Search results for "GDP"
showing 10 items of 81 documents
Rho protein inhibition blocks protein kinase C translocation and activation.
1998
Small GTP-binding proteins of the Ras and Rho family participate in various important signalling pathways. Large clostridial cytotoxins inactivate GTPases by UDP-glucosylation. Using Clostridium difficile toxin B-10463 (TcdB) for inactivation of Rho proteins (RhoA/Rac/Cdc42) and Clostridium sordellii lethal toxin-1522 (TcsL) for inactivation of Ras-proteins (Ras/Rac/Ral, Rap) the role of these GTPases in protein kinase C (PKC) stimulation was studied. Phorbol-myristate-acetate (PMA) induced a rapid PKC translocation to and activation in the particulate cell fraction as determined by PKC-activity measurements and Western blots for PKC alpha. These effects were blocked by TcdB inhibiting Rho …
The Consequences of Banking Crises for Public Debt
2010
The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and longlasting increase in government debt. The effect is a function of the severity of the crisis. In particular, for severe crises, comparable to the most recent one in terms of output losses, banking crises are followed by a medium-term increase of about 37 percentage points in the government gross debt-to-GDP ratio. In addition, the debt ratio increased more in countries with higher initial gross debt-to-GDP ratio, with a higher share of foreign debt, and with a lower qu…
How to pay for the debt — Coping with the Third World's crisis
1990
The Brady Plan is the first official proposal to give priority to a tangible reduction in the debtor countries' debt service burden and is thus a milestone along the path towards overcoming the international debt crisis. However, the instruments foreseen in the Plan virtually invite criticism and scepticism. What are the main inadequacies of the Brady Plan? How can the international debt strategy be developed further and made more effective?
A wavelet analysis of US fiscal sustainability
2015
Abstract In this paper, we reassess the relationship between primary deficit and lagged debt to GDP ratio (Bohn, 1998), to test for US debt sustainability over the period 1795–2012. Our analysis is rooted in the wavelet domain enabling the detection of interesting patterns and otherwise hidden information. We find evidence of long term fiscal sustainability but only up until 1995 and also we show that governments tend to respond more vigorously to budget deficits when the level of debt is high rather than low.
Fiscal sustainability in the EU: From the short-term risk to the long-term challenge
2015
Abstract The paper analyses fiscal sustainability of public debt using a dynamic computable general equilibrium model. First, we identify the short-term risk for fiscal stress at country level; second, we investigate the assumption of convergence towards the government debt threshold (medium-term challenge); and, third, the requirement that debt projections do not show unsustainable trends (long-term challenge). The empirical implementation includes 18 EU Member States. Our findings show that the constant tax rate that stabilizes the public debt converges to 50 percentage of GDP for all the sample countries and tax revenues are the main driving forces for fiscal sustainability. Also our fin…
Can re-regulation of the financial sector strike back public debt?
2015
This paper analyzes the impact of financial sector policy changes on the dynamics of public debt. Using a panel of 89 countries from 1973 to 2005, we find that while the implementation of (large) financial liberalisation policies significantly raises the public debt growth rate, the adoption of financial re-regulation measures leads to a mild reduction of public debt. Looking at the different typologies of financial sector policy changes, we show that stricter banking supervision, privatisations and restrictions to international capital flows contribute to a fast decline of the growth rate of public debt. In contrast, the removal of entry barriers and the elimination of interest rate contro…
Trade Openness and Income: A Tale of Two Regions
2015
In this article we present evidence of the long-run effect of trade openness on income per worker for two regions that have followed different liberalization strategies, namely Asia and Latin America. A model that re-examines these questions is estimated for two panels of Asian and Latin American countries over the 1980-2008 period using a novel empirical approach that accounts for endogeneity as well as for the time series properties of the variables involved. From an econometric point of view, we apply recent panel cointegration techniques based on factor models that account for two additional elements usually neglected in previous empirical literature: cross-dependence and structural bre…
New Challenges of Economic and Business Development – 2012 : Conference Proceedings (May 10 - 12, 2012, Riga, University of Latvia)
2012
Support for Conference Proceedings by ERAF Project "Support for the international cooperation projects and other international cooperation activities in research and technology at the University of Latvia" No. 2010/0202/2DP/2.1.1.2.0/10/APIA/VIAA/013
Implicit Public Debt Thresholds: An Empirical Exercise for the Case of Spain
2017
We extend previous work that combines the Value at Risk approach with estimation of the correlation pattern of the macroeconomic determinants of public debt dynamics by means of Vector Auto Regressions (VARs). These estimated models are used to compute the probability that the public debt ratio exceeds a given threshold, by means of Monte Carlo simulations. We apply this methodology to Spanish data and compute time-series probabilities to analyse the possible correlation with market risk assessment, measured by the spread over the German bond. Taking into account the high correlation between the probability of crossing a pre-specified debt threshold and the spread, we go a step further and …
Electronic functionality of Gd-bisphthalocyanine: Charge carrier concentration, charge mobility, and influence of local magnetic field
2018
Abstract Gadolinium bisphthalocyanine (GdPc2) has been placed among the highest ranked molecular materials considered namely for modern optoelectronic applications including organic solar cells. To improve understanding of the correlation between GdPc2 magnetic properties and its electronic functionality, we experimentally and theoretically studied charge carrier concentration, charge mobility, and influence of local magnetic field on charge carrier transport. For better clearance, all the main studied properties of GdPc2 bisphthalocyanine were compared with Zn phthalocyanine (ZnPc) as a reference material. Conductivity and charge carrier mobility were measured in materials incorporated in …