Bank Exposure Capital And Secondary Market Discounts On The Developing Country Debt

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Sovereign Debt Restructurings 1950-2010

Author : Mr.Udaibir S. Das
Publisher : International Monetary Fund
ISBN 13 : 1475505531
Total Pages : 128 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das

Download or read book Sovereign Debt Restructurings 1950-2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.

NBER Macroeconomics Annual 1992

Author : Olivier Blanchard
Publisher : MIT Press
ISBN 13 : 9780262521741
Total Pages : 312 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis NBER Macroeconomics Annual 1992 by : Olivier Blanchard

Download or read book NBER Macroeconomics Annual 1992 written by Olivier Blanchard and published by MIT Press. This book was released on 1992 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the seventh in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents What Shall We Do Today? Goals and Signposts in the Operation of Monetary Policy, Ben S. Bernanke and Frederic S. Mishkin - A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore, Alwyn Young - International Trade and the Wage Structure, Steven J. Davis - Imperfect Information and Macroeconomic Analysis, Joseph E. Stiglitz and Bruce Greenwald - Asset Pricing Lessons for Macroeconomics, Lars P. Hansen and John H. Cochrane - Postmortem on the Debt Crisis, Daniel Cohen

Dealing with the Debt Crisis

Author : Ishrat Husain
Publisher : World Bank Publications
ISBN 13 : 9780821312469
Total Pages : 326 pages
Book Rating : 4.3/5 (124 download)

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Book Synopsis Dealing with the Debt Crisis by : Ishrat Husain

Download or read book Dealing with the Debt Crisis written by Ishrat Husain and published by World Bank Publications. This book was released on 1989 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debt crisis in perspective; Debt management in the late 1980s; Debt reduction and recontracting.

Quarterly Journal

Author : United States. Office of the Comptroller of the Currency
Publisher :
ISBN 13 :
Total Pages : 556 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Quarterly Journal by : United States. Office of the Comptroller of the Currency

Download or read book Quarterly Journal written by United States. Office of the Comptroller of the Currency and published by . This book was released on 1989 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Deposit Insurance

Author :
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Deposit Insurance by :

Download or read book Deposit Insurance written by and published by . This book was released on 2000 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Convergence of Capital Measurement and Capital Standards

Author :
Publisher : Lulu.com
ISBN 13 : 9291316695
Total Pages : 294 pages
Book Rating : 4.2/5 (913 download)

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Book Synopsis International Convergence of Capital Measurement and Capital Standards by :

Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Emerging Capital Markets and Globalization

Author : Augusto de la Torre
Publisher : World Bank Publications
ISBN 13 : 0821365444
Total Pages : 232 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Emerging Capital Markets and Globalization by : Augusto de la Torre

Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Global Waves of Debt

Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Capital Flows and the Emerging Economies

Author : Sebastian Edwards
Publisher : University of Chicago Press
ISBN 13 : 0226184722
Total Pages : 366 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Capital Flows and the Emerging Economies by : Sebastian Edwards

Download or read book Capital Flows and the Emerging Economies written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2008-04-15 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes—in Mexico, Thailand, South Korea, Russia, and Brazil—were all exacerbated by speculative foreign investments and high-volume movements of capital in and out of those countries. Insufficient domestic controls and a sluggish international response further undermined these economies, as well as the credibility of external oversight agencies like the International Monetary Fund. This timely volume examines the correlation between volatile capital mobility, currency instability, and the threat of regional contagion, focusing particular attention on the emergent economies of Latin America, Southeast Asia, and Eastern Europe. Together these studies offer a new understanding of the empirical relationship between capital flows, international trade, and economic performance, and also afford key insights into realms of major policy concern.

Contemporary Economic Issues

Author : D. Cohen
Publisher : Springer
ISBN 13 : 1349260843
Total Pages : 206 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Contemporary Economic Issues by : D. Cohen

Download or read book Contemporary Economic Issues written by D. Cohen and published by Springer. This book was released on 2016-07-27 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive overview of current research in the field of trade, payments and debt. Grossman and Helpman provide a non-technical review of the literature on technological deteminants of trade. Thisse and Fujita discuss current work on the spatial configuration of economic activities. Robert Findlay tracks world trade from 1000 to 1750, while Robert Baldwin surveys the impact of international trading alliances. In his Presidential paper, the World Bank Vice-President Michael Bruno looks at the pattern of debt crises and economic recovery. The sustainability of external debt in Africa is examined by Daniel Cohen. Alberto Giovannini's argues the case for flexible exchange rates.

The Three Laws of International Investment

Author : Jeswald W. Salacuse
Publisher : OUP Oxford
ISBN 13 : 0191665304
Total Pages : 472 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Three Laws of International Investment by : Jeswald W. Salacuse

Download or read book The Three Laws of International Investment written by Jeswald W. Salacuse and published by OUP Oxford. This book was released on 2013-02-14 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: International investments are governed by three different legal frameworks: 1) national laws of both the host country and the investor's home country; 2) contracts, whether between the investor and the host country or among investors and their associates; and 3) international law, consisting of applicable treaties, customs, and general principles of law. Together, these three frameworks profoundly influence the organization, operation, and protection of foreign investments. Investors, government officials, and their legal counsel must therefore understand the complex interaction among these frameworks and how best to employ them to advance their interests. This book examines the content of each of these three legal frameworks for international investment and explores how they influence the foreign investment process and the nature of investment transactions, projects, and enterprises. The book is divided into five parts. Part I, after explaining the contemporary nature and significance of international investment, examines the theoretical and practical links between law and the investment process. Part II explores the nature of national laws regulating foreign investment. Part III considers of the various contractual frameworks for international investments, looking at their negotiation, content, and stability. Part IV sets out the international legal framework governing foreign investment, focusing on the content and nature of investment treaties and on general principles. Finally, Part V discusses how the three legal frameworks interact with each other. By comprehensively examining each of the applicable legal frameworks, this book provides a vital overview of the laws, rules, and regulations governing foreign investment for lawyers, scholars, students, and government officials.

