture financière, et du développement financier. Le chapitre 6 montre que la présence de marchés obligataires domestiques, de long terme et liquides réduit considérablement le degré de dollarisation financière dans les pays en développement. Cet effet est plus important dans les pays avec un régime monétaire de ciblage d’inflation ou de change flottant, et à règles budgétaires. Enfin, il constate que la présence de marchés obligataires domestiques réduit la dollarisation financière à travers la baisse du niveau et de la variabilité de l'inflation, de la variabilité du taux de change nominal, et des revenus de seigneuriageThis thesis focuses on some critical issues of the access to international financial markets in developing and emerging market economies. The first part provides a general overview of the macroeconomic consequences of one of the most market-friendly monetary policy regime—inflation targeting—using a meta-regression analysis framework. The second part analyses government bond market risk and stability. The last part investigates the disciplining effects of government bond market participation—bond vigilantes. In Chapter 1, the results indicate that the literature of the macroeconomic effects of inflation targeting adoption is subject to publication bias. After purging the publication bias, the true effect of inflation targeting appears to be statistically and economically meaningful both on the level of inflation and the volatility of economic growth, but not statistically significant on inflation volatility or real GDP growth. Third, differences in the impact of inflation targeting found in primary studies can be explained by differences in studies characteristics including the sample characteristics, the empirical identification strategies, the choice of the control variables, inflation targeting implementation parameters, as well as the study period and some parameters related to the publication process. Chapter 2 shows that the adoption of inflation targeting regime reduces sovereign debt risk in emerging countries. However, this relative advantage of inflation targeting—compared to money or exchange rate targeting—varies systematically depending on the business cycle, the fiscal policy stance, the level of development, and the duration of countries’ experience with inflation targeting. Chapter 3 shows that remittances inflows significantly reduce bond spreads, whereas development aid does not. It also highlights that the effect of remittances on spreads arises in a regimes of lower developed financial system, higher degree of trade openness, lower fiscal space, and exclusively in non-remittances dependent regimes. Chapter 4 indicates that countries with credit default swaps contracts on their debts have a higher probability of experiencing a debt crisis, compared to countries without credit default swaps contracts. It also finds that the impact of credit default swaps initiation is sensitive to several structural characteristics including the level of economic development, the country creditworthiness at the timing of credit default swaps introduction, the public sector transparency, the central bank independence; and to the duration of countries’ experiences with credit default swaps transactions. Chapter 5 shows that bond markets participation encourages government in developing countries to increase their domestic tax revenue mobilization. Finally, it finds that bond markets participation improves the mobilization of internal taxes, compared to tax on international trade, and reduces their instability. Chapter 6 shows that the presence of domestic bond markets significantly reduces financial dollarization in domestic bond markets countries. This effect is larger for inflation targeting countries compared to non-inflation targeting countries, is apparent exclusively in a non-pegged exchange rate regime, and is larger when there is a fiscal rule that constrains the conduct of fiscal policy. Finally, it finds that the induced drop in inflation rate and its variability, nominal exchange rate variability, and seigniorage revenue are potential transmission mechanisms through which the presence of domestic bond markets reduces financial dollarization in domestic bond markets countries
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Kere, Axelle. "Essays on fiscal policy and domestic resource mobilization in resource-rich developing countries". Thesis, Université Clermont Auvergne (2021-...), 2022. http://www.theses.fr/2022UCFAD002.
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Cette thèse examine l'effet des ressources naturelles extractives sur l'environnement macroéconomique des pays en développement et aborde la question de la mobilisation des ressources domestiques dans ces pays. Après avoir passé en revue la littérature théorique et empirique existante sur la malédiction des ressources naturelles, elle explore empiriquement l'impact des grandes découvertes de pétrole et de gaz sur la politique budgétaire des pays en développement et teste l'effet d'une solution proposée par les institutions multilatérales et les gouvernements pour atténuer les défis de la gestion de ces ressources.Le premier chapitre met en évidence l'impact négatif des découvertes de pétrole et de gaz sur la probabilité d'occurrence d’une crise de la dette souveraine dans les pays subsahariens. Cet effet se produit principalement dans les pays dont les exportations sont fortement concentrées; à l'inverse, il disparaît pour les pays qui sont diversifiés. Ce résultat est important car les pays de notre étude ont déjà bénéficié d'un allègement de leur dette par le biais de l'initiative en faveur des Pays Pauvres Très Endettés (PPTE) et de l'Initiative d'Allègement de la Dette Multilatérale (IADM).Le deuxième chapitre montre l'impact des découvertes de pétrole et de gaz sur la composition des dépenses publiques dans les pays en développement. Il met en évidence les effets néfastes de ces découvertes sur les dépenses de santé et d'éducation. En outre, les résultats montrent que les gouvernements privilégient des catégories de dépenses moins productives et plus discrétionnaires, comme les dépenses militaires et de protection sociale. Les résultats de ce chapitre participent à la discussion quant à la réalisation de l’Objectif de développement