Download Full eBooks in PDF
Secondary Market Prices Under Alternative Debt Reduction Strategies Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Secondary Market Prices Under Alternative Debt Reduction Strategies book. This book definitely worth reading, it is an incredibly well-written.
Author : Stijn Claessens,Sweder van Wijnbergen
Publisher : Unknown
Page : 36 pages
File Size : 48,8 Mb
Release : 1990
Category : Debt equity conversion
ISBN : UVA:X001798061
Author : Stijn Claessens,Sweder van Wijnbergen
Publisher : World Bank Publications
Page : 25 pages
File Size : 45,7 Mb
Release : 1990
Category : Debt relief
ISBN : 8210379456XXX
This pricing model for secondary market debt is designed to assess the impact of debt reduction on the value of remaining claims and the market value of different types of guarantees.
Author : Sweder van Wijnbergen
Publisher : World Bank Publications
Page : 64 pages
File Size : 45,8 Mb
Release : 1990
Category : Debt relief
ISBN : 8210379456XXX
Who in the end profited most from the official resources devoted to Mexico's last debt restructuring : Mexico or its commercial creditors? Mexico. But in establishing the basis for long- term growth the package seems a reasonable compromise between the conflicting interests of Mexico and its commercial creditors.
Author : D. Cohen
Publisher : Springer
Page : 206 pages
File Size : 45,8 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781349260843
A comprehensive overview of current research in the field of trade, payments and debt. Grossman and Helpman provide a non-technical review of the literature on technological deteminants of trade. Thisse and Fujita discuss current work on the spatial configuration of economic activities. Robert Findlay tracks world trade from 1000 to 1750, while Robert Baldwin surveys the impact of international trading alliances. In his Presidential paper, the World Bank Vice-President Michael Bruno looks at the pattern of debt crises and economic recovery. The sustainability of external debt in Africa is examined by Daniel Cohen. Alberto Giovannini's argues the case for flexible exchange rates.
Author : Anonim
Publisher : World Bank Publications
Page : 74 pages
File Size : 50,6 Mb
Release : 1990
Category : Business & Economics
ISBN : 0821317326
Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 180 pages
File Size : 41,6 Mb
Release : 1990-01-01
Category : Business & Economics
ISBN : 9781451930788
The transition strategy from administratively set interest rates to market rates is discussed. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as reasonable any interest rate level that is market determined. The paper suggests some helpful indicators to assess the adequacy of interest rates and discusses factors that contribute to a smooth liberalization process. The main conclusion is that interest rate liberalization is not synonymous with laissez-faire policies, but requires the replacement of the administratively set interest rates by indirect monetary management techniques that operate through the market.
Author : Michael Patrick Dooley,Eduardo Fernandez-Arias,Kenneth Kletzer
Publisher : World Bank Publications
Page : 36 pages
File Size : 44,7 Mb
Release : 1994
Category : Capital movements
ISBN : 8210379456XXX
This empirical study finds that while debt reduction and policy reforms in debtor countries have been important determinants of renewed access to international capital markets, changes in international interest rates have been the dominant factor. We calculate the effects of changes in international interest rates for a 'typical' debtor country. We conclude that increases in interest rates associated with business cycle upturn in industrial countries could depress the secondary market prices of existing debt to levels inconsistent with continued capital inflows.
Author : Ngaire Woods
Publisher : Cornell University Press
Page : 272 pages
File Size : 52,5 Mb
Release : 2014-11-15
Category : Political Science
ISBN : 9780801456015
The IMF and the World Bank have integrated a large number of countries into the world economy by requiring governments to open up to global trade, investment, and capital. They have not done this out of pure economic zeal. Politics and their own rules and habits explain much of why they have presented globalization as a solution to challenges they have faced in the world economy.—from the Introduction The greatest success of the International Monetary Fund and the World Bank has been as globalizers. But at whose cost? Would borrowing countries be better off without the IMF and World Bank? This book takes readers inside these institutions and the governments they work with. Ngaire Woods brilliantly decodes what they do and why they do it, using original research, extensive interviews carried out across many countries and institutions, and scholarship from the fields of economics, law, and politics. The Globalizers focuses on both the political context of IMF and World Bank actions and their impact on the countries in which they intervene. After describing the important debates between U.S. planners and the Allies in the 1944 foundation at Bretton Woods, she analyzes understandings of their missions over the last quarter century. She traces the impact of the Bank and the Fund in the recent economic history of Mexico, of post-Soviet Russia, and in the independent states of Africa. Woods concludes by proposing a range of reforms that would make the World Bank and the IMF more effective, equitable, and just.
