PPPs: Public Private Partnerships
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Debt Crisis – MoUs: Return to the Middle Ages for the working world
On the occasion of the debt crisis in Greece and the adoption of the Memoranda, a series of measures were…
Debt payments have devastating effects on public spending
Abinaya Nathan Source: Jubilee Debt Campaign In Chad, pregnant women are putting off going to important but expensive health check-ups,…
A Historical Public Debt Database
This paper describes the compilation of the first truly comprehensive historical public debt database (HPDD) covering gross government debt-to-GDP ratios…
Control of the public debt: A requirement for price stability?
The paper considers the role of limits upon the permissible growth of public debt, like those stipulated in the Maastricht…
Public Debt Overhangs: Advanced- Economy Episodes Since 1800
The recent fi nancial crisis and recession has left a legacy of historically high and rising level of public indebtedness…
Fiscal Deficits, Public Debt, and Sovereign Bond Yields
The recent sharp increase in fiscal deficits and government debt in many countries raises questions regarding their impact on long-term…
Confidence Crises and Public Debt Management
Under free capital mobility, confidence crises can result in devaluations even when fixed exchange rates are viable, if fiscal authorities…
Bank monitoring and the pricing of corporate public debt
We examine whether the existence of a bank/Þrm relationship lowers the cost of public debt Þnancing. Using a sample of…
Bank Information Monopolies and the Mix of Private and Public Debt Claims
This article examines the determinants of the mix of private and public debt using detailed information on the debt structure…
PUBLIC DEBT GUARANTEES AND PRIVATE CAPITAL FLIGHT
Significant amounts of private capital have flowed out of several of the more heavily indebted developing countries. This outflow, often…
Public Debt and Economic Growth: Is There a Causal Effect?
This paper uses an instrumental variable approach to study whether public debt has a causal effect on economic growth in…
Transfers from the Periphery to the Centre, from Labour to Capital
Public opinion is convinced that the North is trying to help the South. Yet François Mitterrand declared in Naples at…
World Debt figures
To facilitate our understanding of the complexity of the current crisis, Damien Millet, Eric Toussaint, and Daniel Munevar (CADTM) present…
Bankocracy
Governments of the most industrialised countries have dramatically increased their public debt to bail out the private banks after the…
Figures relating to the debt for 2009
A necessary tool to understand the current global crisis, the data collected here by Damien Millet and Eric Toussaint (CADTM)…
What future for the IMF, the World Bank and the WTO? Reform the UN?
Can the IMF and the World Bank be reformed? There is every reason to doubt it. In my opinion, these…
Globalization from Christopher Columbus and Vasco da Gama until today
The beginning of Globalization goes back to the outcomes of the first voyage of Christopher Columbus that brought him, on…
The life and crimes of an exemplary man
Jacques de Groote, the former Executive Director at the IMF (1973- 1994) and World Bank (1975-1991) for Belgium, was condemned…
Ecuador at the cross-roads. For an integral audit of public indebtedness
Indebtedness in developing countries presents a specific feature which has to be set at the heart of public debate: it results…
The behavior of U.S. Public Debt and Deficits
How do governments react to the accumulation of debt? Do they take corrective measures, or do they let the debt…
AssociationPublic Debt as Private Liquidity
There has been a great deal of public concern in the United States about the rapid growth of the public…
The Choice Among Bank Debt, Non-Bank Private Debt and Public Debt: Evidence From New Corporate Borrowings*
Using a sample of 1,560 new debt financings, we examine the choice among bank debt, private, non-bank debt, and public…
On the determination of the public debt
A public debt theory is constructed in which the Ricardian invariance theorem is valid as a first-order proposition but where…
The future of public debt: prospects and implications
Since the start of the financial crisis, industrial country public debt levels have increased dramatically. And they are set to…
Sustainability of public debt
The development of public debt and budget deficits has become a cru-cial policy problem in most industrialized countries. 1 Political…
Public Debt and the Price Level
This paper considers whether monetary and fiscal policy may sensibly be formulatedindependently of one another, and argues that the reasons…
Public Debt and Economic Growth in Advanced Economies: A Survey
This paper surveys the recent literature on the links between public debt and eco-nomic growth in advanced economies. 1 The…
Public Confidence and Debt Management: A Model and A Case Study of Italy
High debt countries may face the risk of self-fulfilling debt crises. If the public expects that in the future the…
The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
As a result of deregulation, there was a dramatic shift during the 1980s in Japan away from bank debt financing…
Electoral and Partisan Manipulation of Public Debtin Developed Democracies
High and/or swiftly rising public-debt-to-GDP ratios (debt) became significant issues in many developed democracies in recent years. Figure 1 plots…
The Politics of Public Debt Neoliberalism, Capitalist Development, and the Restructuring of the State
Rising public debt has been widespread in democratic-capitalist political economies since the 1970s, generally accompanied among other things by weak…
Public Debt management in Brazil
This paper derives the optimal composition of the Brazilian public debt by looking at the relativeimpact of the risk and…
Sustainability of public debt, public capital formation, and endogenous growth in an overlapping generations setting
Under the golden rule of public finance for public investment with a constant budget deficit/GDP ratio, we show that for…
PUBLIC DEBT EXTERNAL COMPETITIVENESS ND FISCAL DISCIPLINE IN DEVELOPING COUNTRIES
