identify structural breaks over the sample period used to estimate the covariance matrix of the shocks to the debt ratios … focusing attention on debt-stabilizing balances. "--World Bank web site …

"Despite the popularity of the term among advocates of debt forgiveness, there is little agreement on a workable … issues of concern underlying the concept of odious or illegitimate debt. The authors make the case for focusing attention on …

state and local debt and not to allow ownership of the banks by any level of government. Transparency of the budgetary …

"Over the past 25 years, significant levels of public debt and external finance are more likely to have enhanced … that, while the chances of another generalized debt crisis have receded since the turbulence of the late 1990s, sovereign … debt is indeed constraining growth in MACs, especially those with debt sustainability problems. Several prominent MACs have …

"Greece and Italy initiated efforts to improve public debt management and develop their domestic debt markets … respectively in the late 1970s and mid-1980s. At that time, both countries suffered from large and rapidly growing public debt … two countries, their pace of issuance, and their impact on the composition of public debt. The authors note that the main …

This is the second volume of a study on the insights from a 12-country pilot program on public debt management and … domestic government debt market development. The discussion of domestic government debt market development in this book uses a … importance of sound debt market regulation. Finally, chapter 8 highlights the complexity of reform programs, the interaction …