Search results for " sovereign debt"

showing 4 items of 4 documents

2013 ECONOMY MOMENTUM CHALLENGES FOR NEXT 10 YEARS

2013

Last 5 years of almost unprecedented financial market turmoil it s still generating comprehensive crisis theories, market paradigms and nevertheless unprecedented situations. The aim of this paper is to explain 2013 milestone momentum for new market rules and regulations implementation - Basel III. The expected immediate cushion factors as well the possible negative impact on financial markets is presented from financial institutions perspective. Finally, the paper seeks for an exploratory after 10 years scenario connected with imminent market evolution and tendencies.

Basel III systemic risk sovereign debt crisis risk capitalRevista Economica
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Asymmetric decentralisation, economic cycle, regional and local government’s borrowing in Spain

2014

This paper investigates the evolution of sub-central government borrowing in Spain over the period 1996–2011. The arguments and figures provided show that the intense process of political and fiscal decentralisation that took place over the 1990s and 2000s did not lead to higher debt ratios in terms of GDP at these tiers of government until 2007. Although a kind of overspending bias was in effect until the late 2000s, the paper shows that the evolution of GDP and tax revenues provided regional and local governments with enough resources to vigorously pursue their devolved public policy responsibilities and still keep their debt ratios under control. However, since 2008, when the world finan…

Economics and EconometricsGovernmentEconomic policyPublic policyDecentralizationTax revenueMarket economyjel:H1regional and local governments overspending bias sovereign debt economic growth power to tax intergovernmental grants financial crash SpainLocal governmentFinancial crisisBusiness cycleEconomicsjel:H6Debt ratiojel:H7Acta Oeconomica
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Risk profiles for re-profiling sovereign debt

2015

Purpose – This paper aims to use a risk management approach for re-profiling of sovereign debt. It develops profiles that trade off expected cost of financing alternative debt structures against their risk. The risk profiles are particularly informative for countries facing sovereign debt crisis, as they allow us to identify, with high probability, debt unsustainability. Risk profiles for two eurozone countries with excessive debt, Cyprus and Italy, were developed. In addition, risk profiles were developed for a proposal to impose debt sanctions in the Ukrainian crisis and it was shown that the financial impact could be substantial. Design/methodology/approach – Using scenario analysis, a r…

Settore SECS-S/06 -Metodi Mat. dell'Economia e d. Scienze Attuariali e Finanz.Italy Optimization Scenario analysis Sustainability analysis Cyprus crisis Ukrainian crisis Sovereign debt restructuring Stochastic programming Debt level
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The African Legal Support Facility as a Tool against Vulture Funds

2012

The article describes the action of vulture funds in enforcing sovereign debts against countries and the tools adopted to address the issue.

Vulture finds sovereign debts African Legal Support Facility
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