durable (ODD) sur la croissance économique.Le troisième chapitre analyse l'impact des fonds souverains comme solution à la malédiction des ressources naturelles. Cet article montre que les fonds souverains, en particulier les fonds de stabilisation, ont un impact significatif et positif sur la mobilisation des impôts dans les secteurs hors ressources. En effet, le fait d'imposer une contrainte budgétaire supplémentaire aux pays riches en ressources naturelles encourage une meilleure mobilisation des recettes. Ce dernier résultat participe à l’identification des propositions permettant d'atteindre les objectifs du Consensus de Marrakech, qui a souligné l'importance d'une meilleure mobilisation des recettes intérieures.Enfin, nous concluons en formulant des recommandations de politiques économiques pratiques pour résoudre le problème de la malédiction des ressources naturellesThis thesis examines the effect of extractive natural resources on the macroeconomic environment of developing countries and addresses the issue of domestic resource mobilization in these countries. After reviewing the existing theoretical and empirical literature on the natural resource curse, it explores empirically the impact of giant oil and gas discoveries on the fiscal policy of developing countries and tests the effect of a solution promoted by multilateral institutions and governments to alleviate the challenges of the management of such resources. The first chapter highlights the negative impact of oil and gas discoveries on the likelihood of sovereign debt crises in sub-Saharan countries. This effect occurs mainly in countries with a high concentration of exports; conversely, it disappears for so-called diversified countries. This result is noteworthy because the countries in our study have already received debt relief through the Heavily Indebted Poor Countries (HIPC) initiative and the Multilateral Debt Relief Initiative (MDRI). The second chapter shows the impact of oil and gas discoveries on the composition of public expenditures in developing countries. It emphasizes the harmful effects of these discoveries on health and education spending. In addition, governments privilege less productive and more discretionary categories of spending, like military and social protection spending. The results of this chapter raise concerns about whether the first of the Sustainable Development Goals (SDGs) about economic growth will be achieved.The third chapter analyzes the impact of Sovereign Wealth Funds (SWFs) as a solution promoted by several governments. This article shows that SWFs, particularly stabilization funds, have a significant impact on addressing the deterrent effect of non-resource tax mobilization. Furthermore, imposing an additional fiscal constraint on resource-rich states encourages better revenue mobilization across non-resource sectors. This last result contributes to the discussion of options for achieving the objectives of the Marrakech Consensus, which emphasized the importance of better domestic revenue mobilization.Finally, we conclude by providing practical economic policy recommendations to address the multidisciplinary problem of natural resource curse
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Sawadogo, Pegdéwendé Nestor. "Fiscal policy and financing for development in developing countries". Thesis, Université Clermont Auvergne (2017-2020), 2020. http://www.theses.fr/2020CLFAD007.
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Cette thèse se pose la question de savoir comment la politique budgétaire pourrait être utilisée à des fins de financement du développement. Elle identifie et explore les canaux par lesquels les pays en développement peuvent efficacement mobiliser les ressources (internes et externes) pour le financement du développement. Pour cela, nous conduisons des recherches axées sur les politiques économiques (en utilisant des outils statistiques et économétriques appropriés) et nous formulons des recommandations de politiques économiques aux pays en développement. La première partie de cette thèse s’intéresse à la question de la mobilisation des ressources externes dans les pays en développement (Chapitre 1 et Chapitre 2). Dans le Chapitre 1, nous analysons les effets des dépenses publiques sur les spreads de taux dans les pays émergents. Nous montrons que les pays en développement pourraient avoir un meilleur accès aux marchés financiers internationaux en augmentant leurs investissements publics et en réduisant leurs dépenses courantes. Plus précisément, les dépenses en capital humain (éducation et santé) et autres infrastructures publiques réduisent considérablement les spreads de taux. Ils devraient également améliorer la qualité de la gouvernance puisque les marchés financiers récompensent les pays bien gouvernés à travers de meilleures conditions d'emprunt. Nous examinons, dans le Chapitre 2, la force des règles de politiques budgétaires en termes d’amélioration de l’accès des marchés financiers internationaux par les pays en développement. Nous trouvons que l’adoption de règles budgétaires réduit les taux d’intérêts sur la détention des obligations d’Etat souverains et par conséquent améliore l’accès aux marchés financiers. Nous expliquons ce résultat par le canal de la crédibilité de la politique budgétaire : les gouvernements crédibles sont récompensés sur les marchés financiers internationaux par de faibles taux d’intérêt et des notations élevées des dettes souveraines. Nos résultats prouvent que l’adoption et la bonne mise en œuvre des règles de politiques budgétaires constitue un moyen substantiel pour les décideurs publics d’améliorer l’accès des pays en développement aux marchés financiers internationaux. La deuxième partie de cette thèse se focalise sur ce que les pays en développement pourraient faire pour améliorer la mobilisation des ressources internes (Chapitre 3 et Chapitre 4). En effet, nous explorons la relation entre l’adoption des règles budgétaires et la réduction des inégalités de revenus (Chapitre 3) et nous trouvons que l’adoption des règles budgétaires réduit les inégalités de revenus. Ces pays pourront financer leur développement de façon soutenable (à travers la réduction des inégalités) en adoptant des règles budgétaires. En outre, nous évaluons les effets de la lutte contre les flux