Corporate And Household Debt Distress In Latvia

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Corporate and Household Debt Distress in Latvia

Mr.Magnus Saxegaard,Mrs.Michaela Erbenova,Ms.Yan Liu
Corporate and Household Debt Distress in Latvia Book PDF

Author : Mr.Magnus Saxegaard,Mrs.Michaela Erbenova,Ms.Yan Liu
Publisher : International Monetary Fund
Page : 27 pages
File Size : 54,8 Mb
Release : 2011-04-01
Category : Business & Economics
ISBN : 9781455226030

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Corporate and Household Debt Distress in Latvia by Mr.Magnus Saxegaard,Mrs.Michaela Erbenova,Ms.Yan Liu Pdf

This paper reviews Latvia’s efforts to manage the increase in debt distress resulting from the unwinding of the 2000-07 credit boom and spillovers from the global financial crisis. The authorities have designed a strategy that strengthens incentives for marked-based debt resolution by improving the legal framework for credit enforcement, introducing tax incentives for debt write-downs, and strengthening financial sector supervision. These measures have started to yield results, but further steps are needed to speed up bankruptcy procedures and reduce credit enforcement costs. Latvia’s experience with market-based debt resolution may provide insights on managing debt distress in other countries with limited fiscal resources.

Global Waves of Debt

M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Global Waves of Debt Book PDF

Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 40,9 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454

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Global Waves of Debt by M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara Pdf

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Principles of Household Debt Restructuring

Thomas Laryea,Mr.Luc Laeven
Principles of Household Debt Restructuring Book PDF

Author : Thomas Laryea,Mr.Luc Laeven
Publisher : International Monetary Fund
Page : 30 pages
File Size : 47,9 Mb
Release : 2009-06-26
Category : Business & Economics
ISBN : 9781462376773

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Principles of Household Debt Restructuring by Thomas Laryea,Mr.Luc Laeven Pdf

This paper examines the estimated compliance with the macroeconomic convergence targets for 2008, based on estimates contained in the IMF’s Regional Economic Outlook: Sub-Saharan Africa (the REO). SADC’s regional economic integration agenda includes a macroeconomic convergence program, intended to achieve and maintain macroeconomic stability in the region, thereby contributing to faster economic growth and laying the basis for eventual monetary union. Targets for key macroeconomic variables have been set out for 2008, 2012, and 2018. Most SADC member states have recorded solid macroeconomic performance in recent years, in general coming close to, and in many cases surpassing, the convergence targets specified for 2008. A notable exception in this regard is Zimbabwe, which was in the grip of hyperinflation. The macroeconomic targets for 2012 are ambitious and, in some cases, warrant further evaluation, given that achieving the targets may be neither necessary nor sufficient to achieve good macroeconomic results.

World Economic Outlook, April 2012

International Monetary Fund. Research Dept.
World Economic Outlook April 2012 Book PDF

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 299 pages
File Size : 46,7 Mb
Release : 2012-04-17
Category : Business & Economics
ISBN : 9781475507034

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World Economic Outlook, April 2012 by International Monetary Fund. Research Dept. Pdf

The April 2012 issue of the World Economic Outlook assesses the prospects for the global economy, which has gradually strengthened after a major setback during 2011. The threat of a sharp global slowdown eased with improved activity in the United States and better policies in the euro area. Weak recovery will likely resume in the major advanced economies, and activity will remain relatively solid in most emerging and developing economies. However, recent improvements are very fragile. Policymakers must calibrate policies to support growth in the near term and must implement fundamental changes to achieve healthy growth in the medium term. Chapter 3 examines how policies directed at real estate markets can accelerate the improvement of household balance sheets and thus support otherwise anemic consumption. Chapter 4 examines how swings in commodity prices affect commodity-exporting economies, many of which have experienced a decade of good growth. With commodity prices unlikely to continue growing at the recent elevated pace, however, these economies may have to adapt their fiscal and other policies to lower potential output growth in the future.

