Suchergebnisse

International debt rescheduling, both in earlier epochs and our present one, has been marked by a flurry of bargaining. In this process, significant variation has emerged over time and across cases in the extent to which debtors have undertaken economic adjustment, banks or bondholders have written down debts, and creditor governments and international organizations have intervened in negotiations. Debt Games develops and applies a situational theory of bargaining to analyze the adjustment undertaken by debtors and the concessions provided by lenders in international debt rescheduling. This approach has two components: a focus on each actor's individual situation, defined by its political and economic bargaining resources, and a complementary focus on changes in their position. The model proves successful in accounting for bargaining outcomes in eighty-four percent of the sixty-one cases, which include all instances of Peruvian and Mexican debt rescheduling over the last one hundred and seventy years as well as Argentine and Brazilian rescheduling between 1982 and 1994

The Definition of Debt Management : Fiscal deficits have become much larger and more widespread than they were. The budget deficit dominates economic policy discussion in the mid - 1980's. Today, there is not a country whether developed or developing without a fiscal defict (In east Eurepean Countries also). Debt is a major government revenue source these days and borrwing is an alternative to*taxation in the short run. But the consequences of government borrowing are different at home and abroad. Because the two forms of finance have different characteristics. There is also another difference of finance for developed and developing countries

A topic of some current interest to forecasters and policymakers is the extent to which the high levels of corporate indebtedness observed throughout the late-1980s contributed to the recession and whether the still substantial debts of the corporate sector are likely to make the recovery from recession slower than normal. The purpose of this note is to present and provide an interpretation of the evidence bearing on this issue.