financiers illicites sur la mobilisation de recettes fiscales (Chapitre 4). Nous révélons que les pays qui respectent les Recommandations du Groupe d’Action Financière (GAFI) en matière de lutte contre le blanchiment d’argent et le financement du terrorisme (pays coopératifs) enregistrent des montants de recettes fiscales plus élevés comparativement aux pays qui ne respectent pas ces Recommandations (pays non coopératifs). Par conséquent, les pays en développement pourront mobiliser plus de recettes fiscales en mettant en œuvre des politiques visant à empêcher les flux financiers illicites. Par ailleurs, ils doivent mettre en place de bonnes institutionsThe central question of this thesis is how fiscal policy could be used for development finance purposes. Indeed, we identify and investigate pathways through which developing states can mobilize resources to improve sustainable development. For this purpose, we conduct policy-oriented researches (using suitable statistical and econometrical tools) and provide advices for developing countries. The first part of the dissertation addresses the issue of external resources mobilization in developing countries (Chapter 1 and Chapter 2). In Chapter 1, we investigate the effects of public expenditures on sovereign bond spreads in emerging market countries. We show that developing countries could have a better access to international financial market by supporting public investment and reducing current spending. Specifically, spending on human capital (education and health) and other public infrastructures significantly reduce bond spreads. They should also improve the quality of governance since financial markets award well-governed countries with better borrowing conditions. We examine, in Chapter 2, the strength of fiscal rules in terms of improving financial markets access for developing countries. We find that the adoption of fiscal rules reduces sovereign bond spreads and consequently improve financial market access. Indeed, this result is explained by the credibility of fiscal policy channel: more credible governments are rewarded in the international financial markets with low sovereign bond spreads and high sovereign debt ratings. Our findings confirm that the adoption and sound implementation of fiscal rules is an instrument for policy makers to improve developing countries’ financial market access. The second part of the dissertation focuses on what developing countries could do to improve internal resources mobilization (Chapter 3 and Chapter 4). As a matter of fact, we explore the relationship between fiscal rules and inequality (Chapter 3) and find that fiscal rules adoption contributes to reduce inequality in developing countries. The policy implication is that developing countries could finance their development in a sustainable way (via the reduction of inequalities) by adopting fiscal rules. Moreover, we assess the effects of combating illicit financial flows on domestic tax revenue mobilization in developing countries (Chapter 4). We highlight that countries which cooperate with international standards for anti-money laundering and combating the financing of terrorism (AML/CFT) are more able to mobilize tax revenue than countries which do not cooperate. Consequently, developing countries could mobilize more domestic tax revenue by implementing policies to curtail illicit financial flows. They should establish sound institutions
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Javidan, Darugar Mohammad Reza. "International Economic Dependency and Human Development in Third World Countries". Thesis, University of North Texas, 1996. https://digital.library.unt.edu/ark:/67531/metadc278243/.
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This study empirically tested the two competing development theories--modernization and dependency/world-system. Theoretical and methodological approaches suggested by these two paradigms offer opposing interpretations of the incorporation of the Third World countries into the world capitalist system. Therefore, they provide conflicting and, at times, confusing guidelines on the ways available to enhance the well-being of the general populations in these countries. To shed light on the subject matter, this study uses a few specific indicators of economic growth and human development by comparing the outcomes based on the two conflicting paradigms. The comparative process allows us to confirm the one theoretical approach that best explains human conditions in Third World settings. The study focuses on specific aspects of foreign domination--foreign investment, foreign trade, foreign debt, and the resulting disarticulated national economies. The main arguement, here, conveys the idea that as far as Third World countries are tied in an inescapable and unilaterally benefitial (to the core countries of course) economic and political relations, there will be no hope for any form of sustainable economic growth. Human well-being in Third World countries might very well depend on their ability to develop self-reliant economies with the least possible ties to the world capitalist system.
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Lindner, Thomas, Jakob Müllner e Jonas Puck. "Cost of capital in an international context: Institutional distance, quality, and dynamics". Elsevier, 2016. http://dx.doi.org/10.1016/j.intman.2016.01.001.
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Cost of debt is a key cognitive anchor for managerial decisions and an important determinant of firm profitability. We extend international management research by analyzing the effects of institutional distance, institutional quality, and their dynamics on the cost of debt in the context of foreign direct investments (FDI). We test our conceptual model on a sample of companies making 3,764 greenfield foreign direct investments from developed into less developed markets. Using hierarchical linear modelling, we show that the financial consequences of internationalizing into countries with weak institutions depend on both the institutional distance between countries, as well as their institutional quality. Furthermore, we find that recent changes in institutional quality form expectations about future development and ultimately influence post investment financing costs.
