منابع مشابه
Food aid and governance
Arguing that food security management belongs to the core of government tasks and has been since Biblical times, we assess current practices in this domain and their effect on local governance, with special reference to the food aid operations of the World Food Program. Within the food security management task, we distinguish three basic elements: (i) entitlement: to provide income entitlements...
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What happens if HIPC debt relief resources are not additional? We seek to answer this question by quantifying the impact of debt service payments and aid flows in crosscountry growth and investment regressions. Based on the regressions we assess the likely impact of debt relief with and without changes in the aid flows. The result is that one-for-one changes in debt service payments and officia...
متن کاملOptimal external debt and default
This paper analyses whether sovereign default episodes can be seen as contingencies of optimal international lending contracts. The model considers a small open economy with capital accumulation and without commitment to repay debt. Taking first order approximations of Bellman equations, I derive analytical expressions for the equilibrium level of debt and the optimal debt contract. In this env...
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Countries need short, medium, and long-term investment plans for production growth and development. Different sources for these investments can be supplied through retained profit, stock issuance, and bank loans, or a combination them. Institutions and firms need huge amount of capitals for their survival, production, and also development of activities. In addition, these institutions and firms...
متن کاملThe effect of external governance on the choice between bank loans and public debt
This paper examines how external governance pressure provided by both the product market and the market for corporate control affects a borrowing firm’s choice of debt source. Using reductions in import tariffs to capture exogenous changes in a firm’s competitive environment, we find that increased product market competition has a significant negative impact on a firm’s reliance on bank debt fi...
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2014
ISSN: 0264-9993
DOI: 10.1016/j.econmod.2013.08.045