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Journal articles on the topic 'Debt risks'

Author: Grafiati

Published: 28 May 2022

Last updated: 31 July 2025

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1

Ivlev, V. A. "Problem Debt: Concept, Classification and Regulation." Courier of Kutafin Moscow State Law University (MSAL)) 1, no. 9 (2024): 203–11. http://dx.doi.org/10.17803/2311-5998.2024.121.9.203-211.

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The article is devoted to the analysis of the concept and legal regulation of problem debts arising as a result of improper fulfillment of obligations by clients of credit institutions. In the process of analysing the types of problem debts, special attention is paid to the correlation of problem and overdue debts. Any overdue debt should be as problematic. Other debts may also be recognised as problematic if there are significant risks of default. The author comes to the conclusion that the issues of qualification of problem debts are within the competence of credit organisations. Government

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Raffer, Kunibert. "Risks of Lending and Liability of Lenders." Ethics & International Affairs 21, no. 1 (2007): 85–106. http://dx.doi.org/10.1111/j.1747-7093.2007.00062.x.

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Risk and liability change the initially stipulated terms of contracts, overruling their otherwise binding nature. Risk encourages careful assessment of debtors' abilities to service debts. Errors and negligence in assessment, and even external shocks, make creditors suffer losses. Disregarding one's duty of care or professional standards, or engaging in tortious or illegal behavior makes actors liable to compensate for any resulting damage—a necessary systemic element of the framework markets need to function well. Neither mechanism was allowed to work properly in sovereign lending.This essay

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Tsvirko, S. E. "PROBLEMS OF PUBLIC DEBT MANAGEMENT SYSTEM IN RUSSIA." Strategic decisions and risk management, no. 6 (October 25, 2014): 56–63. http://dx.doi.org/10.17747/2078-8886-2013-6-56-63.

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The problems of the Russia’s debt management are revealed. Evolution of the public debts’ problem of the Russian Federation including the question of its interaction with private debts is discussed. Risks in debt sphere are analyzed. Specific features of the Russian economy such as the dependence on world energy prices, low efficiency of public expenditures, rapid growth of internal public debts and external quasi-sovereign and private debts are defined. Principles of debt management and areas of improvement in the system of Russia’s debt management were defined.

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Foley-Fisher, Nathan. "Maturing Debt and Default Risks." National Institute Economic Review 211 (January 2010): F63—F64. http://dx.doi.org/10.1177/0027950110364096.

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The old trend of ever smaller amounts of government debt maturing and being retired gracefully is passing. In its place, a boom in issuance as a consequence of the recent crisis will lead to a youthful increase in the amount of maturing debt that requires settlement. The UK has the advantage, relative to some other countries in the Euro Area, of being able to issue longer-term debt (see figure 1), which helps avoid the so-called ‘roll over’ risk associated with maturing debt. By contrast, the long period of surpluses run by the Spanish government caused them to obtain over 75 per cent of recen

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Feng, Xingyuan. "Local Government Debt and Municipal Bonds in China: Problems and a Framework of Rules." Copenhagen Journal of Asian Studies 31, no. 2 (2014): 23–53. http://dx.doi.org/10.22439/cjas.v31i2.4332.

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Local governments in China are facing heavy debt burdens, a low level of fiscal transparency and a lack of constraints by local democracy. Since 2008, local government debts have skyrocketed. This article analyses the current state and features of local government debts and the two kinds of 'quasi municipal bonds' in China—urban investment bonds and local government bonds—along with their problems and risks. It examines the risks connected with local government debts and these bonds from the perspectives of public finance and political economy. It concludes with a discussion of a framework of

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Koblyk, Ihor. "Systematization and assessment of the risks of ensuring the debt sustainability of territorial communities." Economic Analysis, no. 34(3) (2024): 322–33. https://doi.org/10.35774/econa2024.03.322.

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Introduction. The article considers the problem of ensuring the debt sustainability of territorial communities, which is relevant in the context of the growth of financial obligations and risks that arise in the process of borrowing. Ensuring an adequate level of debt sustainability is an important task for local authorities, as debt obligations have a direct impact on the financial stability of communities and their ability to perform socio-economic functions. In order to avoid financial crises and ensure effective management of local debt, it is necessary to clearly define and assess the ris

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Zhang, Can. "Research on the Causes, Risks, and Countermeasures of Local Debt Problems." Advances in Economics, Management and Political Sciences 140, no. 1 (2024): 148–54. https://doi.org/10.54254/2754-1169/2024.ga18559.

