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Despite the growing public debate on fiscal surprise during election periods in jurisdictions where the democratic dispensation is young, comprehensive empirical works to this effect in the case of Africa are hard to find. This study, therefore, sought to contribute to the debate on two counts....
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This paper examines the dynamic causal relationship between financial development, external debt and investment in … investment in Lesotho, Namibia and Eswatini from 1980-2020 is country-dependent. For Eswatini, both investment and financial … Lesotho, where external debt is also found to Granger cause investment, also both in the short run and the long run. The study …
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In Mexico, the states receive funding in three different ways: local tax revenue, federal revenue sharing (Branch 28) and federal contributions (Branch 33). The local tax revenue represents a small percentage of the total state revenue, which averages 7.2% of the total revenue. Tamaulipas'...
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Julieta Rossi describes how the Néstor Kirchner administration (Argentina) negotiated one of the most important debt swaps in the history of international finance. However, a court judgment in the United States of America, which held that the vulture funds could expect full repayment,...
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This paper focuses on principles and various aspects of debt reduction and economic activity. The paper analyzes the effect of debt and debt-service reduction on the contractual and market values of a country's debt and also describes the IMF staff's preliminary attempts to describe and quantify...
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