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Debt Relief, Additionality, and Aid Allocation in Low-Income Countries 低收入国家的债务减免、附加性和援助分配
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 2003-09-01 DOI: 10.5089/9781451858778.001.A001
R. Powell
{"title":"Debt Relief, Additionality, and Aid Allocation in Low-Income Countries","authors":"R. Powell","doi":"10.5089/9781451858778.001.A001","DOIUrl":"https://doi.org/10.5089/9781451858778.001.A001","url":null,"abstract":"This paper models the resource implications of debt relief provided to low-income countries (LICs). Obtaining debt relief does not necessarily lead to individual aid-dependent countries receiving more overall resources from the donor community. Preliminary cross-section estimates suggest that debt relief provided to low-income countries in the period 1996-2000 neither crowded out other non-debt relief-related aid flows to the debtors concerned nor created significant extra net resources for those countries. While it is too early to fully assess the resource implications of the enhanced HIPC Initiative, this paper provides a possible approach to such an evaluation.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123692946","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}
引用次数: 31
From Program to Performance Budgeting The Challenge for Emerging Market Economies 从项目预算到绩效预算:新兴市场经济体面临的挑战
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 2003-06-01 DOI: 10.2139/ssrn.880208
J. Diamond
{"title":"From Program to Performance Budgeting The Challenge for Emerging Market Economies","authors":"J. Diamond","doi":"10.2139/ssrn.880208","DOIUrl":"https://doi.org/10.2139/ssrn.880208","url":null,"abstract":"Many emerging market economies are trying to improve their budget processes and move to performance-based budgeting. This paper first reviews the evolution of the \"new\" performance budgeting model, increasingly being applied in industrial countries. By identifying its main components, the tasks faced by emerging market economies when converting their present budget systems to this model are determined. It is recognized that this conversion will not be easy and wall require four major reform elements. First, any existing program structure must be set in the wider context of strategic budget planning and medium-term budget frameworks. Second, this typically involves redesigning and refining existing program structures. Third, existing budget-costing systems and associated skills will probably need to be improved. Fourth, and perhaps most difficult, a new system of accountability and budget incentives needs to be introduced. For emerging market economies, these should be viewed as the prerequisites for a successful introduction of the new performance-budgeting model.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115817712","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}
引用次数: 26
Do Monetary and Non-Monetary Indicators Tell the Same Story About Chronic Poverty? A Study of Vietnam in the 1990s 货币和非货币指标对长期贫困的反映是一样的吗?九十年代的越南研究
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 2002-07-01 DOI: 10.2139/ssrn.1754461
B. Baulch, Edoardo Massett
{"title":"Do Monetary and Non-Monetary Indicators Tell the Same Story About Chronic Poverty? A Study of Vietnam in the 1990s","authors":"B. Baulch, Edoardo Massett","doi":"10.2139/ssrn.1754461","DOIUrl":"https://doi.org/10.2139/ssrn.1754461","url":null,"abstract":"This paper investigates whether monetary and nonmonetary indicators tell the same story about chronic poverty using a unique panel data from Vietnam in the 1990s. Defining chronic poverty as occurring when an individual is monetarily poor, stunted, malnourished or out of school in both waves of the panel, the overlap and correlation between subgroups of the chronically poor are shown to be modest. Some, but not all, nonmonetary indicators are more persistent and complement monetary indicators of chronic poverty. Taking account of the multiple dimensions of chronic poverty cannot be a simple additive exercise.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129452684","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}
引用次数: 225
A Non-Linear Currency Substitution Model of Hysteresis in Debt and Competitiveness 债务滞后与竞争力的非线性货币替代模型
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 2002-03-01 DOI: 10.2139/ssrn.942309
Şaziye Gaziog̃lu, W. McCausland
{"title":"A Non-Linear Currency Substitution Model of Hysteresis in Debt and Competitiveness","authors":"Şaziye Gaziog̃lu, W. McCausland","doi":"10.2139/ssrn.942309","DOIUrl":"https://doi.org/10.2139/ssrn.942309","url":null,"abstract":"The model has four assets: domestic and foreign money and bonds. It is a two country macro model, with debt defined in terms of the net asset holdings of the domestic country. Asset flows between the domestic and foreign country are driven by the interaction between the current and capital account. Both the assets and goods markets are non-linear: the non-linearities in international debt create the possibility of multiple debt and competitiveness equilibria. The paper shows that domestic and foreign monetary policy, as well as trade shocks, can not only lead to irreversibility of international debt, but also of international competitiveness. This allows us to shed some light on the causes leading to 'debt traps' faced by newly industrialised and less developed countries, the so called 'Dutch disease' in countries with new resource discoveries, and the persistent effects on trade and competitiveness with capital controls and project linked lending.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115557617","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}