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This study aims to explore the causes, risks, and corresponding risk response strategies of local government debt problems. In the case analysis, the scale of local debt in Ningbo is taken as the specific research object. Although local governments use debt financing for infrastructure construction to promote economic growth in the short term, it also brings potential debt risks. By analyzing the scale of local debt and governance policies in Ningbo, this paper finds that Ningbo is relatively reasonable in debt management and its debt risks are generally controllable. Ningbo has successfully p

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LUBKEY, Nadiia. "DISCUSSION QUESTIONS OF ESSENCE OFTHE PUBLIC DEBT RISKS AND PROBLEMS OF THEIR EVALUATION IN UKRAINE." WORLD OF FINANCE, no. 4(53) (2017): 121–31. http://dx.doi.org/10.35774/sf2017.04.121.

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Introduction. The significant and constantly increasing volume of public debt of Ukraine, its irrational structure, inefficient use of borrowed government loans lead to growth of debt risks and decrease of the state debt sustainability. For a successful debt management we need to apply effective risk management ofpublic debt. Purpose. The aim of this research is to clarify the essence of the public debt risk; to analyze the methodological approaches to their evaluation; to determine the main directions for the risk management of public debt, as well as the ways to improve the current methodolo

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Kirichenko, Elina Vsevolodovna. "Growing budget deficit and national debt: estimates, problems, risks." Mezhdunarodnaja jekonomika (The World Economics), no. 11 (November 19, 2021): 812–25. http://dx.doi.org/10.33920/vne-04-2111-01.

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The article analyzes the structure of the US federal budget, the main sources of revenues, expenditures (annually revised discretionary spendings, mandatory financing of the main social and a number of critical areas of government activity, interest debt payments), factors affecting their dynamics. A special place is occupied by the analysis of the national (sovereign) debt of the United States, which includes two types of debt: the government’s debt to buyers of its securities (American individuals and legal entities, the Federal Reserve System, international investors, foreign governments) a

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Zhang, Lihua, Rui Han, Juanfeng Zhang, Lele Li, and Danxia Zhang. "LAND-LEASING BEHAVIOR, LOCAL OFFICIALS’ PROMOTIONS, AND CHINESE CITIES’ DEBT RISKS." International Journal of Strategic Property Management 25, no. 6 (2021): 485–96. http://dx.doi.org/10.3846/ijspm.2021.15654.

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This study first analyzes how local governments’ land-leasing behaviors affect Chinese cities’ debt risk then examines the impact of officials’ promotion mechanisms on debt risk in China’s urban land bank system. The land-leasing behavior is reflected through three indicators, namely, land-leasing revenue, land-leasing scale, and land financial dependence level. Two new indicators are constructed to measure the local government’ debt risk from the perspective of debt scale and debt repayment: the debt scale risk and debt burden risk. Empirical analyses are based on the data of 281 prefecture-l

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Cai, Fang, and Sharjil Haque. "Private Credit: Characteristics and Risks." FEDS Notes, no. 2024-02-23-2 (February 2024): None. http://dx.doi.org/10.17016/2380-7172.3462.

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Private credit or private debt investments are debt-like, non-publicly traded instruments provided by non-bank entities, such as private credit funds or business development companies (BDCs), to fund private businesses. Private credit is typically extended to middle-market firms with annual revenues between $10 million and $1 billion, but has grown rapidly in recent years to fund larger companies that were traditionally funded by leveraged loans.

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Shneiderman, I. M., and A. V. Yarasheva. "Population Borrowing Behavior: Trends and Risks." Voprosy statistiki 26, no. 3 (2019): 15–22. http://dx.doi.org/10.34023/2313-6383-2019-26-3-15-22.

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The article deals with current issues related to modern processes of lending to the population in Russia. The article aims to identify possible risks and consequences of over-lending to individuals based on the analysis of statistical data. Research objectives include analysing data dynamics of volume of the issued housing loans for the past 13 years, including mortgage loans; tracing the dynamics of household debt (total and for this type of lending) in rubles and foreign currency in macro-regions (Federal districts) of the Russian Federation; and describing the features and trends of car loa

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Tsvirko, Svetlana. "Public debt from the viewpoint of national security and sovereignty." Journal of Digital Art & Humanities 4, no. 2 (2023): 37–51. http://dx.doi.org/10.33847/2712-8149.4.2_5.

