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In response to the worst economic crisis since the 1930s, government budgets and central banks have provided substantial support for aggregate demand and for the financial sector. In the process, fiscal balances have deteriorated, government liabilities and central bank balance sheets have been...
Persistent link: https://www.econbiz.de/10014400999
We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio … can be modified to create a more accurate representation of debt sustainability for a country that receives significant … remittance inflows. The main result is that inclusion of remittances into the traditional debt sustainability analysis alters the …
Persistent link: https://www.econbiz.de/10014402461
gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wealth, we focus on the non …
Persistent link: https://www.econbiz.de/10014402467
Traditional fiscal indicators focused on measures of current deficits and debt miss the potentially important implications of current policies for future public finances. This could be problematic, including in the case of Europe, where population aging is expected to pose additional fiscal...
Persistent link: https://www.econbiz.de/10014402857
other hand, with a delayed withdrawal investor concerns about sustainability may increase, leading to higher interest rates …
Persistent link: https://www.econbiz.de/10014402902
Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a … challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC … sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of …
Persistent link: https://www.econbiz.de/10014403074
Unlike conventional fiscal sustainability assessments, the Value-at-Risk approach developed in this paper explicitly …
Persistent link: https://www.econbiz.de/10014403838
This study examines the growth determinants and the economic policy challenges that Armenia faces to sustain the rapid growth of the past two years. The paper also seeks to answer the following two questions: Why has Armenia performed relatively better than other transition economies? What are...
Persistent link: https://www.econbiz.de/10014403946
The paper examines fiscal sustainability issues for the case of Eritrea but has wider implications for addressing … fiscal and debt sustainability. It begins with a formal definition and explanation of analytical sustainability indicators … sustainability. The paper then goes beyond the usual analytical indicators by attempting to identify how and through which channels …
Persistent link: https://www.econbiz.de/10014404132
This paper assesses the sustainability of China''s export-oriented growth over the medium to longer term. It shows that …
Persistent link: https://www.econbiz.de/10014404301