{"title":"Reconciliation Financing: An Innovative Approach to Poverty, Inequality, and Social Conflict","authors":"Daniel Bradlow","doi":"10.2139/ssrn.1488104","DOIUrl":"https://doi.org/10.2139/ssrn.1488104","url":null,"abstract":"This paper focuses on the problem of addressing historical injustices and raising finance for small scale revenue generating projects that benefit those victims of these past injustices who still lack access to jobs, services and opportunities. These projects always experience funding problems. They are considered both \"too rich\" for grant funding because they generate a stream of revenues but \"too poor\" for commercial funding because either they are too small or they generate an insufficient income stream to be attractive to commercial funders. In proposing a debt-based solution to these funding problems, the paper proposes 3 principles of \"reconciliation financing\".","PeriodicalId":192010,"journal":{"name":"ERN: Governmental Loans","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121213692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations","authors":"A. Georgiou","doi":"10.5089/9781451873801.001.A001","DOIUrl":"https://doi.org/10.5089/9781451873801.001.A001","url":null,"abstract":"The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often referred to as bailouts of the lenders. This paper presents a framework where rational economic agents engage in ex ante excessive lending, borrowing, and risk-taking if creditors assign a positive probability to being bailed out. The paper also offers some thoughts on policy implications. It argues that it would be most productive for the long run if lending institutions were not bailed out. If the continuing existence of an institution was deemed essential, assistance should take the form of capital injections that dilute the equity of existing owners.","PeriodicalId":192010,"journal":{"name":"ERN: Governmental Loans","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132565208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Federal Grants, Earmarked Revenues, and Budget Crowd-Out: State Highway Funding","authors":"Todd Nesbit, Steven F. Kreft","doi":"10.1111/j.1540-5850.2009.00930.x","DOIUrl":"https://doi.org/10.1111/j.1540-5850.2009.00930.x","url":null,"abstract":"This paper examines the potential for budget crowd-out in state highway financing. Highway projects are funded primarily through state earmarked tax revenues and federal highway grants. Theoretically, these two sources of revenues could crowd-out state general funds, freeing up these funds for other uses. Previous studies of highway funding show little evidence of significant crowd-out, providing support for the \"flypaper effect.\" The empirical model of this paper better controls for the endogeneity of federal highway grants and state earmarked highway revenues than previous studies and results suggest little to no crowd-out. Also, our study concludes that state budgeting decisions in the post-Intermodal Surface and Transportation Efficiency Act era still support the \"flypaper effect.\"","PeriodicalId":192010,"journal":{"name":"ERN: Governmental Loans","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116521568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Pomoc publiczna dla przedsiębiorstw (State Aid for Enterprises)","authors":"I. Jaźwiński","doi":"10.2139/SSRN.2600405","DOIUrl":"https://doi.org/10.2139/SSRN.2600405","url":null,"abstract":"Polish Abstact: W artykule przedstawiono zagadnienia dotyczące wspierania przedsiebiorstw w polityce gospodarczej, skupiając sie na teoretycznych i praktycznych aspektach pomocy publicznej. Początkowa cześc pracy syntetycznie prezentuje istote pomocy publicznej. W dalszych rozwazaniach duzo uwagi poświecono regulacji pomocy publicznej z uwzglednieniem warunkow polskich i unijnych. Kolejna cześc pracy przybliza formy i rodzaje pomocy publicznej wyodrebnione ze wzgledu na rozne kryteria. W zakonczeniu ujeto ogolne wnioski i zalecenia.English Abstact: In the article there are presented the issues concerning supporting of enterprise in economic policy with a focus on economic and regulation aspects of state aid. Early part of the paper is introducing the essence of state aid. In further deliberations much attention is paid to the state aid regulation with consideration of both Polish and the European Union conditions. In the next part of the paper there are introduced the state aid forms and kinds distinguished in respect of various criteria. In the end, there are found general conclusions and recommendations.","PeriodicalId":192010,"journal":{"name":"ERN: Governmental Loans","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126391461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Allocation of EU Aid Towards ACP-Countries","authors":"S. Wolf, Dominik Spoden","doi":"10.2139/ssrn.3325749","DOIUrl":"https://doi.org/10.2139/ssrn.3325749","url":null,"abstract":"In the renegotiations of the Lome Convention (1998-2000) not only trade issues but also the aid relationship were under review. A major challenge is induced by the EU's proposal of shifting the aid allocation from needs to merit criteria. Our regression analysis shows, however, that EU aid was not primarily allocated according to the needs and performance of the ACP countries in the past, but to other interests of the EU members. If transfers change now under the new agreement from being an entitlement to being subject to performance criteria, agreement on these criteria has to be reached. A fundamental reform of the Stabex system was also agreed on in the new Suva Convention and will change the allocation of EU aid further. It has proven impossible to support agricultural producers and encourage diversification with the same instrument. To reach the latter goal support for the private sector should be enhanced. Therefore it is also important to analyse further how the allocation and use of aid may increase productive investment.","PeriodicalId":192010,"journal":{"name":"ERN: Governmental Loans","volume":"65 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121325394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}