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Journal articles on the topic 'Structure of government debt'

Author: Grafiati

Published: 28 May 2022

Last updated: 31 July 2025

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1

Wing Kwong, Chan and Ei Yet, Chu. "THE IMPACTS OF CORPORATE GOVERNANCE MECHANISMS AND OWNERSHIP STRUCTURE ON CAPITAL STRUCTURE OF CHINESE DUAL-LISTED COMPANIES." International Journal of Business and Society 24, no. 3 (2023): 995–1014. http://dx.doi.org/10.33736/ijbs.6394.2023.

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This research aims to assess how the mechanisms of corporate governance and ownership structure affect the capital structures of Chinese dual-listed companies that list their shares in the China A-share market and the Hong Kong market simultaneously from 2003 to 2019. A binary variable of state control firm attribute is introduced to proxy the political connection to the Chinese government. Both the independent director ratio and CEO duality are negatively and significantly associated with the long-term debt ratio. The board size negatively and significantly relates to the short-term debt rati

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2

Shin, Yongseok. "Managing the maturity structure of government debt." Journal of Monetary Economics 54, no. 6 (2007): 1565–71. http://dx.doi.org/10.1016/j.jmoneco.2006.06.003.

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3

Sinha, Arunima. "Government debt, learning and the term structure." Journal of Economic Dynamics and Control 53 (April 2015): 268–89. http://dx.doi.org/10.1016/j.jedc.2015.02.006.

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4

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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Yang, Chunfei, Yongyou Li, Yu Qi, and Yanzhe Xu. "Decentralization, Supervision, and Chinese Local Government Debt." China & World Economy 32, no. 4 (2024): 229–62. http://dx.doi.org/10.1111/cwe.12545.

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AbstractDecentralization can alter the incentive structure of local governments and one outcome of this is debt accumulation. Based on the “Province‐Managing‐County” pilot policy, a fiscal decentralization reform devolving fiscal power from the prefecture‐level city to the county level, we assess the impact of fiscal decentralization on local government debt using a difference‐in‐differences model with a unique county‐level dataset from 2011 to 2019. According to the study findings, the “Province‐Managing‐County” reform resulted in an average increase of 5.758 percent in the local government d

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Hu, Fang, and Zidong Jiang. "Risk Assessment of Local Government Debt: Evidence from China." International Business & Economics Studies 5, no. 2 (2023): p197. http://dx.doi.org/10.22158/ibes.v5n2p197.

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The risk of local government debt has been a robust indicator of regional economic development and the smooth operation of local government. The promulgation and implementation of the new Budget Law in 2014 also reflect the determination of China to control government debt risk. Based on the DPSIR model, this paper defines the logical relationship among the driving force, pressure, debt status, influence, debt repayment ability, and local government debt risk. Combined with the entropy method, this paper analyzes the debt risk level of 30 provinces, municipalities, and autonomous regions in Ch

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Kong, Wenping. "Research on the Influence of Local Government Debt on Enterprise Debt Financing." Frontiers in Business, Economics and Management 7, no. 2 (2023): 65–70. http://dx.doi.org/10.54097/fbem.v7i2.4792.

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In recent years, China's local government debt and corporate debt issues have attracted the attention of academia and the government. At present, the financing difficulties of SMEs have become a problem in the industry. Although the existing literature has studied the impact of local government debt on the debt financing of micro enterprises, the academic circles still hold disputes on the "crowding out effect" and "crowding in effect" of local government debt on micro enterprise behavior. This paper selects the panel data of provincial local government debt and A-share listed companies from 2

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Wu, Yuanlin, Cunzhi Tian, and Guannan Wang. "Local Government Debt and Corporate Investment Behavior in China: Real versus Financial Investment." Sustainability 15, no. 22 (2023): 15756. http://dx.doi.org/10.3390/su152215756.

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The ongoing expansion of local government debt (LGD) in China constitutes a significant impediment to economic development, while the existing literature predominantly concentrates on macro-level investigations, neglecting the repercussions of government debt expansion on firms. Firms serve as fundamental constituents of the real economy, and the suitability of their investment structure is a pivotal determinant of their robust development. Therefore, it is of great significance to investigate whether the investment structure of non-financial firms will undergo deviations attributable to the e

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9

Xie, Ping, and Zhang Chunyan. "Constructing Risk Analysis for Changes in China’s Local Government Bond System Based on SSP." Mobile Information Systems 2022 (August 13, 2022): 1–13. http://dx.doi.org/10.1155/2022/4606905.

