The Sustainability Of Asia S Debt

Author : Ferrarini, Benno,Giugale, Marcelo M.,Pradelli, Juan J.
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 41,9 Mb
Release : 2022-02-22
Category : Business & Economics
ISBN : 9781800883727

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The Sustainability of Asia’s Debt by Ferrarini, Benno,Giugale, Marcelo M.,Pradelli, Juan J. Pdf

This is an open access title available under the terms of a [CC BY 3.0 IGO] License. It is free to read, download and share on Elgaronline.com. Asia has shown the world what success in economic development looks like. From the amazing transformations of Japan, the Republic of Korea, and the other ‘tigers’ in the early 70s, to the more recent takeoffs of the People’s Republic of China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies were adopted, productivity raised, and export markets conquered. Billions were lifted out of poverty. What was once a backwater is now a global engine of growth.

Author : Benno Ferrarini,Marcelo M. Giugale,Juan Pradelli
Publisher : Edward Elgar Publishing
Page : 512 pages
File Size : 40,5 Mb
Release : 2022-02-28
Category : Electronic
ISBN : 1800883714

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Debt Sustainability in Asia by Benno Ferrarini,Marcelo M. Giugale,Juan Pradelli Pdf

This thought-provoking book investigates the anatomy and dynamics of debt accumulation in Asia, both before and after the Covid-19 pandemic. Well-renowned contributors provide an in-depth review of the debt accumulated by both public and private sectors and examine how sustainable this is now and will be in the future.

Author : Benno Ferrarini,Arief Ramayandi,Raghbendra Jha
Publisher : Routledge
Page : 226 pages
File Size : 44,9 Mb
Release : 2012-11-12
Category : Business & Economics
ISBN : 9781136199905

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Public Debt Sustainability in Developing Asia by Benno Ferrarini,Arief Ramayandi,Raghbendra Jha Pdf

Addressing the Global Financial Crisis required fiscal intervention on a substantial scale by governments around the world. The consequent build up of public debt, in particular its sustainability, have moved centre stage in the policy debate. If the Asia Pacific region is to continue to serve as an engine for global growth its public debt must be sustainable. The book addresses this issue for Asia Pacific as a whole as well as for three of the most dynamic economies in the region: China, India and Vietnam. The book begins with a discussion of the reasons why there is increased attention on debt related issues and outline the contents of the volume. The book also includes fiscal indicators for Developing Member Countries (DMCs) as categorized by the Asian Development Bank (ADB). Debt sustainability for these countries is assessed through extant approaches and with the most updated data sources. It also surveys the extant literature on debt sustainability, outlining the main issues related to debt sustainability and discusses the key implications for the application of debt sustainability analysis in developing Asia. The book highlights the importance of doing individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g. federal), and the like as well as in the impact of debt on interest rates. It provides in-depth debt sustainability analyses of China, India and Vietnam. The book is a comprehensive analytical and empirical update of the sustainability public debt in developing Asia. It breakes new ground in that various characteristics of the sustainability that have not yet been explored in the literature which, nevertheless, are crucial to understanding it. As a consequence, the policy analysis is based on firmer footings than in the extant literature and should prove useful to graduate students, researchers as well as policymakers.

Author : Benno Ferrarini,Arief Ramayandi
Publisher : Unknown
Page : 35 pages
File Size : 51,8 Mb
Release : 2015
Category : Electronic
ISBN : OCLC:932514414

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Public Debt Sustainability in Developing Asia by Benno Ferrarini,Arief Ramayandi Pdf

Author : United Nations Economic and Social Commission for Asia and the Pacific
Publisher : Unknown
Page : 0 pages
File Size : 45,6 Mb
Release : 2023
Category : Electronic
ISBN : 9210025563

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Economic and Social Survey of Asia and the Pacific 2023 by United Nations Economic and Social Commission for Asia and the Pacific Pdf

One of the main value additions of the Survey 2023 is a proposal for an augmented Debt Sustainability Analysis (DSA) approach that duly incorporates SDG investment needs, potential socioeconomic and environmental gains, government's structural policies that go beyond financial considerations, and government's resource mobilization strategies and financial capacity. The Survey 2023 also provides new insights on how to prevent potential public debt crises and resolve public debt distress in order to effectively pursue the SDGs. For example, in prevention of public debt crisis, governments will need to explore unconventional policy measures such as leveraging the potential of non-tax policy measures and public assets. In resolving public debt distress governments might need to bring the rising number of commercial debt creditors into discussions with the existing institutional investors, while fundamental policy actions to enhance fiscal resources are still needed, governments will also need to explore unconventional policy measures, such as leveraging the potential of non-tax policy measures and public assets amid rising public indebtedness. In resolving public debt distress, while the emergence of commercial creditors brings new opportunities as many of them are increasingly mindful about the importance of sustainable development, their participation in the existing global debt architecture is virtually missing. At the same time, several unconventional, SDG-aligned debt relief modalities have recently been proposed. Amid these and other changes in the global and Asia-Pacific debt landscapes and rising public indebtedness in the region, it is time to rethink public debt issues in support of the SDGs.