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Pemberai, Zambezi. "Relief or development? An analysis of the outcome of NGO community development interventions in Marange communal area of Zimbabwe". Thesis, University of Fort Hare, 2010. http://hdl.handle.net/10353/d1004360.
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Development is a critical aspect of individuals, groups, communities or nations. Community development is even more critical aspect of development as it purportedly leads to self reliance. Huge amounts of funds, time, and resources, just but to mention a few have been continuously channeled towards communities over time in a bid to facilitate community development. Unfortunately, results of such actions and interventions by NGOs, governments and a host of development agencies have so far largely proved elusive. Contrary to NGO expectations and popular opinion, target communities continuously demand, request and expect increased direct support from development agencies. Solving acute community problems and challenges, the focus of most NGO development interventions has been less successful. Target problems have largely graduated and turned to chronic levels. All this is unfortunately worsening against the background of increased donor and NGO support. Deteriorating and widening community challenges are also taking place against general claims by NGOs to the application of community development ideals in communities as a successful development alternative. Contrastingly, rather than being self reliant, communities have become more dependent on donors. In addition, NGO target communities continue to grapple with short-lived changes, limited participation by the majority, reversal of past successes and dwindling self representation and reliance. Inequalities have widened. This is to the detriment of ongoing NGO claims and efforts at promoting community development. Development is a critical aspect of individuals, groups, communities or nations. Community development is even more critical aspect of development as it purportedlyleads to self reliance. Huge amounts of funds, time, and resources, just but to mention a few have been continuously channeled towards communities over time in a bid to facilitate community development. Unfortunately, results of such actions and interventions by NGOs, governments and a host of development agencies have so far largely proved elusive. Contrary to NGO expectations and popular opinion, target communities continuously demand, request and expect increased direct support from development agencies. Solving acute community problems and challenges, the focus of most NGO development interventions has been less successful. Target problems have largely graduated and turned to chronic levels. All this is unfortunately worsening against the background of increased donor and NGO support. Deteriorating and widening community challenges are also taking place against general claims by NGOs to the application of community development ideals in communities as a successful development alternative. Contrastingly, rather than being self reliant, communities have become more dependent on donors.
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Gabriani, Carlos Roberto. "O financiamento da inovação tecnológica em países em desenvolvimento : uma abordagem teórica com aplicação para a economia brasileira". reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2016. http://hdl.handle.net/10183/150544.
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No presente trabalho faz-se uma análise teórica sobre o financiamento da inovação tecnológica com ênfase para os países em desenvolvimento, ou em processo de catching up, com aplicação para a economia brasileira. Sua importância resulta da necessidade de se entender o papel que as inovações passaram a ter enquanto fator capaz de estreitar as diferenças existentes entre os países avançados e em desenvolvimento. Objetiva-se demonstrar que nesses países a dinâmica e o processo inovativo caracterizam-se por estruturar-se predominantemente sobre a difusão, absorção e uso de tecnologias, com implicações diferenciadas sobre o seu financiamento, e que, nesse contexto, o sistema financeiro e os mercados de capitais ganham destaques enquanto instituições integrantes do sistema nacional de inovação capazes de afetar as condições de exequibilidade do financiamento (finance) e de consolidação financeira das dívidas (funding) das empresas inversoras e/ou inovadoras. Para alcançar esses objetivos realiza-se uma incursão sobre as contribuições teóricas das abordagens pós-keynesianas e neoschumpeterianas com vistas a ressaltar os elementos que possibilitam entender a dinâmica inovativa e o papel do sistema financeiro em financiar as atividades inovativas das empresas desses países. O comportamento da firma bancária é analisado destacando suas implicações sobre o financiamento da inovação Faz-se ainda uma análise sobre as conexões entre crédito, ciclo econômico e financiamento e busca-se estabelecer as relações entre financiamento e processo de consolidação financeira das dívidas das empresas alavancadas. Analisa-se também o financiamento da inovação tendo em vistas as idiossincrasias em termos da dinâmica e do processo inovativo nos países em desenvolvimento ou em processo de catching up. Finalmente, a partir dos dados da PINTEC/IBGE, faz-se uma investigação sobre as relações entre a dinâmica e o processo inovativo das empresas brasileiras e o papel do sistema financeiro e dos mercados de capitais nacionais no seu financiamento. Conclui-se que nos país em desenvolvimento o sistema financeiro e os mercados de capitais desempenham papel diferenciado no financiamento da inovação tecnológica, dadas as especificidades concernentes ao risco e à incerteza que caracterizam seu processo inovativo, e que no caso brasileiro o Estado ocupa um espaço no financiamento das atividades inovativas das empresas brasileiras que poderia ser razoavelmente desempenhado pelo sistema financeiro nacional.This work presents a theoretical analysis on the financing of technological innovation with emphasis on developing countries, or in the process of catching up, with application to the Brazilian economy. Its importance stems from the need to understand the role that innovations have been given as a factor able to narrow the differences between the advanced and developing countries. The goal is to show that in these countries the dynamics and the innovation process is characterized by structuring predominantly on the diffusion, absorption and use of technologies, with different implications for their financing, and in that context, the financial system and capital markets are highlighted as institutions of the national innovation system that may affect the funding feasibility conditions (finance) and financial consolidation of debt (funding) of inverting companies and / or innovative companies. To achieve these objectives a raid on the theoretical contributions of post-Keynesian and neo-Schumpeterian approaches was carried out in order to highlight the elements that make it possible to understand the innovative dynamics and the role of the financial system to finance the innovative activities of companies in these countries. The banking firm's behavior is analyzed contrasting its implications on the financing of innovation. It is further an analysis of the connections between credit and economic cycle and funding and seeks to establish the relationship between financing and financial consolidation of the debts of leveraged companies. It also looks up the financing of innovation with a view of idiosyncrasies in terms of dynamic and innovative process in developing countries, or catching up process Finally, from the PINTEC / IBGE data, an investigation is made on the relationship between the dynamics and the innovation process of Brazilian companies and the role of the financial system and of national capital markets in its funding. It is concluded that in developing countries the financial system and capital markets play different role in the financing of technological innovation, given the specificities pertaining to risk and uncertainty that characterize its innovative process, and that in the Brazilian case the State occupies a space the financing of innovative activities of Brazilian companies that could reasonably be played by the national financial system.