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The paper examines public debt from the viewpoint of national security and sovereignty. The current situation with public debts in different types of countries is revealed. The risks, challenges and threats in the public debt sphere are presented. Different forms of public borrowings, such as loans from international organizations and banks, issuance of the securities on the domestic and international markets were analyzed. It was shown, that the international credits are characterized by the conditionality. In the case of borrowing on the open market using securities, the debtor depends on th

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Furceri, Davide, Domenico Giannone, Faizaan Kisat, Waikei Lam, and Hongchi Li. "Debt-at-Risk." IMF Working Papers 2025, no. 086 (2025): 1. https://doi.org/10.5089/9798229010122.001.

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This paper proposes a novel framework for analyzing the risks surrounding the public debt outlook, the “Debt-at-Risk.” It employs a quantile panel regression framework to assess how current macrofinancial and political conditions impact the entire spectrum of possible future debt outcomes. Many of these factors—including financial conditions and economic variables such as initial debt and GDP growth—predict both the expected level and the uncertainty of future debt, implying pronounced variations in risks, especially in the upper tail of the distribution. By combining the roles of these factor

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Koblyk, Ihor I. "Assessing the Debt Sustainability of Territorial Communities in Ukraine." Business Inform 9, no. 548 (2023): 221–26. http://dx.doi.org/10.32983/2222-4459-2023-9-221-226.

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The article examines the essence of debt sustainability of territorial communities. The main factors of influence on ensuring the debt sustainability of territorial communities are considered, among which are: financial support for the functioning of local self-government bodies; infrastructure development; social protection of the community’s population; confidence on the part of investors. The conditions that ensure the debt sustainability of the local budget are defined as follows: rational financial planning; effective cost management; rational management of debt obligations; stability of

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Ábel, István, and Ádám Kóbor. "Macroeconomic Components of the Risks to Fiscal Sustainability in Hungary." Risks 10, no. 11 (2022): 201. http://dx.doi.org/10.3390/risks10110201.

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Introducing uncertainty under fiscal sustainability conditions for the public debt provides a framework for analyzing debt dynamics. Such methods are commonly used for fiscal projections, but our aim here is retrospective; we evaluate the sudden jump in the Hungarian public debt following the global financial crisis in 2008. Based on a traditional debt-deficit stock-flow identity combining the fiscal component (primary deficit) and the interactions among real sector components, we model the debt dynamics by a vector error correction model (VECM). Uncertainty is represented in the model by shoc

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LAM, WAIKEI RAPHAEL, and KIICHI TOKUOKA. "ASSESSING THE RISKS TO THE JAPANESE GOVERNMENT BOND MARKET." Journal of International Commerce, Economics and Policy 04, no. 01 (2013): 1350002. http://dx.doi.org/10.1142/s1793993313500026.

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Despite the rise in public debt, Japanese Government Bond (JGB) yields have remained low and stable, supported by steady inflows from household and corporate sectors, high domestic ownership of JGBs, and safe-haven flows in light of ongoing European debt crisis. Nonetheless, the market capacity to absorb new government debt will likely decline over time as the population ages, posing risks for the JGB market. This paper examines the key risks of the JGB market, including a decline of private sector savings and potential spillovers from global financial distress, which could push up the governm

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Zhao, Yinglan, Yi Li, Chen Feng, Chi Gong, and Hongru Tan. "Early Warning of Systemic Financial Risk of Local Government Implicit Debt Based on BP Neural Network Model." Systems 10, no. 6 (2022): 207. http://dx.doi.org/10.3390/systems10060207.

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In recent years, local governments have boosted their local economies by raising large amounts of debt. Even though the state further strictly controls local government debt, the hidden debt formed by the local government borrowing in disguised form can infect systemic financial risks, creating an urgent need to carry out risk warning based on local government hidden debt. The paper uses the macro indicators of local government implicit debt risk at the prefecture-level city level, and introduces the micro indicators of PPP projects, financing platform bank debt, and urban investment debt to e

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Yarasheva, Aziza, Natalia Alikperova, and Dmitry Markov. "Features of credit behavior of Russian youth: trends and risks." Population 26, no. 3 (2023): 170–82. http://dx.doi.org/10.19181/population.2023.26.3.14.

