Suchergebnisse

Assessing both the macro- and micro-economic levels of the contemporary African Debt Crisis, this book, first published in 1989, begins by looking at the origins of the world debt crisis, and then looks closely at the problem as it affects Sub-Saharan Africa. The effects of debt on Africa's position in international relations are considered, and the roles played by organisations such as the International Monetary Fund and the World Bank are assessed. The authors also examine the local effects in a series of case studies of various states including Nigeria, Ghana and Sierra Leone, the Francopho

We use a controlled laboratory experiment with and without overlapping generations to study the emergence of public debt. Public debt is chosen by popular vote, pays for public goods, and is repaid with general taxes. With a single generation, public debt is accumulated prudently, never leading to over-indebtedness. With multiple generations, public debt is accumulated rapidly as soon as the burden of debt and the risk of over-indebtedness can be shifted to future generations. Debt ceiling mechanisms do not mitigate the debt problem. With overlapping generations, political debt cycles emerge, oscillating with the age of the majority of voters.

This book examines history of Russian finances in the period of Russia's transition from communism to capitalism in the 1990s and in the current decade. It focuses on obstacles to market reforms and macroeconomic policy choices that resulted in the state debt expansion and the financial crisis of 1998.

Front Cover; Developing Country Debt; Copyright Page; Table of Contents; Foreword; Preface; Part I: An Aggregate Analysis of Developing Country Debt; Chapter 1. Historical Perspectives on Developing Nations' Debt; THE EXPERIENCE OF THE UNITED STATES, CANADA, AUSTRALIA AND NEW ZEALAND IN THE ERA BEFORE WORLD WAR I; INTERNATIONAL INDEBTEDNESS IN THE POST-WORLD WAR II ERA; NOTES; Chapter 2: A Quantitative Perspective on the Debt of Developing Countries; THE ENLARGEMENT OF CURRENT SURPLUSES AND DEFICITS SINCE 1973; GROWTH AND MANAGEABILITY OF DEBT.