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The local government bond system of China has experienced a series of changes from its initial creation to its abolition and then to a recovery again. During the period, the central government always dominated the changing direction of the local government bond system. However, as fiscal decentralization reform has progressed, the institutional needs of local governments and investors have gradually gained attention. As a result, the size and variety of local government bonds are expanding. Through the introduction of analysis of system change based on situation structure performance (SSP), th

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10

SHI, JINCHUAN, ZHIKAI WANG, and XIAOJIANG WANG. "INNOVATIONS IN THE SUSTAINABLE MANAGEMENT OF LOCAL GOVERNMENT LIABILITIES IN CHINA." Singapore Economic Review 63, no. 04 (2018): 819–37. http://dx.doi.org/10.1142/s0217590817420115.

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Through the first and second year of China’s 13th five-year plan coincided with local governments holding their own “Two Sessions” before attending the “Two Congresses” in Beijing in March. As one of the frequent results, the issue of local government debt naturally became a popular topic. The scale of local government debt in China was/is considerable, and the structure is complex, which poses a threat to sustained economic development. To address this situation, China must regulate local government debt, clean up urban financing vehicle debt, foster and manage the local bond market, and intr

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11

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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12

Li, Shiyu, and Shuanglin Lin. "The size and structure of China's government debt." Social Science Journal 48, no. 3 (2011): 527–42. http://dx.doi.org/10.1016/j.soscij.2011.06.003.

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13

Siying, Wei. "Government debt and economic impact: An analytical comparison of different countries." Risk Governance and Control: Financial Markets and Institutions 14, no. 1 (2024): 122–37. http://dx.doi.org/10.22495/rgcv14i1p9.

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The increase in the level of government debt has led to economic instability in a number of developing as well as developed nations. According to a study by Hilton (2021), having an unsustainable amount of public debt can slow down the economic growth of the nation in the long run. Therefore, it has become increasingly important to understand the economic impact that government debts have on different countries. The countries used in this paper are Brazil, Malaysia, South Africa, Thailand, and Turkey. Firstly, the study analyses the trends of public debt across these five countries. From the a

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14

Debortoli, Davide, Ricardo Nunes, and Pierre Yared. "Optimal Time-Consistent Government Debt Maturity*." Quarterly Journal of Economics 132, no. 1 (2016): 55–102. http://dx.doi.org/10.1093/qje/qjw038.

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Abstract This article develops a model of optimal government debt maturity in which the government cannot issue state-contingent bonds and cannot commit to fiscal policy. If the government can perfectly commit, it fully insulates the economy against government spending shocks by purchasing short-term assets and issuing long-term debt. These positions are quantitatively very large relative to GDP and do not need to be actively managed by the government. Our main result is that these conclusions are not robust to the introduction of lack of commitment. Under lack of commitment, large and tilted

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15

Hantsiak, Mykhailo. "PUBLIC DEBT MARKET AND BUDGET DEFICIT FINANCING TOOLS." Scientific Notes of Ostroh Academy National University, "Economics" Series 1, no. 19(47) (2020): 80–85. http://dx.doi.org/10.25264/2311-5149-2020-19(47)-80-85.

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The purpose of the study is to substantiate the need to determine the essence and place of the public debt market in the financial market. Achievement is ensured by the implementation of tasks: systematization of views of domestic and foreign scientists on the essence of the place of public debt in the classification system of financial market segments; study of the structure of the financial market in terms of segments that ensure the implementation of debt financing of public debts; development of a theoretical approach to the structure of the public debt market. The article considers and sy

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16

Zheng, Yufan, Siya Cao, Lizhi Yin, and Can Wang. "Study of the Nonlinear Effects of Population Aging on Local Government Debt." Journal of Innovation and Development 3, no. 1 (2023): 44–50. http://dx.doi.org/10.54097/jid.v3i1.8418.