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The article discusses the current aspects of the credit behavior of Russians, including changes in the volume of borrowings over the past 4 years, as well as the dynamics of indebtedness, including overdue loans. Based on the results of the author’s sociological research (two measurements — in 2022 and 2023), the features of active actions and attitudes of young people in the field of debt behavior are identified. The analysis showed strengthening of the vector on the willingness to involve this age group of the population in credit practices. There was carried out a comparison of the attitude

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Kheyfets, B. "A new wave of the global debt crisis: the risks increase." Voprosy Ekonomiki, no. 12 (December 20, 2017): 81–95. http://dx.doi.org/10.32609/0042-8736-2017-12-81-95.

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Unlike the formally overcome global financial and economic crisis, which began in 2008, the global debt crisis, having passed an acute phase, continues. The article shows the features of the current global debt crisis and analyzes the main trends of its manifestation. The problems of the largest regions and countries with high debt burden - the EU, the USA, Japan, and China - are considered in detail. The main strategies worked out to overcome the current debt crisis have been singled out, and their positive and negative sides for stable economic growth have been assessed. The emerging prerequ

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Kivisi, Felister Saliku. "AFRICA’S SOVEREIGN BOND DEBTS: ALTERNATIVE TO DEAD AID AND CATALYST FOR DEVELOPMENT." American Journal of International Relations 4, no. 1 (2019): 1–16. http://dx.doi.org/10.47672/ajir.377.

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Purpose: The study sought to examine viability of sovereign bond debts, the alternative to foreign aid, which Dambisa Moyo calls ‘Dead Aid’, for financing economic development in Africa.Methodology: The research is a desk research via the qualitative methodology where information was derived from published scholarly works of various authors on the issue of aid, debt and development of African countries.Findings: The study shows that several African countries, such as Angola, Kenya, Zambia, Côte d’Ivoire, Senegal and Gabon have ventured into international capital markets and accessed the sovere

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Li, Xing, Xiangyu Ge, Wei Fan, and Hao Zheng. "Research on Spatial Correlation Characteristics and Their Spatial Spillover Effect of Local Government Debt Risks in China." Sustainability 13, no. 5 (2021): 2687. http://dx.doi.org/10.3390/su13052687.

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Scholars have proposed a series of methods, such as “sustainability of local government debt”, to measure local government debt risks. However, these methods have caused a lot of controversy. Based on a macro balance sheet, this study uses an improved “distance to distress” to measure China’s local government debt risks and applies a social network model to identify the spatial correlation characteristics, as well as the spillover effect. The results are as follows: (1) The data show multiple and heterogeneous spatial correlations for China’s local government debt risks; (2) there are some sim

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Kozynets, I. H., and V. V. Kot. "UKRAINE’S PUBLIC DEBT: CURRENT SITUATION AND RISKS." Juridical scientific and electronic journal, no. 11 (2021): 433–36. http://dx.doi.org/10.32782/2524-0374/2021-11/110.

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Kuznetsov, A. V., and S. A. Morozov. "Latin America Debt Market: Sources of Risks." Outlines of global transformations: politics, economics, law 13, no. 6 (2020): 161–80. http://dx.doi.org/10.23932/2542-0240-2020-13-6-9.

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van Ooijen, Raun, and Maarten C. J. van Rooij. "Mortgage risks, debt literacy and financial advice." Journal of Banking & Finance 72 (November 2016): 201–17. http://dx.doi.org/10.1016/j.jbankfin.2016.05.001.

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Kirichenko, Elina. "Consolidated Debts of the U.S. non-financial sector: Post-pandemic Estimates." Russia and America in the 21st Century, no. 6 (2022): 0. http://dx.doi.org/10.18254/s207054760023472-6.

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The purpose of the article is to study the trends, problems and risks of consolidated domestic debts of the US non-financial sector at the present stage. The problems of budgets of different levels are considered: the federal budget, state budgets, the influence of the “pandemic” crisis on their income and expenses. In the framework of the analysis of the debts of the US non-financial sector the national (sovereign) debt of the United States, the aggregated debts of states and municipalities are singled out, and the heterogeneity of their financial situation is studied. The debt problems of th

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Riabushka, Liudmyla B., and Daniil A. Zenikov. "Fiscal Regulation of Public Debt under Martial Law: Risks and Prospects for Ukraine." Business Inform 12, no. 563 (2024): 255–63. https://doi.org/10.32983/2222-4459-2024-12-255-263.

