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Optimal Borrowing Policies For Developing Countries
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Book Synopsis Optimal Borrowing Policies for Developing Countries by : International Monetary Fund
Download or read book Optimal Borrowing Policies for Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1987-06-10 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a theoretical framework for analyzing external debt policies of developing countries and applies it to assess the cases of three Asian countries, namely Korea, the Philippines, and Thailand. The “optimal debt policy” for a developing country is characterized in the first part of the paper. In the second, the experiences of these three countries during the period 1965–83 are compared with this theoretical benchmark. The empirical results show that, during this period, Korea was quite successful in managing its external debt, while the Philippines was less successful. The case of Thailand, in many respects, fell in between the other two, although closer to that of Korea.
Book Synopsis Optimal Borrowing Policies for Developing Countries: the Case of Korea, the Philippines and Thailand 1965-83 by : A. Alesina
Download or read book Optimal Borrowing Policies for Developing Countries: the Case of Korea, the Philippines and Thailand 1965-83 written by A. Alesina and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Borrowing Policies for Developing Countries by : International Monetary Fund. Asian Department
Download or read book Optimal Borrowing Policies for Developing Countries written by International Monetary Fund. Asian Department and published by . This book was released on 1987 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Borrowing by Developing Countries by : Marilyn J. Seiber
Download or read book International Borrowing by Developing Countries written by Marilyn J. Seiber and published by Elsevier. This book was released on 2013-10-22 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Borrowing by Developing Countries analyzes the various aspects of developing-country debt. The title covers various concepts such as theory of borrowing, official and private debt, petrofund recycling, and debt relief. The text first deals with role of external capital and debt in economic development, and then proceeds to examining the historical debt experience of the now-creditor countries. Next, the selection tackles the official bilateral and multilateral debt along with its patterns, magnitude, and the procedures and experience of official debt rescheduling. The text also analyzes the private Eurocurrency debt and the official positions on debt relief and reviews proposals for recycling petrofunds and providing new sources of financing. The last part deals with the political factors that will affect external debt, as well as recommendations for future policy. The book will be of great interest to economists, political scientists, game theorists, and sociologists.
Book Synopsis OPTIMAL BORROWING POLICIES FOR DEVELOPING COUNTRIES: THE CASES OF KOREA, THE PHILIPPINES, AND THAILAND, 1965 - 1983 by : Alberto Francesco ALESINA
Download or read book OPTIMAL BORROWING POLICIES FOR DEVELOPING COUNTRIES: THE CASES OF KOREA, THE PHILIPPINES, AND THAILAND, 1965 - 1983 written by Alberto Francesco ALESINA and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Grants Versus Loans written by Hulya Ulku and published by International Monetary Fund. This book was released on 2004-09-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under what conditions should grants be preferred to loans? To answer this question, we present a simple model à la Krugman (1988) and show that, for any given level of developmental assistance, the optimal degree of loan concessionality is positively associated with economic growth if countries are poor, have bad policies, and high debt obligations. We then test our model by estimating a modified growth model for a panel of developing countries, and find evidence supporting our predictions. Finally, we assess the determinants of current aid allocations and find that the degree of concessionality is negatively correlated with countries' levels of development.
Book Synopsis Debt and the developing countries by : Norman Gemmell
Download or read book Debt and the developing countries written by Norman Gemmell and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Theoretical and Policy-Oriented Aspects of the External Debt Economics by : Chris Czerkawski
Download or read book Theoretical and Policy-Oriented Aspects of the External Debt Economics written by Chris Czerkawski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past approach to the international debt crisis has been traditionally based on conventional banking principle in which debt had to be paid back in fuH and in time. International lending was a function of the perceived credit standing of debtor country and the return on investment (ROI). If debtor country run into difficulties and had problems with service payments - it was generally assumed that the debt-related expenditures were mismanaged. With economic stability and firm financial rules - the debt crisis was supposed to disappear after application of appropriate adjustment measures. However in the world of inconsistent lending criteria greater uncertainty and increased volatility of expectations - the problem has continued to get worse. At the beginning of the 1990s a number of countries are more indebted than at any other time in the past. Until mid 1980s extern al debt economics has been rather a disembodied concept for most economists and business leaders. The main reason for this neglect of one of the most important macroeconomic categories was difficulty of distinguishing terminologically and methodologically the domestic determinants of national expenditures from the external ones. Then there were conceptual problems in distinguishing the functional determinants of macroeconomic liquidity from external and domestic determinants of macro-economic solvency. Moreover many studies of the debt crisis were one-sided. Usually debt was seen as a 'white-black' phenomenon with debtor countries accusing creditor countries for causing the crisis and vice versa.
