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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
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
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
Ecuador, from 2003 to 2010 and the measures taken for sectorial policy reform in the hydrocarbon sector and our conclusions … the hydrocarbon sector in Bolivia from 2002 to 2010. Section III analyses Ecuador's new Constitution of 2008 and the … renegotiation of the hydrocarbon contracts. Finally, we present three Annexes: Annex 1 describes the arbitration cases of Ecuador …
Persistent link: https://www.econbiz.de/10012490845
Tax havens are among the biggest challenges faced by developing countries in achieving their national development goals. States, international organisations, multilateral agencies and non-governmental organisations have all made several efforts at compiling ‘lists’ of tax havens at the...
Persistent link: https://www.econbiz.de/10012490869
associate states of the bloc are Chile, Peru, Colombia, Ecuador, Guyana and Suriname. Bolivia is currently awaiting final …
Persistent link: https://www.econbiz.de/10014485933
This paper reviews recent developments in the management of government debt in the euro area, covering both theoretical and practical aspects. It focuses on key aspects of debt management; the objectives of debt management, its organisation, the maturity of debt, inflation-indexation,...
Persistent link: https://www.econbiz.de/10011606177
This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...
Persistent link: https://www.econbiz.de/10011606284
Das Update 2016 des EU-Nachhaltigkeitsrankings der Stiftung Marktwirtschaft und des Forschungszentrums Generationenverträge der Universität Freiburg analysiert die Gesamtverschuldung der EU-Mitgliedsländer, deren Entwicklung im Vergleich zum Vorjahr und die langfristige Entwicklung der...
Persistent link: https://www.econbiz.de/10011630712