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The article considers the issue of fiscal regulation of the public debt of Ukraine under martial law. The aim of the study is to systematize the theoretical foundations and practical approaches to the fiscal regulation of public debt, assessing debt risks and determining the prospects for the development of public debt management under martial law. The theoretical foundations of public debt management on the basis of the conception of fiscal space are deepened: the essence of public debt management is graphically presented, the special role of fiscal space in the regulation of public debt is r

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Ashot, Matevosyan, and Grigoryan Ani. "Assessment of the analysis of the sustainability of the RA public debt according to the MAC DSA methodology of the International Monetary Fund." ADVANCE RESEARCH JOURNAL OF MULTIDISCIPLINARY DISCOVERIES 68, no. 1 (2022): 01–09. https://doi.org/10.5281/zenodo.6237359.

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Sustainability of the public debt is a necessary condition for macroeconomic stability and long-term economic growth. However, in order to be sustainable, the government must service the debt without declaring insolvency, renegotiating the terms of the debt or restructuring the debt, as well as without introducing unrealistic big pressure into economic policy. Regardless of the debt and the burden of its servicing, over the past decade, the RA Government has managed to service the public debt of the RA on time and in full. However, this circumstance is not enough for full-fledge

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KUDRYASHOV, Vasyl. "IMPERATIVES AND RISKS OF THE STATE BORROWINGS’ ACCUMULATION." Economy of Ukraine 2018, no. 6 (2018): 26–43. http://dx.doi.org/10.15407/economyukr.2018.06.026.

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Analysis of dynamics of indicators of the state and the state-guaranteed debt in Ukraine in recent years is carried out and imperatives of the growth of public debt are determined. It is found out that its primary factors were the expansion of financing of the state budget for budget support of the state sector of economy, banking system, as well as the financing of the budget deficit. It is concluded that the solving of such tasks was carried out under conditions of aggravation of financial risks, namely: revenue mobilization, attraction of an additional resource for the purpose of financing

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Tran, Nguyen H., Jordan Mason, Wendy Hanson, Kimberly Steinbert, Minji Lee, and Robert McWilliams. "Abstract 7094: Financial risks in southeast asian patients with cancer." Cancer Research 85, no. 8_Supplement_1 (2025): 7094. https://doi.org/10.1158/1538-7445.am2025-7094.

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Abstract Background: Financial toxicity can have devastating long-term effects for cancer patients (pts) and their family members which may impact their access to care, adherence and, ultimately, outcomes. Identifying those at greatest risk is key to mitigating costs and distress to pts. Here we report results from a screening questionnaire on financial risks among Southeast Asian (SE-A) pts. Methods: This retrospective review included pts on the cancer patient registry at Mayo Clinic (Arizona, Florida, Minnesota, Wisconsin, and Iowa) who had completed a clinical visit in an oncology-related d

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Kuncoro, Haryo. "THE SUSTAINABILITY OF STATE BUDGET IN DEBT REPAYMENT." Buletin Ekonomi Moneter dan Perbankan 13, no. 4 (2011): 415–34. http://dx.doi.org/10.21098/bemp.v13i4.400.

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This paper is designed to analyze the sustainability of the central government budget in the case of Indonesia over the period of 1999-2009. First, we explore the theoretical background of the fiscal sustainability. Second, we develop a model to capture some factors determining the fiscal sustainability. Unlike the previous studies, we use both domestic debt and foreign debt to assess the fiscal solvency. Finally, we estimate it empirically. Based on the quarterly data analysis, we concluded that the government budget is unsustainable. This is associated with domestic debt rather than foreign

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Firsanova, Violetta O. "Cluster Analysis of Debt Indicators of the Countries of the Global South." Business Inform 10, no. 561 (2024): 41–54. https://doi.org/10.32983/2222-4459-2024-10-41-54.