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Along with the transformation of economic stage and the evolution of population structure, the local government debt problem brought by deep aging is an important proposition facing China's high-quality economic development. Based on the realistic background that China's population aging continues to deepen and the scale of local debts expands rapidly, this thesis systematically compares the impact mechanism of population aging on local government debts. Based on the provincial panel data from 2007-2021, the dynamic effects between the two are analyzed in depth based on the panel threshold reg

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Swastika, Putri, and Azura Othman. "Hyperbolic Discounting in Fiscal Policy: The Case of Malaysian Government Budget." International Journal of Islamic Economics 1, no. 01 (2019): 44. http://dx.doi.org/10.32332/ijie.v1i01.1571.

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Thispaper examines the lag effect of interest payments on the national output represented by GDP. The lag effectimplies the observation of hyperbolic discounting in the fiscal policy. The idea is round-eyed;that the government takes on high debts to finance their spending while not factoring or placing less importanceon the cost of the interest payments. The concept of hyperbolic discounting of behavioral economics is used in this paper to explain this phenomenon in the present path of public policy which operates under an interest-based system. We conduct this analysis by examiningthe present

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18

Harkavenko, Valentyna, and Galina Yershova. "The influence of government debt policy on the development of Ukraine's economy." Economy and forecasting 2022, no. 1 (2022): 84–101. http://dx.doi.org/10.15407/econforecast2022.01.084.

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The influence of the government's debt policy on the development of Ukraine's economy is analyzed. It is determined that today almost all indicators of debt stability in Ukraine exceed the critical limit, beyond which the state loses the ability to solve debt problems on its own. Thus, during 2014–2021, the domestic public and state-guaranteed debt of Ukraine increased in hryvnia equivalent by 3.9 times and as of the end of 2021 amounted to UAH 1,111.6 billion. The increase in debt was primarily due to direct public debt, which increased 4.1 times during the analyzed period. It is concluded th

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Harkavenko, Valentyna, and Galina Yershova. "THE INFLUENCE OF GOVERNMENT DEBT POLICY ON THE DEVELOPMENT OF UKRAINE'S ECONOMY." Ekonomìka ì prognozuvannâ 2022, no. 1 (2022): 107–23. http://dx.doi.org/10.15407/eip2022.01.107.

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The influence of the government's debt policy on the development of Ukraine's economy is analyzed. It is determined that today almost all indicators of debt stability in Ukraine exceed the critical limit, beyond which the state loses the ability to solve debt problems on its own. Thus, during 2014–2021, the domestic public and state-guaranteed debt of Ukraine increased in hryvnia equivalent by 3.9 times and as of the end of 2021 amounted to UAH 1,111.6 billion. The increase in debt was primarily due to direct public debt, which increased 4.1 times during the analyzed period. It is concluded th

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20

Yang, Wenqian, and Changyi Lei. "Local Government Debt Risk: Current Situation and Formation Mechanism." Journal of Social Science and Humanities 6, no. 7 (2024): 79–83. http://dx.doi.org/10.53469/jssh.2024.06(07).18.

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This paper explores the current state and formation mechanisms of local government debt risk in China. With the slowdown in economic growth and the reduction in land finance revenue, the scale of local government debt has expanded, and debt risks have emerged. This paper analyzes the impact of fiscal systems, regional competition, and promotion incentives on debt risk, finding that mismatched fiscal powers and responsibilities, increased fiscal decentralization, tax competition, and promotion pressures have driven debt expansion. To address these issues, the paper proposes three policy recomme

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21

Lugo, Stefano, and Giulia Piccillo. "The Relation between Corporate and Government Debt Maturity in Europe." Journal of Financial and Quantitative Analysis 54, no. 5 (2018): 2119–40. http://dx.doi.org/10.1017/s0022109018001205.

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This article investigates the gap-filling explanation for corporate debt maturity choices in a multi-country setting. We argue that companies adjust their debt maturity in response to shocks in government debt maturity both at home and abroad; the difference between the two effects depends on the markets’ relative size and level of integration. Focusing on the European case and treating the Economic and Monetary Union as a shock in market integration, we find strong empirical support for our predictions. Our results have relevant implications for the opportunity for individual governments to u

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22

Abdu, Mohammed I. "Dealing with Egypt Public Debt Accumulation Problem." Business and Economic Research 9, no. 4 (2019): 128. http://dx.doi.org/10.5296/ber.v9i4.15569.