The Sustainability of African Debt

Author : Daniel Cohen
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4./5 ( download)

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Book Synopsis The Sustainability of African Debt by : Daniel Cohen

Download or read book The Sustainability of African Debt written by Daniel Cohen and published by World Bank Publications. This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: July 1996 The role of debt forgiveness is to alleviate what is known as debt overhang. This concept is the core idea of the Brady deals, and it now comes to the African debt crisis. How can one gauge the hypothesis of the debt overhang? To what extent can one attribute the growth slowdown of the 1990s to the debt crisis of the 1980s? Using data from the past decade, the author finds that debt variables play a significant role in that slowdown. In one exercise, he finds that more than half the growth slowdown of the large debtor countries in the 1980s could be attributed to the debt crisis. To what reasonable debt ratio should African debt be written down? Most exercises set the threshold of sustainability of debt at about 200 percent. The easiest way to rationalize such a threshold is first to measure the average value of debt-to-export ratios reached at the time of the first rescheduling of debt in a given country. Using Latin America as a benchmark, one finds an average threshold of 248 percent. However short-sighted such a ratio might be, it goes a long way toward rationalizing the view that a debt-to-export ratio between 200 and 300 percent is a strong signal of a forthcoming crisis. This naive approach takes no account of the changing environment (growth and interest rates) a country must confront. A more subtle approach should allow for the prospect of a country's growth to assess the sustainability of the debt it inherits. With the author's formula for so doing, Africa's debt-to-export ratio should be brought to 198 percent. Another way to assess the sustainability of debt is to look at the secondary market, which allows one to estimate the prospect of repayment expected by market participants. Few African debts are actually quoted on secondary markets, but the author presents a formula for reconstructing estimates of repayment prospects econometrically. By that method, Africa's debt-to-export ratio should be 210 percent, suggesting that a threshold between 200 and 250 percent is about right.

International Finance

Author : Dilip Das
Publisher : Routledge
ISBN 13 : 1134871953
Total Pages : 637 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis International Finance by : Dilip Das

Download or read book International Finance written by Dilip Das and published by Routledge. This book was released on 2003-09-02 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as: * organization of foreign exchange markets * determination of exchange rates * the fundamental principles of international finance * foreign exchange risk and exposure * fixed and flexible exchange rates. This impressive new edition builds and improves upon the popular style and structure of the original. With new data, improved pedagogy, and coverage of all of the main developments in international finance over the last few years, this book will prove essential reading for students of economics and business.

International Finance

Author : Dilip Das
Publisher : Routledge
ISBN 13 : 1134871961
Total Pages : 636 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis International Finance by : Dilip Das

Download or read book International Finance written by Dilip Das and published by Routledge. This book was released on 2003-09-02 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as: * organization of foreign exchange markets * determination of exchange rates * the fundamental principles of international finance * foreign exchange risk and exposure * fixed and flexible exchange rates. This impressive new edition builds and improves upon the popular style and structure of the original. With new data, improved pedagogy, and coverage of all of the main developments in international finance over the last few years, this book will prove essential reading for students of economics and business.

Impact of Accounting and Regulatory Procedures on the Third World Debt Problem

Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Development, Finance, Trade, and Monetary Policy
Publisher :
ISBN 13 :
Total Pages : 118 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Impact of Accounting and Regulatory Procedures on the Third World Debt Problem by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Development, Finance, Trade, and Monetary Policy

Download or read book Impact of Accounting and Regulatory Procedures on the Third World Debt Problem written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Development, Finance, Trade, and Monetary Policy and published by . This book was released on 1989 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Economic and Financial Surveys

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451941781
Total Pages : 152 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis World Economic and Financial Surveys by : International Monetary Fund

Download or read book World Economic and Financial Surveys written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses recent trends in international capital markets. It reviews, in particular, the forces currently reshaping the markets of industrial countries and confronting financial institutions with major challenges. For the international capital markets, 1988 was generally a year of recovery. The international securities markets, depressed during the second and third quarters of 1987 and badly shaken by the October market break, rebounded in 1988. Intensifying competition and changing regulatory requirements characterize contemporary financial markets. Competition has been fostered by the internationalization of institutions, the liberalization of domestic markets, technological advances in data processing and telecommunications, and financial product innovations that more extensively link traditional banking and securities markets. A fundamental task of financial intermediaries is to appraise and assume risk and to charge for it appropriately. As a result of regulatory change, the growth of derivative product markets, and technological innovation, competitive pressure appears to be increasing the general level of risk assumed by intermediaries, while only partially providing the tools needed to manage that risk.

Analytical Issues in Debt

Author : Mr.Peter Wickham
Publisher : International Monetary Fund
ISBN 13 : 9781557750419
Total Pages : 430 pages
Book Rating : 4.7/5 (54 download)

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Book Synopsis Analytical Issues in Debt by : Mr.Peter Wickham

Download or read book Analytical Issues in Debt written by Mr.Peter Wickham and published by International Monetary Fund. This book was released on 1989-03-15 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Jacob A. Frenkel, Michael P. Dooley, and Peter Wickham, presents a sample of the work of the IMF and that of world-renowned scholars on the analytical issues surrounding the explosion of countries with debt-servicing difficulties and describes debt initiatives and debt-reduction techniques that hold the best promise for finding a lasting solution to the problems of debtor countries.