Consumer Debt and Social Exclusion in Europe

Hans-W. Micklitz,Irina Domurath
Consumer Debt and Social Exclusion in Europe Book PDF

Author : Hans-W. Micklitz,Irina Domurath
Publisher : Routledge
Page : 258 pages
File Size : 48,6 Mb
Release : 2016-03-09
Category : Law
ISBN : 9781317161264

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Consumer Debt and Social Exclusion in Europe by Hans-W. Micklitz,Irina Domurath Pdf

This book analyses the dichotomy between the goal of social inclusion and the effect of social exclusion through over-indebtedness since 2008 in Europe. Filling a vital gap in the current literature on the effects of the financial and economic crisis, this volume puts into context academic discussion with the real-life dimension of over-indebtedness. Reports from six European countries provide socio-economic and legal information on over-indebtedness as well as the regulatory and judicial responses to the problems entailed by over-indebtedness. They form the empirical background for five analyses of different aspects of the inclusion-exclusion dichotomy. It becomes clear that in the context of credit expansion, individual over-indebtedness has turned into a social issue, which the current design of the consumer credit and mortgage system in Europe has helped to produce while disregarding the consequential danger of social exclusion.

Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox

Ms. Yan Liu,Mr. Christoph B. Rosenberg
Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox Book PDF

Author : Ms. Yan Liu,Mr. Christoph B. Rosenberg
Publisher : International Monetary Fund
Page : 21 pages
File Size : 40,6 Mb
Release : 2013-02-20
Category : Business & Economics
ISBN : 9781475546231

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Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox by Ms. Yan Liu,Mr. Christoph B. Rosenberg Pdf

The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and—in some cases—institutional arrangements to deal with over-indebtedness. For households, where the problem in some countries is large but no established best practice exists, reforms have generally sought to allow debtors a fresh start while minimizing moral hazard and preserving bank solvency and credit discipline. For the corporate sector, efforts have focused on facilitating debt restruturing (including through out of court mechanisms). Direct government intervention has been rare.

Republic of Latvia

International Monetary Fund
Republic of Latvia Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 114 pages
File Size : 41,6 Mb
Release : 2009-09-30
Category : Business & Economics
ISBN : 9781451824629

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Republic of Latvia by International Monetary Fund Pdf

The Latvian authorities have strengthened their intervention capacity, financial supervision, and monitoring framework, and have taken steps to contain risks in Parex Bank. The staff report reviews the Republic of Latvia’s economic developments and policies. Substantial progress has been achieved in stabilizing the financial sector. The collapse in output has revealed significant underlying fiscal weaknesses that risk leading to unsustainable deficits in the absence of strong corrective measures. The deeper downturn is also in part explained by the much worse-than-projected international environment.

Republic of Slovenia

International Monetary Fund. European Dept.
Republic of Slovenia Book PDF

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 50 pages
File Size : 52,8 Mb
Release : 2015-02-19
Category : Business & Economics
ISBN : 9781484310601

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Republic of Slovenia by International Monetary Fund. European Dept. Pdf

This Selected Issues paper examines social spending reform and fiscal savings in Slovenia. Rising expenditure has been at the root of Slovenia’s fiscal deterioration since the onset of the crisis. The paper explores reform options to reduce Slovenia’s social spending over the medium and long term. It discusses key features of the pension system, and analyzes the evolution of pension spending in the absence of reforms. The paper also examines the health and education spending and provides a framework to assess their efficiency relative to other countries.

Personal Insolvency in the 21st Century

Iain Ramsay
Personal Insolvency in the 21st Century Book PDF

Author : Iain Ramsay
Publisher : Bloomsbury Publishing
Page : 258 pages
File Size : 51,5 Mb
Release : 2017-05-04
Category : Law
ISBN : 9781509900992

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Personal Insolvency in the 21st Century by Iain Ramsay Pdf

Since 1979 the world has witnessed a remarkable cycle of personal insolvency law reform. Changes in capitalist economies, financial crises and political interest groups all contributed to this cycle of reform. This book examines the role of interest groups and distinct narratives in shaping reform in different countries while drawing attention to the role of timing, path dependency and unintended consequences in the development of personal insolvency law. The book presents case studies of personal insolvency law in the US, France, Sweden, and England and Wales. It then analyses how, following the Great Recession of 2008, international financial institutions paid greater attention to the significance of household debt in contributing to financial instability and the role of individual insolvency law in providing a fresh start. Personal insolvency law reform became part of EU responses to the eurozone crisis and the EU has proposed harmonisation of individual insolvency law to promote entrepreneurialism. This book examines the extent to which these developments represent an emerging international commonsense about personal insolvency and its relationship to neo-liberalism. Finally, this book discusses whether the international emergence of individual personal insolvency law represents a progressive step or a band-aid for the costs of neo-liberal policies, where a significant number of people live close to the precipice of over-indebtedness.