Macroeconomic -stabilization and structural -adjustment programs for debt – ridden developing countries generally center on two major policies: reduction of…
An endogenous growth model with public capital andsustainable government debt
This paper presents and analyzes an endogenous growth model with public cap-ital and public debt. It is assumed that the…
On the link between fiscal decentralization and public debt in OECD countries
Excessive borrowing by subnational governments is considered to be one of the perils of fiscal decentralization. On the other hand,…
Historical Patterns of Public Debt – Evidence From a New Database
This paper introduces the first truly comprehensive database on gross government-debt-to-GDP ratios, covering nearly the entire IMF membership (178 countries)…
Is High Public Debt Always Harmful to Economic Growth? Reinhart and Rogoff and some complex nonlinearities
In their already-famous 2010 article “Growth-in-a-Time-of-Debt” ( AER -100(2)-pp.-573-78), Carmen Reinhart and Kenneth Rogoff show that average post-WW2 economic growth…
Public debt sustainability and endogenous seignorage in Brazil: time-series evidence from 1947-92
Using national accounts data for the revenue-GDP and expenditure GDP ratios from 1947 to 1992, we examine two central issues…
Institutional arrangements for public debt management
This paper analyzes institutional arrangements for public debt management by reviewing the experience of OECD countries during the late 1980s…
Public Debt Indexation and Denomination – The Case of Brazil
The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities.…
Public Debt and the Limits of Fiscal Policy to Increase Economic Growth
Research that seeks to estimate the effects of fiscal policies on economic growth has ignored therole of public debt in…
Public Debt and Price Stability
Modernized Austrian capital theory implies: in capital market equilibriumwithout public debt the average period of production equals the average waiting…
Federal Deficit Policy and the Effects of Public Debt Shocks
Shifts between current taxation and debt issue alter the timing of taxes, which induces a variety of intertemporal substitution effects.…
The Outlook for Financing Japan’s Public Debt
Despite the rapid rise in public debt and large fiscal deficits, Japanese Government Bond (JGB) yields have remained fairly stable.…
Restrictive Covenants Included in Public Debt Agreements: An Empirical Investigation
I would like to thank my thesis committee: Ross Watts, Ray Ball, Clifford Smith, Bill Schwert and seminar participants at…
Deficits, public debt dynamics, and tax and spending multipliers
Cutting government spending on goods and services increases the budget de fi cit if the nominal interest rate is close…
Local public goods, debt and migration
Migration raises a potential free rider problem for the provision of durable local public goods if the latecomers can enjoy…
Corporate Tax Avoidance and Public Debt Costs
We investigate the impact of corporate tax avoidance on the cost of public debt and provide evidence on the channels…
Partisan politics and Public Debt: The importance of the Whig Supremacy for Britain’s Financial Revolution
It has become common for authors to argue that government commitment to repay debt depends upon institutions. In this article…
Coordinating Public Debt Management with Fiscal and Monetary Policies: An Analytical Framework
This paper proposes a sovereign asset and liability management framework for analyzing the inter-relationships between debt management, fiscal and monetary…
Economic Growth with constraints on Tax Revenues and public Debt: Implications for fical policy and cross-country differences
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study…
Intetemporal budget constraint and public debt sustainability: The case of Italy
The theory of intertemporal budget constraint is applied to test Italian public debt sustainability with the finding that current fical…
Public Debt, Fiscal Solvency and Macroeconomic uncertainty in Latin America: The cases of Brazil, Colombia, Costa Rica and Mexico
Ratios of public debt as a share of GDP in Brazil, Colombia, and Mexico were 10 percentage pointshigher on average…
Α POSITIVE THEORY OF FISCAL DEFICITS AND GOVERNMENTDEBT IN A DEMOCRACY
This paper considers an economy in which policyniakers with different preferences concerning fiscal policy alternate in office as a result…
The Positive Political Economy of Public Debt:An Empirical Examination of the OECD Postwar Experience
Theoretical literature seeking to explain public-debt accumulation exploded in recentyears as debt crises emerged in many nations. Empirical evaluation of…
The constitutional implications of the European responses to the financial and public debt crisis
The debate on the appropriate responses to the crisis is increasingly, and more directly than ever, calling into question the…
Public Debt in a medium-term perspective
Concerns about increasing government indebtness have been an important factor behind the widespread view. public debt in a medium_ter… by…
Public Debt and Economic Growthinan Aging Japan
Public Debt and Economic Growth in an Aging Japan Toshihiro Ihori Faculty of Economics, University of Tokyo Ryuta Ray Kato…
From financial crash to debt crisis
Newly developed long historical time series on public debt, along with modern data on external debts,allow a deeper analysis of…
Human capital formation, public debt andeconomic growth
Human capital formation, public debt andeconomic growth Alfred Greiner ∗ Abstract This paper presents an endogenous growth model with human…
Monetary and fiscal policy coordination with a high public debt
Monetary policy in Italy has large repercussions on the size of the government budget. wp449.pdf by Debt Free on Scribd
Public Debt and Economic Growth: a Granger Causality Panel Data Approach
This paper analyses the Granger-causality relationship between the growth of the real GDP per capita and the public debt, here…
Private versus Public Debt: Evidence from firms that replace bank loans with junk bonds
We study firms that reduced private debt by repaying bank loans with proceeds from junk bonds. Thedebt contracts differ dramatically,…
Growth implosions, debt explosions, and my Aunt Marilyn:Do growth slowdowns cause public debt crises?
