Temat: debt, - Prolib Integro

Skocz do pozycji: 1.

Tytuł:: Controversies Over Non-Conventional Instruments of Financing Budget Needs Of Local Government Units
Autorzy:: Poniatowicz, Marzanna
Wyszkowska, Dorota
Piekarska, Ewelina
Tematy:: subnational debt
debt limit
unconventional debt financing instruments; Pokaż więcej
Wydawca:: Uniwersytet w Białymstoku. Wydawnictwo Uniwersytetu w Białymstoku
Powiązania:: https://bibliotekanauki.pl/articles/429515.pdf Link otwiera się w nowym oknie
Opis:: Local government units resort to external repayable sources of financing their own activity, mainly those connected with investments, when the financial sources they have at their disposal are insufficient. However, owing to an unfavorable financial situation, some of them lose their creditworthiness because their debts exceed the legal limit. In such a situation, they decide to use the so-called unconventional instruments, which, although they provide certain long-term benefits, in a longer time perspective lead to negative consequences, connected mainly with diminished financial liquidity and the necessity to bear inflated costs of debt service. The aim of the paper is to present the reasons for using unconventional instruments of financing budget needs by decision-makers, as well as their specific character and economic effects, particularly as regards the financial stability and security of LGUs, the transparency of local finances and the related hazards. The achievement of this aim required analysis of the literature devoted to the subject, reports of controlling institutions and statistical data regarding the debt level of LGUs.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Inflation and Public Debt Reversals in the G7 Countries
Autorzy:: Akitoby, Bernardin
Binder, Ariel
Komatsuzaki, Takuji
Tematy:: Inflation
debt crisis
G7
public debt
sovereign debt; Pokaż więcej
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Powiązania:: https://bibliotekanauki.pl/articles/565670.pdf Link otwiera się w nowym oknie
Opis:: This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by about 5 percentage points during that period. In contrast, raising inflation to 6 percent for the next five years would reduce the average net debtto-GDP ratio by about 11 percentage points under the full Fisher effect and about 14- percentage points under the partial Fisher effect. Thus higher inflation could help reduce the public debt-to-GDP ratio somewhat in advanced economies. However, it could hardly solve the debt problem on its own and would raise significant challenges and risks. First of all, it may be difficult to create higher inflation, as evidenced by Japan’s experience in the last few decades. In addition, an unanchoring of inflation expectations could increase long-term real interest rates, distort resource allocation, reduce economic growth, and hurt the lower–income households.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: External Factors in Debt Sustainability Analysis: An Application to Latin America?
Autorzy:: Adler, Gustavo
Sosa, Sebastian
Tematy:: public debt
external debt
debt sustainability
Latin America; Pokaż więcej
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Powiązania:: https://bibliotekanauki.pl/articles/565723.pdf Link otwiera się w nowym oknie
Opis:: This paper develops a framework for debt sustainability analysis that integrates econometric estimates of the effect of global factors on a set of key domestic variables that determines public and external debt dynamics. The methodology is applied to assess debt sustainability in Latin America—a region highly sensitive to external conditions. Results suggest that, while some countries in the region are well placed to withstand moderate or even large foreign shocks, many would benefit from strengthening their fiscal positions to be able to deploy countercyclical policies under adverse scenarios, especially tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Debt of communes in the light of a new individual debt ratio
Zadłużenie gmin w świetle nowego indywidualnego wskaźnika zadłużenia
Autorzy:: Satola, L.
Tematy:: debt
commune
budget
self-government debt
public finance
individual debt ratio; Pokaż więcej
Wydawca:: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie. Wydawnictwo Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie
Powiązania:: https://bibliotekanauki.pl/articles/37883.pdf Link otwiera się w nowym oknie
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 5.

Tytuł:: Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?
Autorzy:: Asonuma, Tamon
Papaioannou, Michael G.
Togo, Eriko
van Selm, Bert
Tematy:: Sovereign Debt
Sovereign Defaults
Sovereign Debt Restructurings
Serial Debt
Restructurings
Belize; Pokaż więcej
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Powiązania:: https://bibliotekanauki.pl/articles/2047046.pdf Link otwiera się w nowym oknie
Opis:: This paper examines the causes, process, and outcome of Belize’s 2016–17 sovereign debt restructuring – its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with creditors outside an IMF-supported program. While providing liquidity relief and partially addressing long-term debt sustainability concerns, the restructuring will need to be underpinned by ambitious fiscal consolidation and growth-enhancing structural reforms to secure durable gains and avoid future debt distress situations.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 6.