Book Synopsis Foreign Borrowing and Export Promotion Policies by : International Monetary Fund
Download or read book Foreign Borrowing and Export Promotion Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-01-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the problem of allocation of investment for a debtor country that faces a ceiling on the amount of foreign debt it can accumulate. It shows that it is optimal for the debtor country to create a more open economy by favoring investment in the export sector over investment in the import-competing sector. The reason is that a more open economy is more sensitive to trade sanctions and therefore more creditworthy in international markets. Because international creditworthiness is basically an externality, there is a role for policy to provide higher returns to export producing activities.
Book Synopsis Theoretical Issues in International Borrowing by : Jeffrey Sachs
Download or read book Theoretical Issues in International Borrowing written by Jeffrey Sachs and published by . This book was released on 1983 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current crisis in international lending points up a lesson re-learned several times in the past 150 years: the international loan markets function very differently from the textbook model of competitive lending. This paper discusses various extensions of the basic model. First, we amend the textbook model to show how limitations on a government'staxing authority may greatly affect its optimal borrowing strategy. Second, we explore the implications of adebtor country's option to repudiate debt. Third, we show that efficient lending may require collective actions by bank syndicates, and that a breakdown in collective action can result in serious inefficiencies and even financial panics.
Book Synopsis Grants Versus Loans by : Tito Cordella
Download or read book Grants Versus Loans written by Tito Cordella and published by . This book was released on 2006 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under what conditions should grants be preferred to loans? To answer this question, we present a simple model agrave; la Krugman (1988) and show that, for any given level of developmental assistance, the optimal degree of loan concessionality is positively associated with economic growth if countries are poor, have bad policies, and high debt obligations. We then test our model by estimating a modified growth model for a panel of developing countries, and find evidence supporting our predictions. Finally, we assess the determinants of current aid allocations and find that the degree of concessionality is negatively correlated with countries` levels of development.
Book Synopsis Optimal Lending Policies for the Inter-American Development Bank by : Axel Peuker
Download or read book Optimal Lending Policies for the Inter-American Development Bank written by Axel Peuker and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Policy in a Demographically Divided World by : Hendrik P. van Dalen
Download or read book Economic Policy in a Demographically Divided World written by Hendrik P. van Dalen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Policy in a Demographically Divided World contains the economic analysis of the consequences of demographic change and the diverging population developments in an interdependent world economy in particular. The global divergence in demographic developments gives rise to a myriadof economic and ethical problems. This topic is treated with the help of themathematical apparatus of neoclassical optimal growth models. The author tries to disentangle the basic policy issues of a demographically divided world, such as a selective immigration policy, sustainable patterns of international lending and borrowing, development aid, and dynamic optimal taxation. The most important feature of the book is that it brings together information and theories of fairly recent date to analyse a practical policy problem, viz. issues related to a world economy that is characterised by a demographic division. This stylised fact is hardly given some attention in current economic theory and the book contains with respect to this stylised fact some new results. Customers might benefit from the book by gaining intuition concerning principles of economic policy in a world characterised by demographic change.
Book Synopsis Constrained Optimal Foreign Borrowing by Less Developed Countries by : Homi Kharas
Download or read book Constrained Optimal Foreign Borrowing by Less Developed Countries written by Homi Kharas and published by . This book was released on 1981 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Expanding Access to Finance written by and published by World Bank Publications. This book was released on 2007-01-01 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book's prime audience is government policy-makers. It provides a policy framework for governments to increase micro, small and medium enterprises' access to financial services?one which is based on empirical evidence from around the world. Financial sector policies in many developing countries often work against the ability of commercial financial institutions to serve this market segment, albeit, often unintentionally. The framework guides governments on how to best focus scarce resources on three things: ? developing an inclusive financial sector policy; ? building healthy financial ins
Book Synopsis International Capital Movements and Capital Accumulation in Less Developed Countries by : Eric V. Clifton
Download or read book International Capital Movements and Capital Accumulation in Less Developed Countries written by Eric V. Clifton and published by . This book was released on 1980 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics Of International Debt Renegotiation by : Boon-Chye Lee
Download or read book The Economics Of International Debt Renegotiation written by Boon-Chye Lee and published by Routledge. This book was released on 2019-09-06 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author considers the risks that the failure of Third World economies pose for highly exposed banks, whose collapse would threaten domestic as well as international financial systems.