The worldwide growth slowdown after 1975 was a major negative fiscalshock; lower growth lowers the present value of tax revenues…
Probabilistic Sustainability of Public Debt:A Vector Autoregression Approach for Brazil, Mexico, and Turkey
This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil, Mexico, and Turkey. For…
How does corruption affect public debt?
“This paper examines the relationship between corruption and public debt in 106 countries. Results suggest that corruption leads to an…
Impact of Public Debt on the Economic Growth of Pakistan
Economic Growth of Pakistan N AEEM A KRAM * 1. INTRODUCTION Heavy indebtedness of the developing countries is one of…
The Impact of Growing Public Debt on Economic Growth in the European Union
The paper attempts to empirically explore the transmission mechanism regarding the short-term impact of public debt and growth. We examine…
“A stability act for Public Debt”
There is an urgent need to link the excessive deficit procedure with the issue of sustainabilityand hence the evolution of…
Public Debt and redistribution with borrowing constraints
“We build a model with financial imperfections and heterogeneous agents and analyse the effects of two types of fiscal policy:…
Government Weakness and ElectoralCycles in Local Public Debt:Evidence from Flemish Municipalities
ABSTRACT Empirical research on Political Business (and Budget) Cycles is moresupportive for electoral cycles in policies than in macro-economic outcomes.…
Open letter to European World Bank Executive Directors on WBG promotion of public-private partnerships
Wednesday, 8 January 2019 – Eurodad, along with 34 other CSO organisations, have today sent an open letter to the European…
Debt Free in the conference ‘The Financialisation and Development in the Global South’.
From 26 to 28 November 2019, SOMO, Centro Cultural de la Cooperación Floreal Gorini, with scholars from the University of…
ΣΔΙΤ εναντίον νοσοκομείων και Εθνικού Συστήματος Υγείας στην Αγγλία
Στην Αγγλία μπορεί ακόμη και οι Τόρηδες να επαίρονται ότι το Εθνικό Σύστημα Υγείας δεν το πείραξε ούτε και οι…
GREECE: INDEBTED HEALTH
In 2010, Greece faced an accelerated economic downturn and, under the fear of bankruptcy, the government requested financial assistance from…
Χρέος 14.000.000 ευρώ προς την ΕΥΑΘ ισχυρίζεται πως βρήκε ο νέος δήμαρχος Δέλτα
“Χρειάζεται να δρομολογηθεί μια λύση που θα αποτελεί τη χρυσή τομή για την επίλυση του τεράστιου αυτού προβλήματος χωρίς να…
Οι αριθμοί αφηγούνται την κρίση
Αναδημοσιεύουμε το παρόν κείμενο σε μια προσπάθεια συμβολής στην κίνηση αναλύσεων και ιδεών. Σημειώνεται ότι θα προκρίναμε μία πολύ πιο…
Moody’s: Σε αρνητικές υποβάθμισες τις προοπτικές του αξιόχρεου του Ηνωμένου Βασιλείου
Σε αρνητικές, από σταθερές, υποβάθμισε τις προοπτικές του αξιόχρεου του Ηνωμένου Βασιλείου, ο οίκος Moody’s, επικαλούμενος την εξασθένηση της θεσμικής…
Χρέη στο δημόσιο : Κλείδωσαν 24 και 48 δόσεις για πάγια ρύθμιση από το 2020
Στη θέσπιση πάγιας ρύθμισης για χρέη στο Δημόσιο προχωράει το οικονομικό επιτελείο της κυβέρνησης, με προοπτική οι νέες διατάξεις να…
U.S. Debt Exceeds $23 Trillion for the First Time in History
U.S. national debt has risen by more than $1 trillion in less than nine months.