Author : R. Rajan,K. Tan
Publisher : Springer
Page : 202 pages
File Size : 47,7 Mb
Release : 2014-07-25
Category : Business & Economics
ISBN : 9781137406972

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Fiscal Sustainability and Competitiveness in Europe and Asia by R. Rajan,K. Tan Pdf

This book examines key issues and policy concerns relating to fiscal sustainability and competitiveness in European and Asian economies. In addition to estimating the extent of fiscal capacity or lack thereof for these economies, the authors supplement the empirical analysis with country case studies.

Author : United Nations Publications
Publisher : UN
Page : 0 pages
File Size : 46,9 Mb
Release : 2023-06-26
Category : Political Science
ISBN : 9211208548

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Economic and Social Survey of Asia and the Pacific 2023 by United Nations Publications Pdf

One of the main value additions of the Survey 2023 is a proposal for an augmented Debt Sustainability Analysis (DSA) approach that duly incorporates SDG investment needs, potential socioeconomic and environmental gains, government's structural policies that go beyond financial considerations, and government's resource mobilization strategies and financial capacity. The Survey 2023 also provides new insights on how to prevent potential public debt crises and resolve public debt distress in order to effectively pursue the SDGs. For example, in prevention of public debt crisis, governments will need to explore unconventional policy measures such as leveraging the potential of non-tax policy measures and public assets. In resolving public debt distress governments might need to bring the rising number of commercial debt creditors into discussions with the existing institutional investors, while fundamental policy actions to enhance fiscal resources are still needed, governments will also need to explore unconventional policy measures, such as leveraging the potential of non-tax policy measures and public assets amid rising public indebtedness. In resolving public debt distress, while the emergence of commercial creditors brings new opportunities as many of them are increasingly mindful about the importance of sustainable development, their participation in the existing global debt architecture is virtually missing. At the same time, several unconventional, SDG-aligned debt relief modalities have recently been proposed. Amid these and other changes in the global and Asia-Pacific debt landscapes and rising public indebtedness in the region, it is time to rethink public debt issues in support of the SDGs.

Author : Bernadette Andreosso-O'Callaghan,Serge Rey,Robert Taylor
Publisher : Springer Nature
Page : 231 pages
File Size : 44,7 Mb
Release : 2022-04-28
Category : Business & Economics
ISBN : 9783030946791

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Sustainable Development in Asia by Bernadette Andreosso-O'Callaghan,Serge Rey,Robert Taylor Pdf

This book examines the current main sustainable development issues in Asia from a socio-economic, macroeconomic, and financial perspective, beyond a plain environmental context. The book further analyzes both financial or health crises, which jeopardize the economic sustainability of countries, particularly in Asia where a sustained economic growth path is an occurrence of the recent past. By doing so, the volume presents case studies on countries such as China, Japan, South Korea, and ASEAN countries, like Thailand. In some instances, the book provides a comparative analysis of the experience of European Union countries. The book is divided into two parts. The first part presents contributions with socio-economic perspectives under the broad heading of sustainable development. Each contribution examines a specific Asian country. Additionally, it looks into China’s rise in adjacent regions like the Middle East, discussing China’s positioning in the world in the current post Covid19 context. The second part presents the experiences of a number of Asian countries in terms of financial and economic perspectives, including an analysis of the issue of sovereign debt. The book further examines broader topics, like the sustainability of the top financial centers, and micro-finance. The volume is a must-read for scholars, students, and practitioners, interested in a better understanding of sustainable development issues in Asia in particular, and economics in general.

Author : Mr.Gian Milesi-Ferretti,Assaf Razin
Publisher : International Monetary Fund
Page : 50 pages
File Size : 41,6 Mb
Release : 1996-10-01
Category : Business & Economics
ISBN : 9781451853292

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Current Account Sustainability by Mr.Gian Milesi-Ferretti,Assaf Razin Pdf

A number of developing countries have run large and persistent current account deficits in both the late seventies/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries-Chile, Colombia Mexico-and three East Asian countries-Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.

Author : Naoyuki Yoshino,Peter J. Morgan
Publisher : Edward Elgar Publishing
Page : 448 pages
File Size : 46,8 Mb
Release : 2024-06-03
Category : Electronic
ISBN : 9781786436870

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Central and Local Government Relations in Asia by Naoyuki Yoshino,Peter J. Morgan Pdf

Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.