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The topic of this study is relevant in the context of the growing indebtedness of the countries of the Global South as having the largest population in the world and being in a system crisis. The aim of this article is to study the levels of risk of debt pressure by debt indicators of the countries of the Global South. As a result of the study, two groups of clusters were identified using the Statgraphics Centurion statistical package according to these indicators and the associated risks. The first group is composed on the basis of the methodology of the Institute of International Finance, th

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Pyoko, Oliver Mukweyi. "Effect of Firm Size and Profitability on Long Term Debt of Firms Listed at the Nairobi Securities Exchange, Kenya." Asian Journal of Probability and Statistics 26, no. 2 (2024): 84–90. http://dx.doi.org/10.9734/ajpas/2024/v26i2594.

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Organization expenses result from a company’s utilization of long-term debt in its capital structure. One can also characterize a firm’s size by looking at its assets. In order for a company to draw in investors, its worth increases with its size. The profitability of a business may be enhanced by including long-term obligations in its structure of capital since the interest paid on such debts is deduction for taxes. Therefore, this study aimed at examining the effect of firm size and profitability on long term debt of listed firms at the Nairobi Securities Exchange. The study was based on tra

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Lasha, Kelikhashvili. "Challenges in the Government Debt Portfolio Affecting the Fiscal Sustainability Stance in Georgia." Challenges in the Government Debt Portfolio Affecting the Fiscal Sustainability Stance in Georgia 8, no. 12 (2023): 6. https://doi.org/10.5281/zenodo.10401029.

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For supporting fiscal sustainability, which affects general economic conditions, including economic growth, a detailed examination of debt-related indicators is crucial. In this paper, an in-depth investigation of the risk factors is done regarding Georgia’s government debt. Particularly, there are risks associated with currency devaluation, refinancing (liquidity), interest rates, and unproductive spending. According to the research, there are some challenges that need to be addressed by policymakers. It should be mentioned that the challenges exist despite the relatively low level of g

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Islam, Rafaqat, Sarfraz Hussain Ansari, and Shahzad Hussain. "Foreign Debt and its Implications for Pakistan’s National Security." Global Regional Review III, no. I (2018): 107–27. http://dx.doi.org/10.31703/grr.2018(iii-i).08.

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National security implications of the rising government debt in Pakistan increase concerns about military powers such as the USA and industrial giants such as Japan. This paper examines the unprecedented rise and abundant use of debt by governments since 2008. Apart from economic sustainability risks of the debt, the paper also traces history of Pakistan’s search for national security since 1947. Pakistan achieved nuclear capability in the face of opposition from the USA. There are fears that in the presence of huge external debts and low capacity to service them, Pakistan may not be able to t

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Tan, Yixuan, Jianjun Li, and Fanghui Li. "Tax–Debt Substitution? Local Government Debt Management and Corporate Tax Burden." China & World Economy 33, no. 2 (2025): 252–82. https://doi.org/10.1111/cwe.12576.

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AbstractThe Local Debt Management System Reform, introduced in 2014 and implemented in subsequent years, was a key initiative by the Chinese government to mitigate local government debt risks. Using its implementation as a natural experiment, this study examined its impact on corporate tax burdens. The results indicated that tighter debt constraints significantly increased corporate tax burdens, as local governments intensified tax collection to offset reduced debt‐related revenue. This effect was stronger in areas that were reliant on land financing and less economically developed. Further an

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Cash, Jennifer R. "Risking Debt for Honor." Journal of Family History 43, no. 1 (2017): 51–71. http://dx.doi.org/10.1177/0363199017738200.

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Research on godparenthood has traditionally emphasized its stabilizing effect on social structure. This article, however, focuses attention on how the practices and discourses associated with marital sponsorship in the Republic of Moldova ascribe value to the risks and uncertainties of social life. Moldova has experienced substantial economic, social, and political upheaval during the past two decades of postsocialism, following a longer period of Soviet-era modernization, secularization, and rural–urban migration. In this context, godparenthood has not contributed to the long-term stability o

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Fu, Yongshuang, Jiayi Du, and Yajie Wang. "Hedging FX Exposure Risk by Foreign Currency-denominated Debt and Derivatives: Evidence from Chinese Listed Companies." Journal of Statistics and Economics 1, no. 2 (2024): 94–107. http://dx.doi.org/10.62517/jse.202411215.