引用次数: 7
Sovereign Debt: A Survey of Some Theoretical and Policy Issues 主权债务:若干理论与政策问题综述
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 1993-07-01 DOI: 10.5089/9781451968170.001
Vivek B. Arora
{"title":"Sovereign Debt: A Survey of Some Theoretical and Policy Issues","authors":"Vivek B. Arora","doi":"10.5089/9781451968170.001","DOIUrl":"https://doi.org/10.5089/9781451968170.001","url":null,"abstract":"This paper surveys the literature on sovereign debt that deals with the issues of a country`s ability-to-pay, its willingness-to-pay, and the policy responses to the debt crisis of the 1980s. The existence of an ability-to-pay problem suggests a need for debt reduction, but plans for debt relief face potential incentive problems, and sovereign debt repurchases are not always a welfare maximizing method of debt restructuring. The paper synthesizes the main conclusions on these issues. With a willingness-to-pay problem, the potential penalties for debt repudiation are important in the endogenous determination of the repayment outcome. Penalties that are intertemporal in nature have different implications for debt repudiation than do intratemporal penalties. In addition, the asymmetric distribution of the costs of default can lead to a recurrent cycle of debt accumulation and default.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1993-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125239199","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}
引用次数: 5
Dependency Rates and Private Savings Behavior in Developing Countries 发展中国家的抚养率和私人储蓄行为
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 1988-01-28 DOI: 10.2307/3867173
N. Rossi
{"title":"Dependency Rates and Private Savings Behavior in Developing Countries","authors":"N. Rossi","doi":"10.2307/3867173","DOIUrl":"https://doi.org/10.2307/3867173","url":null,"abstract":"Empirical results establishing a firm empirical relationship between dependency rates and savings behavior in developing countries are still lacking. Two demographic extensions of the representative household's stochastic dynamic optimization problem are presented. The relationship between expected dependency rates and consumption growth is shown to depend on two parameters: demographically varying committed consumption and the intertemporal elasticity of substitution. Thus, the expected path of demographic variables can provide information on consumer willingness to smooth consumption, and on the savings responsiveness to changes in the real interest rate.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1988-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125278595","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}
引用次数: 38
Corporate Performance in Nigeria: The Effect of Oil Price and Exchange Rate Fluctuations 尼日利亚公司绩效:油价和汇率波动的影响
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 1900-01-01 DOI: 10.32479/ijefi.8829
Osaretin Kayode Omoregie, S. Olofin
{"title":"Corporate Performance in Nigeria: The Effect of Oil Price and Exchange Rate Fluctuations","authors":"Osaretin Kayode Omoregie, S. Olofin","doi":"10.32479/ijefi.8829","DOIUrl":"https://doi.org/10.32479/ijefi.8829","url":null,"abstract":"Discussions on the separate effect of oil price and exchange rate fluctuations on economic activity and corporate performance in Nigeria are inconclusive. This study investigates the simultaneous influence of oil price and exchange rate and the impact of the different exchange rate regimes adopted in Nigeria on corporate performance, using the Structural-VAR / Historical Decomposition framework. The literature in these areas is sparse. Result from this study suggests that oil price shocks have negative influence on corporate performance with a very short-term positive influence. Exchange rate shocks have positive impact on corporate performance with an instantaneous negative effect. Also, fixed exchange regimes are associated with a downturn in corporate performance, while flexible regimes are associated with improved corporate performance. This result support diversification and flexible exchange rate policies, while corporate managers should adopt risk-hedging strategies to cushion the adverse combined effect of oil price and exchange rate shocks.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"85 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116414354","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}
引用次数: 0
Banking Crises in Emerging Economies: Origins and Policy Options 新兴经济体的银行危机:起源与政策选择
ERN: Fiscal & Monetary Policy in Developing Economies (Topic) Pub Date : 1900-01-01 DOI: 10.2139/ssrn.52074
M. Goldstein, Philip Turner
{"title":"Banking Crises in Emerging Economies: Origins and Policy Options","authors":"M. Goldstein, Philip Turner","doi":"10.2139/ssrn.52074","DOIUrl":"https://doi.org/10.2139/ssrn.52074","url":null,"abstract":"This paper looks at banking crises in the developing world. It discusses eight major types of cause, including both macroeconomic and supervisory factors. It discusses policy options, drawing on actual experience in developing and developed economies. Contains international statistical comparisons.","PeriodicalId":247622,"journal":{"name":"ERN: Fiscal & Monetary Policy in Developing Economies (Topic)","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122601168","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}
引用次数: 388
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