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We develop a new measure of relative debt transparency by comparing the amount of state debt reported in the annual …
Persistent link: https://www.econbiz.de/10011764587
Improving debt transparency is critical for promoting debt sustainability and creditworthiness assessments, increasing … of debt transparency, the costs associated with the lack of it, and its benefits, are extensively discussed in recent … World Bank literature. One of the key factors that limits debt transparency as it relates to public disclosure and the …
Persistent link: https://www.econbiz.de/10013254825
Improving debt transparency is critical for promoting debt sustainability and creditworthiness assessments, increasing … of debt transparency, the costs associated with the lack of it, and its benefits, are extensively discussed in recent … World Bank literature. One of the key factors that limits debt transparency as it relates to public disclosure and the …
Persistent link: https://www.econbiz.de/10013413723
With public debt levels rising in Uganda, debt transparency is critical for providing accountability to the general …. Debt and debt management transparency improve accountability and, potentially, borrowing outcomes. Over the past decade … complexity of public debt portfolios. This makes debt and debt management transparency even more important. While new sources of …
Persistent link: https://www.econbiz.de/10012544707
In this paper, the author considers the sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the weight assigned to the lenders' interest by the borrowing government at the time of...
Persistent link: https://www.econbiz.de/10010512528
The Eurozone sovereign debt crisis began in the spring of 2010. Seven years on seems like an appropriate point at which to critique how the crisis has been handled and to assess whether policy changes will be required should it flare up again. In particular, there are a number of lessons to be...
Persistent link: https://www.econbiz.de/10012951713
Puerto Rico has incurred debt well beyond its ability to repay. It attempted to address its fiscal woes through legislation allowing the restructuring of some its debt. The Supreme Court put a stop to this effort, holding that Congress in the Bankruptcy Code barred the Commonwealth from enacting...
Persistent link: https://www.econbiz.de/10012960945
In recent years debt in Colorado has increased at an unsustainable rate. A debt brake is simulated for the Colorado economy. When the debt brake is triggered the spending cap imposed by the Tabor Amendment is reduced, with surplus revenue earmarked for debt reduction. The simulation analysis...
Persistent link: https://www.econbiz.de/10012858154
Lenders are perfectly free to decide for themselves whether, when, how, to whom and on what terms they will extend credit to a sovereign borrower. But all such loans will involve risks and those risks occasionally materialize. When they do, is a creditor obliged to cooperate with its fellow...
Persistent link: https://www.econbiz.de/10013323295
We study the determinants of local governments' reliance on bank loans using granular data from the Federal Reserve. Governments that are larger, riskier, rely on historically stable revenue sources, or have higher spending relative to revenues are more likely to borrow from banks. Declines in...
Persistent link: https://www.econbiz.de/10014631848