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This paper examines the public debt problem in Egypt, and provides new supportive and non-stereotyped ideas that could help to put public debt on a downturn and a sustainable pass. The analytical approach was used to identify the magnitude of the public debt problem through analyzing the debt structure, the increase in interest payments, and private investment crowding out. The study also evaluates the impact of the economic reform problem on the debt to GDP level; in addition to analyzing the implications of the government plan on debt structure and its associated risks. Some of these risks a

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23

Debortoli, Davide, Ricardo Nunes, and Pierre Yared. "The Commitment Benefit of Consols in Government Debt Management." American Economic Review: Insights 4, no. 2 (2022): 255–70. http://dx.doi.org/10.1257/aeri.20210341.

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We consider optimal government debt maturity in a deterministic economy in which the government can issue any arbitrary debt maturity structure and in which bond prices are a function of the government’s current and future primary surpluses. The government sequentially chooses policy, taking into account how current choices—which impact future policy—feed back into current bond prices. We show that issuing consols constitutes the unique stationary optimal debt portfolio, as it boosts government credibility to future policy and reduces the debt financing costs. (JEL E62, G12, H61, H63)

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24

Shao, Yixin. "The Impact of Local Government Debt on Economic Growth in the Post-Epidemic Period - Taking Beijing as an Example." Highlights in Business, Economics and Management 21 (December 12, 2023): 277–84. http://dx.doi.org/10.54097/hbem.v21i.14407.

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As an important tool for China to achieve fiscal goals and promote economic growth, government debt has played an important role during the epidemic. Beijing, as one of the earliest regions in China to try the self-issuance and repayment of local government bonds, has a wealth of experience modifying the economic cycle via local government debt. However, by combing the existing literature, this paper reveals that there is ongoing debate in academia over the function of local government debt. Therefore, this paper examines the relationship between local government debt and economic growth using

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Prasetyo, Ahmad Danu, and Naoyuki Yoshino. "Determining the optimal structure of government debt in Indonesia." Global Business and Economics Review 17, no. 4 (2015): 445. http://dx.doi.org/10.1504/gber.2015.072499.

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26

Yabesh, Ombwori Kongo. "Moderating Role of Institutional Quality on Public Debt Sustainability in Kenya." Journal of Economics, Finance and Management Studies 06, no. 08 (2023): 3891–97. https://doi.org/10.5281/zenodo.8264155.

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The focus of institutional economics is on the crucial part that institutions play in a nation’s economic performance. With a focus on transaction costs as a crucial element of economic activity, it offers a framework for understanding the interaction of governmental structures, corporate structure, and individual decisions. A mechanism for advancing transparency, accountability, and responsibility in policy decision-making is thought to be better institutional quality. Kenya is one of the Sub-Saharan African nations struggling to meet enormous debt repayment obligations that the World B

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27

Chen, Dan. "Risk Assessment of Government Debt Based on Machine Learning Algorithm." Complexity 2021 (June 7, 2021): 1–12. http://dx.doi.org/10.1155/2021/3686692.

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Government debt risk is an important factor affecting macroeconomic stability and public expectation. The key to its prevention and control lies in early warning and early prevention. This paper builds an effective government debt risk assessment system based on machine learning algorithm. According to forming the performance of local government debt risk and its internal and external influencing factors, this study applies the analytic hierarchy process, entropy method, and BP neural network method to construct the local government risk assessment index system, which includes the primary and

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28

Georges, Patrick. "Borrowing Short- or Long-Term: Does the Government Really Face A Trade-Off?" Public Finance and Management 6, no. 2 (2006): 206–43. http://dx.doi.org/10.1177/152397210600600202.

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This paper considers public debt management as a component of a more general problem involving fiscal planning under uncertainty. This approach has the potential to result in a new optimal debt maturity structure. Using a stochastic simulation macro-econometric model, we show that a shorter debt maturity structure is generally less expensive and may also contribute to stabilize the budget balance as interest rates tend to decline when the economy is weak.

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Dr.Yadollah, Noorifard, and Amir Shafiei Alireza. "Survey the impact of different ownership structure on debt maturity structure in Tehran Stock Exchange." RESEARCH REVIEW International Journal of Multidisciplinary 03, no. 06 (2018): 363–71. https://doi.org/10.5281/zenodo.1290735.