Tytuł:: The impact of environmental, social and corporate governance responsibility on the cost of short- and long-term debt
Autorzy:: Ratajczak, Piotr
Mikołajewicz, Grzegorz
Tematy:: CSR
ESG
sustainability
cost of debt
short-term debt
long-term debt; Pokaż więcej
Wydawca:: Uniwersytet Ekonomiczny w Poznaniu
Powiązania:: https://bibliotekanauki.pl/articles/1837750.pdf Link otwiera się w nowym oknie
Opis:: The aim of the paper is to examine the impact of environmental, social and corporate governance (ESG) responsibility on the short- and long-term cost of debt. Linear regression was applied to a unique dataset on CSR and cost of debt for 300 companies recognized in 2017 by Corporate Knights as the most sustainable companies in the world. The question about the link between CSR and cost of debt is important as there is still ongoing debate as to whether business should undertake activities in the field of CSR—managers and other stakeholders are still unsure of the outcomes. The findings show that the involvement in environmental issues decreases the cost of long-term debt whereas the involvement in social issues brings benefits to short- and long-term debt. Surprisingly the greater the involvement in corporate governance, the higher the cost of debt in all time horizons. Managers should expect a lower cost of debt from environmental and social activities mostly in the long run. Corporate governance expenditures may in turn be seen as a waste of company resources, cost of forgone opportunities, or—optionally—as an over-investment. The main novelty is the breakdown of CSR into three dimensions while examining various term structures of corporate debt.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 7.

Tytuł:: Debt as a financial risk factor in SMEs in the Czech Republic
Autorzy:: Kramoliš, Jan
Dobeš, Kamil
Tematy:: risk management
debt awareness
company debt
indebtedness
debt repayment
SMEs; Pokaż więcej
Wydawca:: Instytut Badań Gospodarczych
Powiązania:: https://bibliotekanauki.pl/articles/22444435.pdf Link otwiera się w nowym oknie
Opis:: Research Background: The approach is based on theoretical sources and completed studies on business debt, debt level and repayment awareness and how this issue relates to SMEs in the Czech Republic. Purpose of the article: The main purpose of this paper is to examine the attitude of SMEs towards the issue of company debt and its position within the economy. This attitude is an inherent part of the company´s risk management. Methods: Three researched issues (How strongly is company debt perceived as a financial risk factor; Does the company consider debt to be a serious matter in their business; What measures does the company take to reduce risk) supported by hypotheses, which verified the thesis, were statistically tested. Finding & Value added: Practical implications confirm the thesis that there is a belief that SMEs do not consider debt to be a critical factor of business risk and do not associate it directly with the major risk of business failure. SMEs do not view debt negatively and do not directly link debt to the risk of failure. Consequently, companies consider the risk of indebtedness as relatively insignificant. Their approach to indebtedness is therefore generally passive and they also believe that it will not jeopardize their business, and they will always somehow manage to solve it through insurance, risk avoidance and through creation of financial reserves.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 8.

Tytuł:: Dylematy wyboru samorządowych instrumentów dłużnych
Dilemmas of choosing local government debt instruments
Autorzy:: Filipiak, Beata Zofia
Dylewski, Marek
Tematy:: debt instruments
debt
financing
selection criteria; Pokaż więcej
Wydawca:: Kancelaria Sejmu. Biuro Analiz Sejmowych
Powiązania:: https://bibliotekanauki.pl/articles/2197344.pdf Link otwiera się w nowym oknie
Opis:: Debt instruments allow local government units to perform both current and investment tasks that are not covered in the budget. Thus, they enable the acceleration of the implementation of tasks aimed at ensuring the development of society. These entities usually choose credit as a debt instrument. In the article, the authors present a discussion on the criteria, but also the dilemmas of choosing local government debt instruments. The aim of the study is to indicate the criteria for selecting debt instruments by local government units in the light of budgetary and financial conditions. The authors also consider the barriers and limitations in the process of selecting a debt instrument.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 9.

Tytuł:: Legal consequences of the standards of local government debt in a case of the act on public finance
Autorzy:: Ćmiel, Sylwia
Wołowiec, Tomasz
Wydawca:: National University of Water Management and Nature Resources Use in Rivne (Ukraine)
Opis:: Sylwia Gwoździewicz
There are no rules for debt management and it’s can lead to uncontrolled growth of local budget debt. It is therefore necessary to consider the introduction of an instrument to monitor the indirect debt - debt generated by local legal entities and companies with the participation of local government units (hereinafter: JST). Analysis should be individual debt ratio after one year of its operation and draw practical conclusions. It should monitor local government debt indirectly and introduce reporting the debt on an annual basis with information on warranties, agreements or multi-annual support contracts for the provision of services that impact on budgetary expenditure. Some problems with debt management by local governments. arise not so much from bad financial policy JST, but some of the specific application of the law. Local governments are cumulative free cash while incurring debt.
Dostawca treści:: Repozytorium Centrum Otwartej Nauki

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Skocz do pozycji: 10.

Tytuł:: Refinansowanie długu lokalnego w Polsce
Refinancing local debt in Poland
Autorzy:: Budzeń, Daniel
Tematy:: refinancing risk of local debt
debt of local government units
public debt; Pokaż więcej
Wydawca:: Kancelaria Sejmu. Biuro Analiz Sejmowych
Powiązania:: https://bibliotekanauki.pl/articles/11542183.pdf Link otwiera się w nowym oknie
Opis:: The article explores the significance of local debt refinancing risk and ways to prevent its occurrence. For this purpose, the author introduces the concept of ratio of average debt maturity of a local government unit. The author presents the test results of the refinancing risk of the local debt in Poland in 2011–2015. Definition of local debt is also discussed, as well as a review of objectives and risks associated with the management of public debt.
Dostawca treści:: Biblioteka Nauki

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