Tell the new IMF chief: bail out people not banks
Many countries are being forced to prioritise debt repayments while their citizens suffer cuts to basic services like healthcare and…
The IMF is spending $93 billion bailing out reckless lenders
The International Monetary Fund (IMF) are spending $93 billion bailing out reckless lenders to 18 countries, in new analysis released…
Response to the IMF response on bailing out reckless lenders
The International Monetary Fund (IMF) has publicly responded to our research, launched yesterday with 34 other civil society organisations, that…
ECB sanctions Piraeus Bank S.A. for breaching own funds provisions between 2015 and 2017
The Decision imposing a sanction may be challenged before the Court of Justice of the European Union under the conditions…
Southern Africa losing US $30 billion annually in trade-related illict outflows, external government debt payments
ACTION FOR SOUTHERN AFRICA (ACTSA) PRESS RELEASE
Why the ECB should go beyond “Market neutrality”
The European Central Bank regularly justifies the mis-alignement of its policies with the EU’s climate goals by claiming it must…
“Broken economy” is driving record levels of household debt, warns TUC
Low pay, insecure work and austerity are feeding a growing debt crisis, the TUC has warned today (Thursday). New TUC…
Mario Draghi contradicts himself on Helicopter money
Positive Money Europe regrets the decision of the Governing Council of the ECB to reintroduce Quantitative Easing, and laments the…
Former Credit Suisse banker pleads guilty over Mozambique loans
Former Credit Suisse banker Andrew Pearse has pleaded guilty to taking millions of dollars in kickbacks on three loans he…
G20 falls short on loan transparency
Πηγή: Jubilee Debt Campaign Tim Jones Despite making debt transparency one of the key items for discussion this year, the…
IMF agrees loan to Congo after China pushes debt payments into the future
The IMF has agreed $449 million of loans to the Republic of Congo over three years. In response to the…
G20 – a chance for solutions, or a part of the problem?
Source: Eurodad As G20 leaders meet this weekend to debate the state of the global financial and economic system, there…
Debt Crisis – MoUs: Return to the Middle Ages for the working world
On the occasion of the debt crisis in Greece and the adoption of the Memoranda, a series of measures were…
Of public debt and the Sisyphus experience
A.D.PAPAGIANNIDIS Greece has been in more than one ways (all of them unpleasant) a case of the European-and-global system…
Debt Free in the IIPPE conference in Croatia
The conferences of International Initiative for Promoting Political Economy (IIPPE) are held nearly every year. The Conference of 2018 was…
#EP2019: Will you stand up for financial justice?
The objectives of the European Union are being diverted from its foundations as a union for peace and solidarity, towards…
Political Discourse and Sense-Making. Providing Meaning to the focal issues in Greece under the Memoranda.
“Time is the best medicine” they say, and in the Greek political and social reality, this is more than true.
Things to watch in 2019: Debt and emerging debt crises (part 2)
At the start of the New Year, the number of countries at high risk of debt distress is growing at…
Things to watch in 2019: Debt and emerging debt crises (part 1)
Financing conditions will become more difficult in 2019. The world’s major central banks ‘normalised’ their monetary policies last year, meaning…
Mozambique hunts anti-corruption T-shirts
Police in Mozambique have camped outside the office of the main anti corruption body NGO, the Centre for Public Integrity…
Central Bank governor Philip Lane only applicant for top role at European Central Bank
Would you recruit an high-level economist paid 270k EUR yearly with full legal immunity without conducting job interviews with several…
Debt free in the conference of Havana
A flagship event, not only for Cuba and Latin America, but also for global critical thinking was the Fourth International…
Τhe cost of the new rescue of the banks in Cyprus is transferred to Education
«it is like privatizing a bank in France with 65 million customers, a bank in Germany with 80 million customers,…
Left, Right, and Finance
In the era of the Enlightenment public and private credit relations became ever more complex and widespread. At the same…
Princes, Central Banks, and Nations
Dr Spyros Marchetos The poor indebted again Indebtedness in Antiquity arose out of stark power relations, with the weaker…
ΠΑΛΙ ΕΚΤΟΣ ΕΛΕΓΧΟΥ ΤΟ ΔΗΜΟΣΙΟ ΧΡΕΟΣ;en
Με βάση λοιπόν τα δικά του δεδομένα, το χρέος της κεντρικής διοίκησης στις 30 Ιουνίου 2018 έφτασε τα 345,38 δισ.…