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This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous...
Persistent link: https://www.econbiz.de/10011606273
The financial crisis and recession have left a legacy of unusually large fiscal deficits and growing sovereign debt levels in most advanced economies. The paper uses recent research from the IMF to throw light on two questions: how much fiscal space is available to advanced countries before they...
Persistent link: https://www.econbiz.de/10011430862
During the pandemic, African banks rebalanced their portfolio towards sovereign assets, and crowding out of credit to private sector intensified. Policy support, however, averted a credit crunch. The increase in public debt across Africa due to the COVID-19 crisis intensified crowding out of...
Persistent link: https://www.econbiz.de/10014506409
This volume includes five self-contained chapters in the fields of public debt and fiscal transfer schemes. After an introduction to the topic, chapter 2 shows that the institutional setting of fiscal policy making needs to be considered when assessing the sustainability of fiscal policy. Using...
Persistent link: https://www.econbiz.de/10011698353
. Dieses Engagement dehnen die Glaubensgemeinschaften in wachsendem Maße auf den Bereich der Politik aus. In Brasilien kommt …
Persistent link: https://www.econbiz.de/10013178841
Estimating farmers' supply responses to changes in framework conditions is important to in-form decision-makers on the expected impacts on production volume as well as the resulting land-use shifts. Existing agricultural supply response models generally require either larger databases with...
Persistent link: https://www.econbiz.de/10014313938
This paper aims at analysing the determinants of the recent wave of European banks to Brazil under the context of the … European banks in Brazil, as well as the expansion strategy of the four major European banks in Latin America - BSCH, BBVA …, HSBC and ABN-Amro. In this regard, it shows that the recent wave of European banks entering Latin America and Brazil is …
Persistent link: https://www.econbiz.de/10011689902
Europe's banking system has been in a state of systemic fragility since 2007-08. The current phase is marked by a sequence of interactions between sovereign problems and banking problems, resulting in gradual contagion to more countriesand more asset classes. The banking and sovereign crises are...
Persistent link: https://www.econbiz.de/10010293557
The European Union growth agenda has become even more pressing because growth is needed to support public and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern European countries and prove that Europe is still a worthwhile place to...
Persistent link: https://www.econbiz.de/10010293558
The crisis has underlined the strong interdependence between the euro-area banking and sovereign crises. To understand the role domestic banks have played in holding sovereign debt, a breakdown of government debt by holding sectors is required. The data shows that at the start of the crisis,...
Persistent link: https://www.econbiz.de/10010293573