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External Debt Sustainability: Theory and Empirical Evidence
Arnone, Marco; Bandiera, Luca; Presbitero, Andrea - EconWPA - 2005
This paper is a review of the different approaches on external debt sustainability. The Heavily Indebted Poor Country (HIPC) Initiative was launched to assure a permanent exit from debt dependence. However, the IMF-World Bank program is not without faults, in particular for what concerns debt...
Persistent link: https://www.econbiz.de/10005556649
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Spillovers across High Yield Markets
Moschitz, Julius - EconWPA - 2004
This paper studies the time-variant interactions among US stocks, emerging market bonds and US low-grade corporate … bonds. All of these assets are characterized by a similar average return, but returns are far from being perfectly …
Persistent link: https://www.econbiz.de/10005413232
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How Important Are Foreign Banks in European Transition Countries? A Comparative Analysis
Bol, Hanneke; Haan, Jakob de; Scholtens, Bert; Haas, … - EconWPA - 2002
This paper analyses the development of the banking sector in twelve transition countries. Foreign banks have become major players in the financial system of these countries. Still, foreign bank presence and financial development in general vary considerably between these economies. Distance from...
Persistent link: https://www.econbiz.de/10005556660
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How Did Malawi Accumulate External Debt
Stambuli, P. Kalonga - EconWPA - 2003
Further to investigation of how Malawi accumulated external debts amounting to $2.7 billion, without a corresponding growth in the economy, exports capability or poverty reduction this paper much of the borrowing contracted during 1973-82 was consumed by balance of payments deficits caused by...
Persistent link: https://www.econbiz.de/10005062708
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A non-linear Macroeconometric Impact Model of External Debt Cancellation in Severely Indebted Low Income Country (SILIC) Economies
thesis, P. Kalonga Stambuli PhD - EconWPA - 2003
On the basis of models I developed to simulate mathematical relationships between external debt and fiscal and balance of payments variables my thesis evaluates whether debt cancellation will overcome the debt overhang and crowding out effects of external debt and allow Severely Indebted Low...
Persistent link: https://www.econbiz.de/10005408182
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Capital Flows and Domestic Financial Sector in India
Kohli, Renu - EconWPA - 2004
This paper examines the impact of capital flows on the domestic financial sector in India. Inflow of foreign capital, it is found, has a significant impact on domestic money supply and stock market growth, liquidity and volatility. The banking sector, however, remains relatively insulated due to...
Persistent link: https://www.econbiz.de/10005119480
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Refuting the Trade Deficit Rationale
Mills, W. Raymond - EconWPA - 2004
Commission. 'The savings shortfall argument falsely presumes that causation goes from savings to the trade deficit'. The savings … shortfall argument is support by nothing more than reasoning by analogy from the pre-trade closed economy. The equation Savings … irrelevant the low level of savings as reported by the National Income and Product Accounts. …
Persistent link: https://www.econbiz.de/10005062657
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STOCK MARKET VALUATION IN THE UNITED STATES
BISCIARI, Patrick; DURRE, Alain; NYSSENS, Alain - EconWPA - 2003
This paper gives an overview of some issues related to market aluation, focusing on the developments on the New York equity markets. The 42.4 p.c. fall in the S&P 500 price index between 24 March 2000 - when it reached its all-time high - and 31 December 2002 is situated in a very long term...
Persistent link: https://www.econbiz.de/10005125064
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SAVINGS MOBILIZATION ROLE OF NIGERIAN COMMERCIAL BANKS:AN ANALYTICAL POLICY STUDY
NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2003
MOBILIZING DOMESTIC SAVINGS FOR DEVELOPMENT AND THE CONSTRAINTS IN THE EFFICIENT PERFORMANCE OF THIS ROLE. EMPIRICAL EVIDENCE …
Persistent link: https://www.econbiz.de/10005076971
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Demand for Money in India: 1953-2003
Rao, B Bhaskara; Rup, Singh - EconWPA - 2005
The demand for money, especially in the developing countries, is an important relationship for formulating appropriate monetary policy and targeting monetary variables. In this paper we estimate the demand for narrow money in India and evaluate its robustness. It is found that there is a stable...
Persistent link: https://www.econbiz.de/10005412833