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The Impact of Government Borrowing on Corporate Acquisitions : International Evidence

Alimov, Azizjon - 2022

This paper examines how variation in the supply of government debt affects corporate acquisition activity. Using data from 50 countries from 1991 to 2017, the paper finds that government debt issuance is strongly negatively associated with acquisition activity at the firm and aggregate levels....

Persistent link: https://www.econbiz.de/10013308162

Debt sustainability and economic convergence of euro-area Member States : challenges and solutions

Manasse, Paolo - 2015

This paper argues that fiscal convergence in the Euro area has been achieved at the expenses of real divergence in unemployment, investment and at, at least temporarily, growth. Statistical and econometric analysis support the view that the current fiscal framework has addressed debt...

Persistent link: https://www.econbiz.de/10011714062

Debt Sustainability and Economic Convergence of Euro-Area Member States : Challenges and Solutions

Manasse, Paolo - 2015

Persistent link: https://www.econbiz.de/10013013247

Fiscal convergence in the West African Monetary Zone

Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Kargbo, … - 2021

Achieving fiscal convergence between countries of a monetary union helps in the design and implementation of policies to strengthen macroeconomic convergence, which mitigates the contagion effects of macroeconomic instability and ensures the long-term viability of the proposed union. This paper...

Persistent link: https://www.econbiz.de/10013342773

The Seven Mechanisms for Achieving Sovereign Debt Sustainability

Hileman, Garrick - 2016

This paper surveys the sovereign debt literature and summarizes the political economy trade-offs of seven distinct mechanisms for achieving debt sustainability. Two mechanisms – financial aid and asset exchange – are often underemphasized or entirely overlooked even though they can play an...

Persistent link: https://www.econbiz.de/10012996772

Overlooked Sovereign Credit Events and Non-Pecuniary Defaults : British Debt Sustainability in the Post-Second World War Period

Hileman, Garrick - 2017

This paper examines UK sovereign debt sustainability following the Second World War. Even though the UK in 1946 … default following the Second World War. New archival evidence shows that Britain in fact defaulted multiple times following … the Second World War by failing to fulfil several non-pecuniary terms of the Anglo-American Financial Agreement. Several …

Persistent link: https://www.econbiz.de/10012968878

Fiscal rules and optimal currency composition of sovereign debt in emerging economies

Valencia, Oscar M.; Rodriguez, Luis Alberto; Siachoque, … - 2023

Total public debt in most emerging markets grew before and after the pandemic with a sizable share in foreign currency. Along this trend, interest payments increased even in the presence of active fiscal rules in some countries. How should debt management of public debt be set under a fiscal...

Persistent link: https://www.econbiz.de/10014471269

Fiscal Variables and Growth Convergence in the ECOWAS

Magazzino, Cosimo - 2016

Purpose – The purpose of this paper is to assess the relationship among fiscal variables (net lending, government expenditure and revenue) and economic growth in Sub-Saharan African countries.Design/methodology/approach – Using yearly data for the period between 1980 and 2011 in15 Economic...

Persistent link: https://www.econbiz.de/10012991915

Local Government Debt and Growth Convergence

Pang, Haokun - 2021

The link between public debt and growth has long been discussed. This paper evaluates the effect on growth convergence from local government debt using a panel data of 276 Chinese cities. Our results show that Chinese local government debt hike since 2008 had a robust positive effect on growth...

Persistent link: https://www.econbiz.de/10013221069

Sovereign Theft : Theory and Evidence about Sovereign Default and Expropriation

Tomz, Michael - 2009

This paper examines two major risks to foreign investors: default on sovereign debt and expropriation of foreign direct investment, which we refer to collectively as "sovereign theft." Using a series of formal models, we analyze how the incentives to engage in sovereign theft vary with the state...

Persistent link: https://www.econbiz.de/10013160487

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