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The study aimed to examine the impact of different ownership structure on debt maturity structure in of firms listed on the Tehran Stock Exchange (TSE). The objectives of the study were: to evaluate the relationship between corporate, individual, centralized, intuitional and government ownership on debt maturity. The data for the study was obtained from 101 firms that had been consistently listed in the TSE from 2010 to 2014. Correlation and regression analysis were used to test the relationship between ownership structure and debt maturity. The results of the study indicated that there was a

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Yeshugova, S. K., and S. K. Khamirzova. "Evaluation of the debt policy of the southern macroregion subjects in modern conditions." New Technologies 17, no. 5 (2021): 73–81. http://dx.doi.org/10.47370/2072-0920-2021-17-5-73-81.

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The relevance of the topic is due to the fact that debt crises have an extremely negative impact on the national economy, which implies the need for constant attention on the part of the government to issues of public debt management in order to timely, identify possible violations of debt stability. The subject of the research is the debt sustainability of the constituent entities of the South of Russia as the ability of the constituent entities of the federation to timely and fully service the public debt without significant adjustments to the balance of income and expenses. The aim of the r

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Ahmed Abu Bakr, F. A. "Analysis of structure of a public debt of the countries of Latin America." MGIMO Review of International Relations, no. 2(29) (April 28, 2013): 228–31. http://dx.doi.org/10.24833/2071-8160-2013-2-29-228-231.

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The article addresses the problem of public debt restructuring in seven largest countries of Latin America. Over the last decade there has been a steady decline in nations’ external debt liabilities. This process was originated by two main contributors: worsening borrowing conditions on the world credit market, encouraging governments to deleverage their external credit position, and a solid financial standing underpinned by a positive external environment. It is LAC-7 countries’ strong fiscal position that propelled the development of national debt market and attracted international investors

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32

Korobkova, A., and V. Markin. "Specifics US domestic public debt and the implications of increasing its volume." Bulletin of Science and Practice 1(14), no. 286 (2017): 142–46. https://doi.org/10.5281/zenodo.244239.

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The article addresses the theory of the problem, the peculiarities of an organization of internal borrowing in the United States of America, including public debt and intergovernmental debt, as well as their structure. Special attention is paid to such creditor of the United States as the Federal Reserve Service and its role in the implementation of domestic public borrowing. The following is the analysis of strengths and weaknesses of growth of domestic debt of the United States.

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Sun, Wenda, Genhua Hu, and Tingting Zhu. "Optimizing Government Debt Structure and Alleviating Financing Constraints: Access to Private Enterprises’ Sustainable Development." Sustainability 17, no. 14 (2025): 6509. https://doi.org/10.3390/su17146509.

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To promote the deepening of reform and the effective implementation of policies, the State Council launched the special supervision of the liquidation of local governments’ arrears in project funds in 2016, which supports the optimization of the government debt structure. Based on the quasi-natural experiment of the special supervision action, in this study, we use the difference-in-difference (DID) method to investigate the effect and mechanism of the optimization of the government debt structure on the financing constraints of private enterprises. This research is particularly relevant for p

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ПІХНЯК, Тетяна, Максим СЛОБОДЯН та Владислав МОВЧАН. "ДЕРЖАВНИЙ БОРГ УКРАЇНИ ТА ІНШИХ КРАЇН: ПОРІВНЯЛЬНИЙ АСПЕКТ". Herald of Khmelnytskyi National University. Economic sciences 328, № 2 (2024): 39–43. http://dx.doi.org/10.31891/2307-5740-2024-328-5.

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This article analyzes research on national debt, which is one of the major economic problems not only in Ukraine but also in the world economy as a whole. The national debt is defined as the total government debt, which is the total amount of borrowed and unpaid debts incurred as a result of government borrowing. It is noted that the increase in the national debt is the result of various factors that force the state to finance itself, especially through government credit. The structure of national debt is analyzed in detail and concepts such as domestic and external debt are explained. A compa

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Li, Mengqin. "Tax structure, government debt, and the relative power of local education supply." PLOS ONE 19, no. 6 (2024): e0301985. http://dx.doi.org/10.1371/journal.pone.0301985.

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Policymakers are increasingly focusing on structural adjustment and efficiency to cope with the pressures that the economic downturn has placed on local finances. Accordingly, the Chinese government should shift from using standard passive investments to high-quality active investments for its social guarantees, such as education. Based on panel data of 274 cities from 2010 to 2019, this study conducted the first examination of the impact of tax structure and government debt on the relative power of the local education supply (LES) in China. The study found that, first, in general, increases i

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ZIA UR REHMAN, ASAD KHAN, SHER ALI KHAN, and SHAH RAZA KHAN. "Monetary Policy, Fiscal Policy and Capital Structure." Journal of Business & Tourism 4, no. 2 (2021): 77–85. http://dx.doi.org/10.34260/jbt.v4i2.163.