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This empirical study explores the determinants of foreign currency debt financing for export-oriented companies, utilizing panel data from Chinese listed companies spanning the period 2015-2019. Across the entire sample, raising foreign currency debt appears to serve as a natural hedging mechanism; employing foreign exchange hedging instruments effectively mitigates foreign exchange risks for these firms. Subsequent analysis demonstrates that industry variations can introduce risk exposure in foreign currency debt, with hedging instruments and foreign debt acting as effective complements or su

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Bukina, I. S. "Debt Burden of the Subjects of the Russian Federation." Federalism 26, no. 3 (2021): 121–41. http://dx.doi.org/10.21686/2073-1051-2021-3-121-141.

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The growth of regional debts produces risks both at the regional level and in the sphere of intergovernmental relations. The article shows that with a low debt burden at a long-term level, the subjects of the Russian Federation are highly differentiated by the level of debt, and even with a decrease in overall debt, a variation of debt load is growing. On the basis of cluster analysis, four groups of the subjects of the Russian Federation were allocated, depending on the variation of the debt burden and the share of social spending in total regional expenditures. It is concluded that the level

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Bukina, I. S. "Debt Burden of the Subjects of the Russian Federation." Federalism 26, no. 3 (2021): 121–41. http://dx.doi.org/10.21686/2073-1051-2021-3-121-141.

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The growth of regional debts produces risks both at the regional level and in the sphere of intergovernmental relations. The article shows that with a low debt burden at a long-term level, the subjects of the Russian Federation are highly differentiated by the level of debt, and even with a decrease in overall debt, a variation of debt load is growing. On the basis of cluster analysis, four groups of the subjects of the Russian Federation were allocated, depending on the variation of the debt burden and the share of social spending in total regional expenditures. It is concluded that the level

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BOHDAN, Tetiana, and Ivan BOHDAN. "Budget deficits and public debt of Ukraine under the shocks of pandemic and military aggression." Fìnansi Ukraïni 2023, no. 5 (2023): 7–29. http://dx.doi.org/10.33763/finukr2023.05.007.

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Introduction. The extraordinary conditions for the government’s functioning during the pandemic and warfare provoked a strong respose of the state institutions, as a result of which the size of budget deficit in Ukraine over 2022-2023 exceeded a lot the historical values and averages for the different country groups as most indicators of the debt burden worsened, generating the danger of debt unsustainability. Problem Statement. Identification of the nature of Ukraine’s fiscal policy through the lens of past and contemporary global phenomenon, identification of macro-financial factors impactin

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Kheifets, B. "The Risks of Russia's Debt Policy against the Background of the Global Debt Crisis." Voprosy Ekonomiki, no. 3 (March 20, 2012): 80–97. http://dx.doi.org/10.32609/0042-8736-2012-3-80-97.

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The paper discusses the debt component of the current global crisis, which becomes stronger in 2011—2012. The Russian economy is analyzed in terms of its debt stability: a thorough analysis shows that it is not quite adequate. This paper presents the main problems that could be exacerbated by the global debt crisis (strong dependence of the budget on the volatility of oil prices, deterioration of conditions for external borrowing and overheat of the domestic debt market, too high public pension liabilities, substantial corporate debt and high level of state paternalism in regard to big busines

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Novy-Marx, Robert, and Joshua D. Rauh. "The Liabilities and Risks of State-Sponsored Pension Plans." Journal of Economic Perspectives 23, no. 4 (2009): 191–210. http://dx.doi.org/10.1257/jep.23.4.191.

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As of December 2008, state governments had approximately $1.94 trillion set aside in pension funds for their employees. How does the value of these assets compare to the present value of states' pension liabilities? Just as future Social Security and Medicare liabilities do not appear in the headline numbers of the U.S. federal debt, the financial liability from underfunded public pensions does not appear in the headline numbers of state debt. If pensions are underfunded, then the gap between pension assets and liabilities is off-balance-sheet government debt. We show that government accountin

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Gottardi, Piero, Atsushi Kajii, and Tomoyuki Nakajima. "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation." American Economic Review 105, no. 11 (2015): 3443–70. http://dx.doi.org/10.1257/aer.20110576.

