Governments borrow funds to finance the excess of cash payments or interest payments over receipts, usually by issuing fixed income debt and index-linked debt. The goal of this work is to propose a stochastic optimization-based approach to determine the composition of the portfolio issued over a series of government auctions for the fixed income debt, to minimize the cost of servicing debt whil...

Purpose This study is a pre-COVID-19 exposition of the existing situation about external debt-GDP relationship, incorporating corruption into hypothesis, making South Africa object study. The aim to examine causal relationship between corruption, economic growth and debt, in end proffer solutions problems arising therefrom. Design/methodology/approach employed ARDL technique on time series data...

With currently depressed milk prices, many Michigan dairy operations are struggling to meet current cash flow commitments. This article, the first of a series of articles addressing cash flow problems, examines ways to manage debt. The other articles to follow will explore profitability of the Michigan dairy industry, other methods for improving cash flow (including income tax management), unde...

There is widespread agreement among leading debt management practitioners about the adequacy of debt servicing cash flow simulation technique to estimate the cost and risk of a sovereign liability portfolio. This practice gains a solid theoretical platform when re-cast into an asset liability management (ALM) framework. The issue then becomes how to incorporate the government’s assets into cost...

Supplier relations play an important role in determining a firm’s product market strategy and position, by affecting the cost and quality of the product produced by the firm. These relations are especially significant since the cost of purchased materials for an average firm is more than half its total sales. In this paper, we model the adverse incentives of a firm that sources from a competiti...

a r t i c l e i n f o This paper analyses the impact of financial sector policy changes on the dynamics of public debt. Using a panel of 89 countries from 1973 to 2005, we find that, overall, while the implementation of financial liberalisation policies significantly raises the public debt growth rate, the adoption of financial re-regulation measures does not reduce it in a significant manner. ...