Bankruptcy

Joseph Spooner
Bankruptcy Book PDF

Author : Joseph Spooner
Publisher : Cambridge University Press
Page : 309 pages
File Size : 44,9 Mb
Release : 2019-04-11
Category : Business & Economics
ISBN : 9781107166943

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Bankruptcy by Joseph Spooner Pdf

Excessive household debt has allowed for economic growth, but this model has become increasingly unstable. Spooner examines bankruptcy law as a potential solution.

Fiscal Impulse

Mr.Mark Scott Lutz,Mr.Garry J. Schinasi
Fiscal Impulse Book PDF

Author : Mr.Mark Scott Lutz,Mr.Garry J. Schinasi
Publisher : International Monetary Fund
Page : 13 pages
File Size : 43,6 Mb
Release : 1991-09-01
Category : Business & Economics
ISBN : 9781451851441

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Fiscal Impulse by Mr.Mark Scott Lutz,Mr.Garry J. Schinasi Pdf

The concept of fiscal impulse is defined, discussed, and differentiated from measures that attempt to summarize the macroeconomic effects of fiscal policy. Two methodologies are briefly discussed and their corresponding measures presented for the G-7 countries over the ten-year period ending in 1989. Controversies about the measure are highlighted and potential improvements are also discussed.

OECD Economic Surveys: Latvia 2015

OECD
OECD Economic Surveys Latvia 2015 Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 116 pages
File Size : 50,8 Mb
Release : 2015-02-25
Category : Electronic
ISBN : 9789264228467

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OECD Economic Surveys: Latvia 2015 by OECD Pdf

This OECD Economic Survey of Latvia examines recent economic developments, policies and prospects. Special chapters cover improving public sector efficiency and raising productivity.

Republic of Latvia

International Monetary Fund. European Dept.
Republic of Latvia Book PDF

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 54 pages
File Size : 45,9 Mb
Release : 2013-01-28
Category : Business & Economics
ISBN : 9781475521306

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Republic of Latvia by International Monetary Fund. European Dept. Pdf

This note presents estimates of potential growth and the output gap in Latvia. The estimates suggest that the output has marked below potential in the early 2000s but the output gap becomes positive and large after EU accession. With unemployment still well above its natural level, the output gap is estimated to be negative in 2012, but is expected to narrow gradually and be closed in the next 3–4 years. Potential growth is expected to be substantially lower than in 2002–07.

The EU Law of Economic and Monetary Union

Fabian Amtenbrink,Christoph Herrmann,René Repasi
The EU Law of Economic and Monetary Union Book PDF

Author : Fabian Amtenbrink,Christoph Herrmann,René Repasi
Publisher : Oxford University Press, USA
Page : 1649 pages
File Size : 50,7 Mb
Release : 2020
Category : Business & Economics
ISBN : 9780198793748

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The EU Law of Economic and Monetary Union by Fabian Amtenbrink,Christoph Herrmann,René Repasi Pdf

An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.

Financial Crises: Causes, Consequences, and Policy Responses

Stijn Claessens,Mr. M. Ayhan Kose,Mr. Luc Laeven,Fabian Valencia
Financial Crises Causes Consequences and Policy Responses Book PDF

Author : Stijn Claessens,Mr. M. Ayhan Kose,Mr. Luc Laeven,Fabian Valencia
Publisher : International Monetary Fund
Page : 669 pages
File Size : 53,5 Mb
Release : 2014-02-19
Category : Business & Economics
ISBN : 9781484355268

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Financial Crises: Causes, Consequences, and Policy Responses by Stijn Claessens,Mr. M. Ayhan Kose,Mr. Luc Laeven,Fabian Valencia Pdf

Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries are discussed. The medium-term effects of financial crises on economic growth, as well as policy measures to prevent booms, mitigate busts, and avoid crises are analyzed. Finally, policy measures for mitigating the adverse impact of crises and ways to restructure banks, households, and sovereigns are presented. The collection of research in this book provides an excellent overview of critical policy areas, with valuable lessons on how countries can better monitor their economies and financial systems.