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Schreeb, Johan von. "Needs assessment for international humanitarian health assistance in disasters /". Stockholm, 2007. http://diss.kib.ki.se/2007/978-91-7357-375-7/.
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Aswalap, Supaluk Joy. "Tsunami disaster response: A case analysis of the information society in Thailand". Thesis, University of North Texas, 2009. https://digital.library.unt.edu/ark:/67531/metadc12075/.
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The December 2004 Indian Ocean Tsunami wrecked thousands of lives, homes, and livelihoods - losses that could have been avoided with timely and better information. A resource such as information is needed at a fundamental level much like water, food, medicine, or shelter. This dissertation examines the development of the Thai information society, in terms of the share of information workforce and the level of diffusion of information and communication technologies (ICT), as well as, the role of the Thai information society in response to the tsunami disaster. The study combined the historical and political economy analyses in explaining factors influencing the growth of information workforce and the development of ICT in Thailand. Interviews conducted in 2007-08 revealed the Thai information society responded to the 2004 Tsunami - the first global internet-mediated natural disaster - in two areas: on-site assistance in collecting and recording identification information of tsunami disaster victims and on-line dissemination of disaster relief information. The effectiveness of ICT institutions in providing the tsunami disaster relief efforts and increasing the development of the information society were assessed using statistical procedures analyzing the perceptions of the Internet-based survey respondents. The disaster effects on survey respondents were also assessed. The study's findings include: (1) the Thai information sector development pattern confirmed a key difference between development patterns of information sectors in developed and developing countries, (2) the increasing number of Thai information workers was due more to the expansion of government than the expansion in the manufacturing and service sectors during the 1997-98 Asian financial crisis, (3) Thailand's expansion of ICT infrastructure was influenced not only on the basis of economic profitability but also by political desirability, and (4) volunteers were crucial in humanitarian aid and disaster relief.
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Bukari, Shaibu. "Parts unknown : a critical exploration of Fishers' social constructs of child labour in Ghana". Thesis, University of Sussex, 2016. http://sro.sussex.ac.uk/id/eprint/61740/.
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This study from the onset sought to explore, through a postcolonial critique, the meaning ascribed to child labour by fishers in a fishing community in Ghana. The purpose was to inform practice in social work so that social justice might be achieved for working children and their parents. However the study expanded, methodologically and theoretically, to preliminarily include a psychoanalytically informed psychosocial and discursive approach, extending the postcolonial critique to develop a nuanced understandings of the fishers' lived experience of, and responses to, children's work. Distinct from the dominant reductionist and positivistic etiologic understandings of child labour, this approach neither derides child labour as morally reprehensible and unequivocally dangerous, nor romanticises its beneficial aspects and links to cultural and traditional beliefs and practices (see Klocker, 2012). Instead, enables understanding of the fishers as ‘defended subjects' who invest in certain discourses as a way of defending against their vulnerable selves. It also affords a critically reflexive understanding of myself as a ‘defended researcher', owing to my semi-insider position as a former child labourer, and of the impact of this on my research relationships and findings. The study is intended to inform social worker practices in order to deal with complex situations concerning the relationship among fishers and their children paying equal attention both to the inner and the social circumstances of the fishers (Wilson, Ruch, Lymbery, & Cooper, 2011). In this regard it is inspired by Mel Gray's (2005) contention that social work practice should be shaped by the extent to which local social, political, economic, historical and cultural factors, as well as local voices, mould and shape social work responses. The study is conducted using critical ethnographic design that draws on the lived experiences of 24 fishers. Attempts were made to explore the fishers' experiences using psychoanalytically informed method (FANI) in addition to other conventional methods. The study highlights the fishers' use of narratives of slavery to explicate child labour. It focuses on the relationships that the fishers' have developed with their children and with the laws surrounding the use of children in work. It gives an indication of how the fishers' violently and aggressively relate with their working children. It also highlights the fishers' rejection of the laws surrounding child labour as being foreign and an imposition which excludes customary laws. The study further examines the identities the fishers developed in relation to laws that regulate them and children's work. It suggests that others see the fishers as powerless subjects who don't matter. It also underscores my shame and worries as a researcher considered by the fishers as an ‘educated elite' who works for ‘white people'. It further highlights how I provided self-justifying explications to defend myself as a researcher. The findings imply that solutions to child labour need to be localised paying equal attention to both the psyche and the social life of the fishers. They speak to the imperative for critical review of social workers/NGOs practices taking into account the unconscious processes that go on between fishers as parents and social workers as service providers. This thesis introduces a psychosocial dimension and insight into debates on child labour in Ghana.
