Search results for "DEBT"
showing 10 items of 295 documents
Debtors' Ethical Perceptions of the Debt Collection Process
2018
This study researches debtors’ perception of debt collection agencies. The research data shows that a debtor perceives the debt collection as expensive, greedy and uncompromising as well as even sometimes extortionate and threatening. Yet positive perceptions appeared such as flexible, well mannered and polite. The debtor’s attitude towards debt collection agencies defines a significant part of the working environment of a debt collection agent – this study provides valuable information to inform the conduct of debt collection agents. peerReviewed
Velka, vararikko ja tuomio : konkurssi ja sen merkitykset 1800-luvun suomalaisissa kaupungeissa
2017
This dissertation makes use of legal documents and ancillary official sources revealing the life courses of individuals to explore the implications of bankruptcy and the meanings attached to it at a time when Finnish society industrialized and modernized. Three perspectives serve to support the analysis. At the heart of the study is the domestic economy. Thus the study is concerned with cases of bankruptcy ruin both during life and also after death. Secondly, bankruptcy is addressed as an indicator of economic dynamism and entrepreneurial spirit. Thirdly, attitudes to bankruptcy are approached from the perspective of legal and social forgiveness. The era of industrialization gave rise to ev…
Bankruptcy and restructuring law in Poland
2019
The aim of this study is to present general description of the bankruptcy and restructuring law in Poland. The insolvency law is of fundamental importance to business transactions and investment security. The law on bankruptcy and entrepreneurs’ restructuring is increasingly perceived as an important factor in encouraging economic development and investment as well as a factor favouring entrepreneurs’ activity and preservation of jobs. Substantive condition of the bankruptcy and restructuring law has a very real impact on the economy.
Inequality Fragility Hypothesis
2016
The last four decades have been marked by growing inequality. The inequality of income and wealth is one of the most important macroeconomic issues of our time. Inequality contributed to Global Savings Glut and Global Financial Crisis through riskiness channel and a greater propensity to borrow for poor people. This paper presents evidence that besides structural factors, monetary policy, high leverage and the development of new money substitutes are critical in explaining the inequality trend in advanced countries. Increasing economic inequality acts as financial instability enhancer and if left untreated it poses a significant threat to economic sustainability.
The IMF Lending Activity – A Survey
2014
Abstract This paper presents the evolution of the IMF lending arrangements approved between 1953-2013. The study covers both non-concessional and concessional loans. The findings show that the volume of the IMF loans has fluctuated significantly and the value of the IMF lending has increased over a period of economic or financial crisis, as the debt crisis of the 1980s, the Tequila crisis in 1994-1995, the Southeast Asia crisis in 1997-1998, Russia in 1998, Brazil in 1998-1999 and Argentina in 1999-2002 or the global financial crisis since 2008.
When Fiscal Consolidation Meets Private Deleveraging
2016
We analyze the interaction between fiscal consolidation and private-sector deleveraging in an economy within a monetary union. Pre-existing long term collateralized private debt – a core ingredient of the deleveraging process – plays a critical role in shaping fiscal multipliers. By buffering the short-run fall in debtors’ spending capacity, long-run private debt reduces the short-run multipliers of aggressive (large and/or fast) consolidations. However, absent credibility concerns, aggressive consolidations raise the intensity and length of private deleveraging, causing higher output losses over the medium run. In terms of discounted output losses and welfare, this latter effect dominates,…
Determinants of Immigration in Europe. The Relevance of Life Expectancy and Environmental Sustainability
2017
This research analyzes the main variables that determine immigration in Europe and includes aspects related to the economy, population, healthcare, and environmental sustainability. The empirical analysis consists of two sets of data: one made up of all EU member states (EU-28) and the other containing countries that form a part of the Eurozone (EU-19), using the Generalized Method of Moments. The sample covers the period between 2000 and 2014, and the data are analyzed separately and comparatively in the most relevant stages during that time (economic prosperity, crisis, and recovery). The most notable results indicate that the variables related to GDP and public debt largely serve to just…
Contingent Convertible Bonds for Sovereign Debt Risk Management
2018
Abstract We consider convertible bonds that contractually stipulate payment standstill, contingent on a market indicator of a sovereign’s credit worthiness breaching a distress threshold. This financial innovation limits ex ante the likelihood of debt crises and imposes ex post risk sharing between creditors and the debtor. Drawing from literature on contingent contracts, neglected risks, and bank CoCo, we extend prevailing arguments in favor of sovereign CoCo (S-CoCo). We discuss issues relating to their design: which market trigger, market discipline and sovereign incentives, and errors of false alarms or missed crises, and provide supporting evidence with eurozone data and a simple simul…
An institutional view on access to finance by Tanzanian women-owned enterprises
2017
We investigate the limited use of bank and microfinance loans by Tanzanian female entrepreneurs. Using survey data, we observe that female entrepreneurs mainly use informal sources to finance their businesses. We analyze how “perceptions” of gendered cognitive and normative institutions determine whether a female entrepreneur applies for a formal loan. Following results stand out: first, we find that high collateral requirements, interest rates and personal guarantee requirements make formal loans unattractive. Second, female entrepreneurs only apply when they expect to be successful. Since they “perceive” access to finance to be more problematic for women,female entrepreneurs are discourag…
Psychometric Properties of the Indebtedness Scale (IS-R) in Spanish University Students
2019
The importance of trait indebtedness in the context of the study of gratitude has been growing in recent years, since both constructs form complex dynamics in response to the reception of a gift. In this work, the disposition to feel indebtedness is studied, through analysis of convergence and divergence, exploratory, and confirmatory analysis in the Spanish population, with the most used measurement instrument, i.e. The Revised Indebtedness Scale, IS-R. This scale depicted a four factor solution interrelated with a high consistency of content, which allows their labeling and describing. To do this, two samples of university students were selected; one of the sample sizes had 229 participan…