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An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa »

Source: An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

Volume/Issue: 1997/68

Series: IMF Working Papers

Author(s): Simeon Ajayi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1997

ISBN: 9781451961119

Keywords: external debt, debt, debt overhang, debt service, debt burden

The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estima...

Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy

Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy »

Source: Analyzing Balance Sheet Vulnerabilities in a Dollarized Economy : The Case of Georgia

Volume/Issue: 2006/173

Series: IMF Working Papers

Author(s): Andreas Billmeier , and Johan Mathisen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

ISBN: 9781451864335

Keywords: Balance-sheet analysis, BSA, vulnerabilities, currency mismatch, foreign currency, commercial banks, external debt, currency mismatches, central bank, Methodology for Collecting

Balance-sheet analysis (BSA) complements traditional flow-oriented macroeconomic analysis by gauging mismatches in aggregate and sectoral balance sheets of an economy. Enabled by recent progress in data availabilit...

Assessing Fiscal Stress

Assessing Fiscal Stress »

Source: Assessing Fiscal Stress

Volume/Issue: 2011/100

Series: IMF Working Papers

Author(s): Gabriela Dobrescu , Iva Petrova , Nazim Belhocine , and Emanuele Baldacci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455254316

Keywords: fiscal stress, fiscal vulnerability, public debt crises, sovereign default, public debt, fiscal indicators, fiscal crisis, fiscal variables, National Deficit Surplus, Studies of Particular Policy Episodes

This paper develops a new index which provides early warning signals of fiscal sustainability problems for advanced and emerging economies. Unlike previous studies, the index assesses the determinants of fiscal str...

Can Public Discussion Enhance Program Ownership?

Can Public Discussion Enhance Program Ownership? »

Source: Can Public Discussion Enhance Program Ownership?

Volume/Issue: 2004/163

Series: IMF Working Papers

Author(s): Peter Isard , and Allan Drazen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451857962

Keywords: Ownership, deliberative democracy, cheap talk, interest groups, voting, political science, democratic values, Models of Political Processes: Rent-seeking, Elections, Legislatures

We use the concepts of deliberative democracy from political science and cheap talk from economics to develop a better understanding of how public discussion can contribute to building and demonstrating ownership o...

The Choice Between External and Domestic Debt in Financing Budget Deficits

The Choice Between External and Domestic Debt in Financing Budget Deficits »

Source: The Choice Between External and Domestic Debt in Financing Budget Deficits : The Case of Central and West African Countries

Volume/Issue: 2002/79

Series: IMF Working Papers

Author(s): Philippe Beaugrand , Montfort Mlachila , and Boileau Loko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

ISBN: 9781451850215

Keywords: budget deficit financing, public debt, debt management, central bank, National Budget, Deficit, And Debt, macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook,

The paper reviews the principles and practical considerations involved in the choice between foreign and domestic financing of fiscal deficits, and derives a series of recommendations broadly applicable to Central...

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior »

Source: A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

Volume/Issue: 2014/176

Series: IMF Working Papers

Author(s): Calixte Ahokpossi , Laurence Allain , and Giovanna Bua

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781498349727

Keywords: Concessionality, debt limits policy, propensity score matching, external debt, public debt, private creditors, debt relief, concessional debt, International Monetary Arrangements and Institutions, International Lending and Debt Problems

This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The pape...

The Cost of Aggressive Sovereign Debt Policies

The Cost of Aggressive Sovereign Debt Policies »

Source: The Cost of Aggressive Sovereign Debt Policies : How Much is theprivate Sector Affected?

Volume/Issue: 2009/29

Series: IMF Working Papers

Author(s): Christoph Trebesch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2009

ISBN: 9781451871760

Keywords: Sovereign Default, Reputation Spillovers, debt policies, debt crisis, external borrowing,

This paper proposes a new empirical measure of cooperative versus conflictual crisis resolution following sovereign default and debt distress. The index of government coerciveness is presented as a proxy for excusa...

The Cost of Private Debt Over the Credit Cycle

The Cost of Private Debt Over the Credit Cycle »

Source: The Cost of Private Debt Over the Credit Cycle

Volume/Issue: 2010/283

Series: IMF Working Papers

Author(s): Eugen Tereanu , Johanna Francis , and Dilek Aykut

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

ISBN: 9781455210909

Keywords: debt flows, credit spreads, syndicated lending, credit cycles, bond, private debt, bonds, private debt flows, bond issuance, Global Outlook

We identify global and regional fluctuations in international private debt flows to emerging and developing countries using data on cross border loans and international bond issuance over 1993 -2009. We estimate th...

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries »

Source: The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

Volume/Issue: 2004/202

Series: IMF Working Papers

Author(s): Gabriela Inchauste , Bernardin Akitoby , Benedict Clements , and Sanjeev Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451874433

Keywords: Wagner&;amp;#x2019;s law, government spending, public spending, public finance, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

We examine the short- and long-term movements of government spending relative to output in 51 countries. We find that in the short term, the main components of government spending increase with output in about half...

The Cyclicality of Fiscal Policy in the Middle East and Central Asia

The Cyclicality of Fiscal Policy in the Middle East and Central Asia »

Source: The Cyclicality of Fiscal Policy in the Middle East and Central Asia : Is the Current Crisis Different?

Volume/Issue: 2010/68

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

ISBN: 9781451982121

Keywords: government spending, public debt, fiscal policy response, General Outlook and Conditions, Fiscal Policies and Behavior of Economic Agents: General, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

The countries of the Middle East and North Africa, and the Caucasus and Central Asia have the highest output volatility in the world. Fiscal policy is a powerful tool that can help dampen the business cycles. This...