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Ferry, Marin. "Four Essays on Financing for Development". Thesis, Paris Sciences et Lettres (ComUE), 2017. http://www.theses.fr/2017PSLED065/document.
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Cette thèse propose une analyse empirique de deux stratégies majeures du financement du développement; les annulations de dette et la mobilisation des ressources domestiques. Les trois premiers chapitres tentent d'analyser les effets des annulations de dette du début des années 2000 sur les finances publiques et les possibilités de réendettement des gouvernements bénéficiaires. Nos résultats montrent que les annulations de dette concédées via les initiatives PPTE et IADM ont permis d'améliorer significativement la composition budgétaire des gouvernements récipiendaires et de diversifier leurs sources de financement. Néanmoins, d'autres résultats mettent en lumière l'existence d'un aléa moral induit par ces initiatives, nécessitant ainsi une surveillance accrue des politiques budgétaires, notamment une fois l'annulation de dette octroyée. Enfin, le quatrième chapitre tente de revisiter la relation entre fiscalité et croissance en adoptant une approche macro-micro à l'aide de données de firmes. Notre analyse montre que la fiscalité est bénéfique à l'activité des entreprise, en particulier celles des pays à faible revenu. Par ailleurs, d'autres résultats suggèrent que cet effet est renforcé lorsque ces mêmes firmes font face à une faible corruption, réitérant ainsi la nécessité pour les pays en développement d'établir un environnement économique et politique sainThis thesis aims at investigating empirically the effects of two financing strategies for low-income countries; debt relief and taxation. The first three chapters focus on the consequences of debt relief for public finance and new external financing. Results show that cancellations granted under the multilateral debt relief initiatives have been beneficial for recipient countries by significantly improving the composition of their budget and widening financing opportunities. However, findings also underline the risk of moral hazard stemming from these initiatives which thus calls for continuous sound fiscal management, especially after debt relief. Lastly, the fourth chapter revisits the taxation-growth nexus adopting a macro-micro approach. Using firm-level data in developing countries our findings suggest that taxation is favorable to firms' activity, especially when firms operate in poor countries characterized by a significant lack of infrastructure. Moreover, this effect of taxation seems to be maximal in the absence of corruption, hence reaffirming the need for healthy and enabling economic and political environments in developing countries
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Macháčková, Jana. "Budování světového partnerství pro rozvoj v současné subsaharské Africe". Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-85190.
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The thesis deals with the Goal 8 of the Millennium Development Goals called "Develop a global partnership for development" and monitor its fulfilment in the Sub-Saharan Africa region. The emphasis is laid on three important areas included in the Goal 8 and these are official development assistance, access of developing countries on markets of developed countries and external debt burden of developing states. The aim of the thesis is to capture present development in these areas by selected official indicators, which were set by United Nations, compare their current development with the initial year 1990 and on the basis of available data from past three years assess probable future progress in the mentioned areas. Final part of the thesis includes case study of selected Sub-Saharan countries, Ghana and Lesotho.
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Sow, Moussé Ndoye. "Essays on Exchange Rate Regimes and Fiscal Policy". Thesis, Clermont-Ferrand 1, 2015. http://www.theses.fr/2015CLF10479/document.