Author : Eugene Versluysen
Publisher : World Bank Publications
Page : 47 pages
File Size : 43,8 Mb
Release : 1989
Category : Debt relief
ISBN : 8210379456XXX
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 26 pages
File Size : 53,9 Mb
Release : 1990-01-01
Category : Business & Economics
ISBN : 9781451922721
This paper develops a technique to value guarantees on interest payments on developing-country debt, and provides some preliminary estimates of the cost of such guarantees. The cost of interest payment guarantees is not directly observable because a guarantee is a contingent obligation that becomes effective only if the debtor fails to make a certain payment. The strategy adopted in this paper is to estimate the market price that an interest payment guarantee would have if such a contract existed and were traded in financial markets. Using results from option pricing theory it is possible to calculate the price that an “interest guarantee contract” would carry in financial markets on the basis of the price of developing-country debt in secondary markets.
Author : Dr. Jürgen Kaiser,Alain Lambert
Publisher : Iucn
Page : 76 pages
File Size : 42,6 Mb
Release : 1996
Category : Debt equity conversion
ISBN : MINN:31951D016287647
This publication is aimed at helping IUCN's members to understand the scope and mechanisms of debt conversion and to spot opportunities for their own action in this important field.
Author : Daniel Cohen
Publisher : World Bank Publications
Page : 40 pages
File Size : 40,9 Mb
Release : 1999
Category : Electronic
ISBN : 8210379456XXX
July 1996 The role of debt forgiveness is to alleviate what is known as debt overhang. This concept is the core idea of the Brady deals, and it now comes to the African debt crisis. How can one gauge the hypothesis of the debt overhang? To what extent can one attribute the growth slowdown of the 1990s to the debt crisis of the 1980s? Using data from the past decade, the author finds that debt variables play a significant role in that slowdown. In one exercise, he finds that more than half the growth slowdown of the large debtor countries in the 1980s could be attributed to the debt crisis. To what reasonable debt ratio should African debt be written down? Most exercises set the threshold of sustainability of debt at about 200 percent. The easiest way to rationalize such a threshold is first to measure the average value of debt-to-export ratios reached at the time of the first rescheduling of debt in a given country. Using Latin America as a benchmark, one finds an average threshold of 248 percent. However short-sighted such a ratio might be, it goes a long way toward rationalizing the view that a debt-to-export ratio between 200 and 300 percent is a strong signal of a forthcoming crisis. This naive approach takes no account of the changing environment (growth and interest rates) a country must confront. A more subtle approach should allow for the prospect of a country's growth to assess the sustainability of the debt it inherits. With the author's formula for so doing, Africa's debt-to-export ratio should be brought to 198 percent. Another way to assess the sustainability of debt is to look at the secondary market, which allows one to estimate the prospect of repayment expected by market participants. Few African debts are actually quoted on secondary markets, but the author presents a formula for reconstructing estimates of repayment prospects econometrically. By that method, Africa's debt-to-export ratio should be 210 percent, suggesting that a threshold between 200 and 250 percent is about right.
Author : Olivier Blanchard,Stanley Fischer
Publisher : MIT Press
Page : 312 pages
File Size : 49,8 Mb
Release : 1992
Category : Business & Economics
ISBN : 0262521741
This is the seventh in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents What Shall We Do Today? Goals and Signposts in the Operation of Monetary Policy, Ben S. Bernanke and Frederic S. Mishkin - A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore, Alwyn Young - International Trade and the Wage Structure, Steven J. Davis - Imperfect Information and Macroeconomic Analysis, Joseph E. Stiglitz and Bruce Greenwald - Asset Pricing Lessons for Macroeconomics, Lars P. Hansen and John H. Cochrane - Postmortem on the Debt Crisis, Daniel Cohen
Author : Alexander Karmann
Publisher : Springer Science & Business Media
Page : 254 pages
File Size : 48,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642576744
The basic question of this book is what we can learn from empirical as well as theoretical analysis of financial systems, differing cross-sectional and changing structually over time, with respect to the issue of stability of financial systems. Part I of the book deals with stability issues in a globalizing financial world and addresses topics of convergence, domestic policy, financial bubbles, crises and international coordination. Part II is on banking systems. Country specific adoption and restructuring of (universal but also separation) banking systems are key problems for the industrialized economies, while catching-up is of major concern for the economies in transition. Feeble regional economies and subsidized banking is at the heart of the vivid dispute on public sector banking being taken up in Part III. The last Part is devoted to resource-oriented approaches in quantifiying financial development and risk of sovereign default.
Author : Anonim
Publisher : World Bank Publications
Page : 25 pages
File Size : 42,7 Mb
Release : 2024-06-30
Category : Electronic
ISBN : 8210379456XXX
