Sudan faces an exceedingly high debt burden for an economy of its size. Standing at 80% of Gross Domestic Product (GDP), Sudan's external debt was US$43.6 billion in 2014, of which 87% was arrears. As part of the secession agreement, Sudan would take over all of the pre-secession debt provided...

Sudan faces an exceedingly high debt burden for an economy of its size. Standing at 80% of Gross Domestic Product (GDP), Sudan's external debt was US$43.6 billion in 2014, of which 87% was arrears. As part of the secession agreement, Sudan would take over all of the pre-secession debt provided...

Q1 2018 saw relatively high growth rates in regions' revenues and expenditures. Regions with lowest revenues posted relatively slow growth rates in revenues for two straight years, thereby mounting their debt burden and reflecting further differentiation in the development of Russia's territories

This paper investigates the inter-temporal loss usage of tax units in Germany. Tax units that experience a loss in a year can offset that loss with positive income from adjacent year to receive a tax refund. Similar to companies, tax units can employ losses as carry-back in the year before the...

This paper presents an empirical analysis of the relationship between fiscal illusion and the shadow economy for 104 countries over the period 1989-2009. We argue that both unobservable phenomena are closely linked to each other, as the creation of a fiscal illusion may be helpful if governments...