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We consider an economy where individuals face uninsurable risks to their human capital accumulation and analyze the optimal level of linear taxes on capital and labor income together with the optimal path of government debt. We show that in the presence of such risks, it is beneficial to tax both labor and capital and to issue public debt. We also assess the quantitative importance of these findings, and show that the benefits of government debt and capital taxes both increase with the magnitude of idiosyncratic risks and the degree of relative risk aversion. (JEL D52, H21, H24, H25, H63, J24)

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Rashid, Abdul. "Firm external financing decisions: explaining the role of risks." Managerial Finance 40, no. 1 (2014): 97–116. http://dx.doi.org/10.1108/mf-02-2013-0049.

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Purpose – The main purpose of this paper is to empirically examine how firm-specific (idiosyncratic) and macroeconomic risks affect the external financing decisions of UK manufacturing firms. The paper also explores the effect of both types of risk on firms' debt versus equity choices. Design/methodology/approach – The paper uses a firm-level panel data covering the period 1981-2009 drawn from the Datastream. Multinomial logit and probit models are estimated to quantify the impact of risks on the likelihood of firms' decisions to issue and retire external capital and debt versus equity choices

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Rafaqat, Islam. "Foreign Debt and its Implications for Pakistan's National Security." Global Regional Review (GRR) 3, no. 1 (2018): 107–27. https://doi.org/10.31703/grr.2018(III-I).08.

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National security implications of the rising government debt in Pakistan increase concerns about military powers such as the USA and industrial giants such as Japan. This paper examines the unprecedented rise and abundant use of debt by governments since 2008. Apart from economic sustainability risks of the debt, the paper also traces history of Pakistan’s search for national security since 1947. Pakistan achieved nuclear capability in the face of opposition from the USA. There are fears that in the presence of huge external debts and low capacity to service them, Pakistan may not be abl

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Akkizidis, Ioannis. "Managing the Risks of Negative Interest Rates." Risk Management Magazine 16, no. 3 (2021): 4–8. http://dx.doi.org/10.47473/2020rmm0094.

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The acceleration in the issuance of government debt since the global financial crisis has led central bankers to engineer interest rates that are historically low in nominal terms and consistently lower than inflation rates. Although the ostensible aim of this policy is to stimulate economic growth, maintaining negative real rates also goes a long way so that government debt is manageable and will decline in the long run, relative to the size of the economy. Financial institutions hold the great majority of government debt, and their books of retail and corporate loans are expanding briskly at

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Semeko, Galina. "PUBLIC DEBT: NEW RISKS IN THE CONTEXT OF THE COVID-19 CRISIS. PART 2." Economic and social problems of Russia The digital economy Current state and prospects, no. 3 (2020): 84–101. http://dx.doi.org/10.31249/espr/2020.03.04.

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The crisis associated with the COVID-19 pandemic has led to unprecedented fiscal interventions in all affected countries, including Russia. A sharp increase in unplanned budget expenditures, in the face of a collapse of tax and export revenues, has created a threat of public finances destabilisation and debt spiral launch. The article presents expert opinions on the impact of debt growth on the economy, the threshold of debt towards GDP, and strategies that can prevent a debt crisis. Forecasts of growth in budget expenditures and public debt, as well as fiscal incentives applied in some countr

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Ying, Wang, and Pan Wenjie. "Local Government Debt, Financing Platform and Fiscal Risk." International Business Research 12, no. 3 (2019): 40. http://dx.doi.org/10.5539/ibr.v12n3p40.

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The excessive expansion of local financing platform as a substantive medium for local government borrowing has aggravated local government financial risks, which may induce systemic financial risks. Based on the current debt situation of the central and provincial governments, this paper uses different measurement models to calculate debt balance and default risks of the financing platforms. The results show that nearly one-third of the provinces may have potential financial risks, therefore the central government and local governments should work together and keep four kinds of balances in or

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Zhang, Yajing, Weijian Jin, and Jingfeng Yuan. "Policy Perspective on Governmental Implicit Debt Risks of Urban Rail Transit PPP Projects in China: A Grounded Theory Approach." Sustainability 15, no. 19 (2023): 14078. http://dx.doi.org/10.3390/su151914078.

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Public–private partnership (PPP) projects have the features of extended investment cycles, diminished returns, and high demand for technology. Inadequate utilization of these projects may result in an accumulation of new implicit debt for the government. Consequently, it becomes imperative for the government to manage and mitigate implicit debt risks associated with urban rail transit PPP projects, which is a crucial prerequisite for ensuring the progression of such projects and the unhindered functioning of the financial system. The objective of this study is to investigate the factors that i

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