Abstract China's Belt and Road Initiative (BRI) is a mechanism through which countries can upgrade connectivity-related infrastructure, including cross-border projects, complementing traditional sources of finance. An overarching goal the BRI to reduce trade costs between China partner countries, in part by helping integrate regional markets. The large-scale borrowing associated with projects h...

a r t i c l e i n f o Keywords: Estimation of term structure of interest rate Financial reforms Latent factor extraction Level Monetary policy Yield curve movements The article identifies principal reasons underlying the movements of yield curve for government debt market in India for the period Jul '97 to Dec '11. The study finds that though statistically Svensson's (SV) (1994) model outperfor...

Abstract In response to the recession brought about by COVID-19 pandemic, EU-wide macroeconomic policy has launched an unprecedented coordinated fiscal expansion across EU (Next Generation or NGEU), financed issuing common debt. Given NGEU’s nature, it is essential take spillovers into consideration when assessing overall effects of this expansion. We quantify additional public investment for a...

the debt is one of the principal component of accounting equation and capital structure of most companies. during last fifteen years the usage trend of debt was increasingly improved in companies' eps. american ones. in this research we tried to answer the following question: is there any meaningful relation between debt ratio and return on assets (roa) in sec of tehran and its industries?...

This article reviews the origin and spread of the distressed debt problem in the transition region. We argue that while the crisis was triggered abroad, the current high level of distressed debt in various transition countries mainly reflects home-grown vulnerabilities. As in the West, the root causes of the debt problem were abundant and cheap funding and a gradual relaxation of banks’ lending...

This thesis consists of three empirical essays in financial economics, examining the consequences of imperfect financial markets for households, small business and house prices. In the first chapter (co-authored with Meta Brown and Brandi Coates) we explore the effect of personal bankruptcy laws on household debt. Personal bankruptcy laws in the US, and many other countries, protect a fraction ...

Increasingly common methods for financing public infrastructure in developing economies are Resources-for-Infrastructure (R4I) and Resource-Financed Infrastructure (RFI), usually involving Chinese financial institutions construction companies. Although there advantages to the borrowing country from these project arrangements, also various issues governance challenges. In Uganda, expectations ar...

This paper stems from a recent heated debate on the relationship between the price level and scal policy. While the relationship between in ation, government de cits and debt has a long tradition in macroeconomics, a recent string of papers has put a new twist on it by proposing a \ scal theory of the price level", which shows that the government can target directly the price level by using sca...

Evidence has been mounting (over the centuries) that the interest based debt financing regime is under ever increasing distress. All of the earlier crises whatever label they carried− exchange rate crisis or banking crisis – have been debt crises in essence. At the present, empirical research suggests that the debt-to-GDP ratio of the richest members of the G-20 threatens to touch 120% m...