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Cette thèse s’intéresse d’une part aux effets macroéconomiques des régimes de change, et d’autre part, aux récentes évolutions sur la politique budgétaire et la décentralisation. La partie I met essentiellement l’accent sur l’interaction entre les régimes de change (RC) et la politique budgétaire, monétaire et fiscale. Tout d’abord, nous mettons en évidence que les RC peuvent avoir un effet stabilisateur sur la politique budgétaire (chapitre 1). Cependant, cet effet stabilisateur des RC n’est pas automatique mais dépendrait plutôt des conséquences d’une politique budgétaire laxiste. Le chapitre 2 s’intéresse quant à lui à la causalité entre RC et crises (bancaire/financière, de change et de dette) et remet en cause la vision bipolaire qui prétendait que les RC intermédiaires sont plus vulnérables aux crises que les solutions en coin (RC fixes/flexibles). Il ressort de notre analyse que les fondamentaux macroéconomiques (la volatilité du crédit au secteur privé, le financement du déficit, et le ratio dette sur PIB) jouent un rôle considérable. Le chapitre 3 met en évidence un lien entre les RC et la politique fiscale. Les pays à RC fixes montrent une plus grande dépendance aux recettes domestiques –telles que la TVA-, comparativement aux pays en change intermédiaires/flexibles pour compenser les pertes de recettes de seigneuriage (effet de substitution). De plus, ces pays avec RC fixes collectent plus de recettes domestiques en compensation de la perte de recettes douanières, suite à la libéralisation commerciale (effet de compétitivité). Dans les trois derniers chapitres (partie II), nous mettons le focus sur la politique budgétaire et les effets de la décentralisation. Le chapitre 4 révèle une relation non-linéaire entre la politique budgétaire et le cycle économique, qui dépend du niveau de la dette publique. Lorsque celle-ci dépasse un certain seuil (87%), la politique budgétaire perd toute propriété contra-cyclique. Nous montrons par ailleurs que l’effet disciplinaire ex-ante des règles budgétaires aide à restaurer la contra-cyclicité de la politique budgétaire. A travers le chapitre 5, nous montrons que la décentralisation budgétaire, dans un cadre politico-institutionnel sein et dépourvu de corruption, améliore l’offre de biens et services publics. Le chapitre 6 conclut que la décentralisation impacte positivement le solde structurel. Cependant une asymétrie entre la décentralisation des dépenses et celle des recettes accroit la dépendance des gouvernements locaux vis-à-vis du gouvernement central en termes de transferts, et amoindrirait considérablement à l’effet positif de la décentralisationThis thesis explored, in two parts, the macroeconomic impacts of exchange rate regimes (ERR), as well as the recent developments in fiscal policy and fiscal decentralization. Part I has reconsidered the role of ERR and its interplay with fiscal, monetary and tax policy. The first result that emerges (Chapter 1) is that fixed ERR can serve as a credible policy tool for stabilizing fiscal policy. However, this stabilizing effect is conditional upon the inter-temporal distribution of the costs of loose fiscal policy. In assessing the linkage between ERR and crises (banking/financial, currency and debt), Chapter 2 evidenced that the bipolar view is no longer valid, and that, crisis proneness rather depends on the macroeconomic fundamentals (the volatility of private sector credit, the deficit-financing mechanism, and the debt-to-GDP ratio). In Chapter 3, we unveiled a strong relationship between ERR and tax policy. Countries with pegged regimes have greater reliance on domestic taxation -such as the VAT- to make up for the loss of seigniorage revenue (substitution effect). Moreover, peggers tend to collect more VAT revenue to offset the shortfall in cross border taxes following the trade liberalization reform (competitiveness effect). Part II discussed the cyclical response of fiscal policy in high debt periods, and focused on fiscal decentralization issues. In Chapter 4, we showed that the reaction of fiscal policy to the business cycle is non-linear and conditional to the level of public debt. When the debt-to-GDP ratio goes beyond a certain threshold (87%), fiscal policy loses its counter-cyclical properties. Further, we highlighted that carefully-designed fiscal rules help maintaining counter-cyclicality through an ex ante disciplinary effect. Chapters 5 and 6 analyzed the impact of fiscal decentralization on the efficiency of public service delivery and fiscal policy performance, respectively. Chapter 5 revealed that a sufficient level of expenditure decentralization, coupled with revenue decentralization, improves the efficiency of public service delivery. However, the political and institutional environment is critical for reaping decentralization-led benefits. Lastly, Chapter 6 concluded that fiscal decentralization has destabilizing effect by reducing the counter-cyclicality of fiscal policy. In addition, we found that decentralization strengthens the structural fiscal balance; however, vertical fiscal imbalances reduce the benefits of decentralization. It is therefore critical to limit asymmetries between expenditure and revenue decentralization, so as to reduce the transfer-dependency of local governments to the central level, and thus prevent decentralization from weakening the fiscal stance at the general government level
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Kinuthia, Wanyee. "“Accumulation by Dispossession” by the Global Extractive Industry: The Case of Canada". Thèse, Université d'Ottawa / University of Ottawa, 2013. http://hdl.handle.net/10393/30170.