Author : Indermit Singh Gill,Brian Pinto
Publisher : World Bank Publications
Page : 43 pages
File Size : 43,7 Mb
Release : 2005
Category : Debts, Public
ISBN : 8210379456XXX

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Public Debt in Developing Countries by Indermit Singh Gill,Brian Pinto Pdf

"Over the past 25 years, significant levels of public debt and external finance are more likely to have enhanced macroeconomic vulnerability than economic growth in developing countries. This applies not just to countries with a history of high inflation and past default, but also to those in East Asia, with a long tradition of prudent macroeconomic policies and rapid growth. The authors examine why with the help of a conceptual framework drawn from the growth, capital flows, and crisis literature for developing countries with access to the international capital markets (market access countries or MACs). They find that, while the chances of another generalized debt crisis have receded since the turbulence of the late 1990s, sovereign debt is indeed constraining growth in MACs, especially those with debt sustainability problems ... " -- Cover verso.

Author : International Monetary Fund. European Dept.,International Monetary Fund. Middle East and Central Asia Dept.,European Bank for Reconstruction and Development,World Bank,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 45 pages
File Size : 44,9 Mb
Release : 2002-04-02
Category : Political Science
ISBN : 9781498328869

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Poverty Reduction, Growth and Debt Sustainability in Low-Income CIS Countries by International Monetary Fund. European Dept.,International Monetary Fund. Middle East and Central Asia Dept.,European Bank for Reconstruction and Development,World Bank,International Monetary Fund. Asia and Pacific Dept Pdf

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Author : ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PA.,United Nations Economic and Social Commission for Asia and the Pacific
Publisher : Unknown
Page : 83 pages
File Size : 50,9 Mb
Release : 2022
Category : Electronic
ISBN : 9789210015370

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Reclaiming Our Future by ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PA.,United Nations Economic and Social Commission for Asia and the Pacific Pdf

The publication describes pathways to achieve more inclusive and sustainable post-pandemic recovery in Asia and the Pacific. It identifies elements for a common agenda for present and future generations centered on protecting people and planet, leveraging on digital opportunities, trading and investing more together, raising financial resources and managing debt. It underlines the need to listen and work with the youth, placing women at the center for crisis-prepared policy action and new people-centric partnerships, with a readiness of the Economic and Social Commission for Asia and the Pacific (ESCAP) to serve.

Author : Cheng Hoon Lim,Ms. Ritu Basu,Mr. Yan Carriere-Swallow,Kenichiro Kashiwase,Mahmut Kutlukaya,Mike Li,Ehraz Refayet,Dulani Seneviratne,Mouhamadou Sy,Ruihua Yang
Publisher : International Monetary Fund
Page : 48 pages
File Size : 43,9 Mb
Release : 2024-01-29
Category : Business & Economics
ISBN : 9798400256752

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Unlocking Climate Finance in Asia-Pacific by Cheng Hoon Lim,Ms. Ritu Basu,Mr. Yan Carriere-Swallow,Kenichiro Kashiwase,Mahmut Kutlukaya,Mike Li,Ehraz Refayet,Dulani Seneviratne,Mouhamadou Sy,Ruihua Yang Pdf

The transition to a sustainable future in the Asia-Pacific region has global economic significance. Despite driving global growth in recent years, the region's heavy coal reliance led to significant greenhouse gas emissions. Meeting climate mitigation and adaptation needs in emerging and developing Asia requires investment of at least $1.1 trillion annually. Actual investment falls short by about $800 billion. Asia-Pacific’s environmental performance has also hampered its ability to tap into private flows from the fast-growing ESG asset class, keeping the cost of issuing sustainable debt instruments relatively high compared to other regions. This paper provides an overview of the climate finance ecosystem in countries in the Asia-Pacific region and presents strategies to mobilize climate finance for the region’s transition to a sustainable future. The paper identifies challenges, including gaps in the climate information architecture, policy conflicts, global complexities, and emphasizes the need for coordinated action involving governments, central banks, financial supervisors, the IMF, and other multilateral institutions. In particular, • Governments need to establish a well-defined climate strategy with strong institutional oversight and coordination to strengthen the framework on data, taxonomies, and disclosures. Fossil fuel subsidies should be phased out and carbon pricing schemes expanded to create fiscal space for sustainable investments. Strengthening macroeconomic management is essential to attract private capital. • Financial supervisors and central banks should coordinate across jurisdictions to promote global, interoperable disclosure standards, enhance climate risk analysis and reporting, and incorporate climate-related financial risks into prudential frameworks. Developing climate labels for sustainable investment funds and shifting the focus of ESG scores to better capture sustainability and climate impact would foster trust in the evaluations. The IMF can drive climate action by integrating discussions in surveillance activities and strengthening data and statistics—including through capacity building and peer learning—to develop common standards around climate risk measurement and analysis. The Resilience and Sustainability Trust could contribute to reducing financing gaps through its catalytic and reform supporting functions, while multilateral development banks could scale up grant financing and concessional lending, and where appropriate adopt risk-mitigating mechanisms to expand lending capacity. Cooperation among multilateral institutions is essential to align efforts and resources to achieve a balanced allocation between mitigation and adaptation lending.

Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 49,8 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.