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This thesis draws on David Harvey’s concept of “accumulation by dispossession” and an international political economy (IPE) approach centred on the institutional arrangements and power structures that privilege certain actors and values, in order to critique current capitalist practices of primitive accumulation by the global corporate extractive industry. The thesis examines how accumulation by dispossession by the global extractive industry is facilitated by the “free entry” or “free mining” principle. It does so by focusing on Canada as a leader in the global extractive industry and the spread of this country’s mining laws to other countries – in other words, the transnationalisation of norms in the global extractive industry – so as to maintain a consistent and familiar operating environment for Canadian extractive companies. The transnationalisation of norms is further promoted by key international institutions such as the World Bank, which is also the world’s largest development lender and also plays a key role in shaping the regulations that govern natural resource extraction. The thesis briefly investigates some Canadian examples of resource extraction projects, in order to demonstrate the weaknesses of Canadian mining laws, particularly the lack of protection of landowners’ rights under the free entry system and the subsequent need for “free, prior and informed consent” (FPIC). The thesis also considers some of the challenges to the adoption and implementation of the right to FPIC. These challenges include embedded institutional structures like the free entry mining system, international political economy (IPE) as shaped by international institutions and powerful corporations, as well as concerns regarding ‘local’ power structures or the legitimacy of representatives of communities affected by extractive projects. The thesis concludes that in order for Canada to be truly recognized as a leader in the global extractive industry, it must establish legal norms domestically to ensure that Canadian mining companies and residents can be held accountable when there is evidence of environmental and/or human rights violations associated with the activities of Canadian mining companies abroad. The thesis also concludes that Canada needs to address underlying structural issues such as the free entry mining system and implement FPIC, in order to curb “accumulation by dispossession” by the extractive industry, both domestically and abroad.
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Bloodgood, Laura Susan. "The politics of sovereign debt rescheduling government versus commercial bank lending to developing countries /". 1993. http://catalog.hathitrust.org/api/volumes/oclc/32357934.html.
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SINNOT, Emily. "Financial flows to the developing countries : a look at aid, dept relief and IMF programmes". Doctoral thesis, 2006. http://hdl.handle.net/1814/6581.
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Defence date: 18 September 2006Examining board: Anindya Banerjee, European University Institute ; George Mavrotas, United Nations University, Finland ; Roberto Perotti, Supervisor, Università Bocconi ; Beatrice Weder, Johannes-Gutenberg-University of Mainz
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017
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VAN, DEN BOSSCHE Peter. "European Community food aid as an instrument for economic and social development and humanitarian relief? : prospects for and constraints on further changes in European Community food aid law". Doctoral thesis, 1991. http://hdl.handle.net/1814/4575.
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Okachi, Michinao. "Essays on Sovereign Debt Crisis". Phd thesis, 2017. http://hdl.handle.net/1885/141436.
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This thesis consists of three chapters that aim to develop
economic models to explain sovereign debt crises. Chapter 2
provides the dynamic general equilibrium model of endogenous
sovereign default, incorporating financial intermediaries. By a
government's decision to default, government bonds become
non-performing and financial intermediaries eliminate them from
their net worth. While other literature on endogenous default
models assumes that the default state is exogenously given, only
depending on TFP or endowment, the model in Chapter 2 creates a
mechanism by which the default state is contingent on the amount
of debt outstanding in the non-default state. Through this
feature, the model quantifies the financial amplification effect
on the economy and shows the phenomenon of "Too-Big-to-Default".
The model explains the important features of the Argentinean
default in 2001, capturing the default frequency, the debt-to-GDP
ratio and moments of main variables.
Chapter 3 proposes a new sovereign debt crisis model which is
applicable to an advanced country, assuming the government's
incapability to serve its debts rather than willingness of
repayment. The fiscal limit is defined as the sum of discounted
future primary surplus under the tax rate to maximize tax
revenue. When the debt outstanding exceeds the fiscal limit, the
government falls into debt crisis. The economic contraction in
the crisis results from the exogenous tax rate and decreased
imported inputs. The model replicates the high debt-to-GDP ratio,
which the endogenous model cannot assume, and captures movements
of important variables of the Spanish debt crisis in around
2012.
Chapter 4 introduce foreign bonds based on the model in
Chapter 3, for the analysis of several countries such as Greece
and Ireland in which a majority of bonds is held by foreign
agents. In the model, the government issues bonds for foreign
investors, and that leads the outflow of domestic output. Instead
of government bonds, households adopt capital for their
inter-temporal utility maximization. Also, the fiscal limit is
drawn from the exogenous distribution. The simulation result for
the Greek economy generally explains the contraction of its
economy by the crisis in around 2012 although the effect of
imported inputs is overestimated and that of domestic inputs is
underestimated.
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Huang, Chih-Tang, e 黃誌堂. "The Impact of Macroeconomic Variables and Defense Expenditures on Government External Debt in Developing Countries: A Panel Analysis". Thesis, 2011. http://ndltd.ncl.edu.tw/handle/45785889534004764588.
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碩士國防大學管理學院
財務管理學系
99
Previous studies focus on the impact of defense expenditures on economic growth. Recently some studies have begun to evaluate whether defense expenditures will worsen government external debt. These studies observe single country and do not consider other macroeconomic variables. Since developing countries are facing the same phenomenon of rising external liabilities and increasing defense expenditures, this research survey many developing countries and consider the impacts of macroeconomic variables on government external debt. The research sample includes 32 developing countries covering 22 years data, from 1988 to 2009, and panel data analysis is adopted. Empirical results supports that defense expenditures positively affect the increase of government external debt, but less positive effect on government external debt in high income countries.
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Armstrong, Adrienne. "Debt and development the impact of the international financial system on development strategies in the periphery /". 1986. http://catalog.hathitrust.org/api/volumes/oclc/19539981.html.
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