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Instruments of monetary and fiscal policy are beyond the control of the management but they do influence the short-term as well as long-term decision making of the firm. Empirical studies with respect to their effect on financing decisions of the firm are somewhat under researched particularly in the context of developing countries. The aim of the study was to analyse the effect of these instruments on the financing decisions of the non-financial firms listed on PSX for the period 2008-2015. Fixed effect model was used to analyse the effect of instruments of monetary policy and fiscal policy o

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37

Nosbusch, Yves. "Interest Costs and the Optimal Maturity Structure Of Government Debt." Economic Journal 118, no. 527 (2008): 477–98. http://dx.doi.org/10.1111/j.1468-0297.2007.02130.x.

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Liu, Yiping, Bingjie Chen, and Jhony Ng. "RISK EARLY WARNING RESEARCH ON CHINA'S LOCAL GOVERNMENT DEBT STRUCTURE." Journal of International Business and Economics 15, no. 3 (2015): 167–77. http://dx.doi.org/10.18374/jibe-15-3.15.

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MARSHALOK, Taras, and Ivanna MOROZ. "IMPACT OF THE GOVERNMENT DEBT ON ECONOMIC DEVELOPMENT OF COUNTRY." WORLD OF FINANCE, no. 2(59) (2019): 23–36. http://dx.doi.org/10.35774/sf2019.02.023.

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Introduction. An increase in public debt may have a negative, neutral or positive impact on the country's economic development. A big loan does not mean big growth; it all depends on how the public money is spent. The same amount of money spent by governments from different countries has a different meaning for domestic development and the dynamics of public debt. The reasons are differences in the size of GDP, the structure of government borrowings, the shadow economy. Purpose. The objective of this paper is to deepen the theoretical backgrounds and applied aspects of influence of the public

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40

Yang, Wanping, Zhenya Zhang, Yajuan Wang, Peidong Deng, and Luyao Guo. "Impact of China’s Provincial Government Debt on Economic Growth and Sustainable Development." Sustainability 14, no. 3 (2022): 1474. http://dx.doi.org/10.3390/su14031474.

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Macroeconomic stability is the core concept of sustainable development. However, the coronavirus disease (COVID-19) pandemic has caused government debt problems worldwide. In this context, it is of practical significance to study the impact of government debt on economic growth and fluctuations. Based on panel data of 30 provinces in China from 2012 to 2019, we used the Mann–Kendall method and Kernel Density estimation to analyze the temporal and spatial evolution of China’s provincial government debt ratio and adopted a panel model and HP filtering method to study the impact of provincial gov

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Guan, Yonghao, Jingjin Wu, and Yiqi He. "Local Government Debt, Local Government Financing Platforms, and Green Development Efficiency." Platforms 2, no. 2 (2024): 55–67. http://dx.doi.org/10.3390/platforms2020004.

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Local government debt (LGD), an important financing tool for local governments to achieve high-quality development, especially through the expansion of urban investment bonds led by local investment and financing platforms, has a significant impact on green development efficiency (GDE). This article starts from LGD, selects data from 30 provinces from 2010 to 2019, and uses a two-way fixed-effect model and mediation-effect model to empirically analyze the impact of LGD on GDE. The research results show that LGD has a significant inhibitory effect on GDE, and LGD can indirectly affect GDE throu

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Ma, Haiyun, and Deshuai Hou. "Local Government Debt and Corporate Maturity Mismatch between Investment and Financing: Evidence from China." Sustainability 15, no. 7 (2023): 6166. http://dx.doi.org/10.3390/su15076166.

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Based on the perspective of investment and financing term structure, this study verifies that local government debt crowds out bank loans available to corporates, resulting in corporate maturity mismatch between investment and financing, namely, short-term financing for long-term investment. According to our heterogeneity analyses, the real impact of local government debt on maturity mismatch between investment and financing is more pronounced for non-state-owned enterprises and firms with high financing demand, located in cities with more local government debt and low financial development. F

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Perdana, Djaja. "Kepemilikan Pemerintah dan Struktur Modal Dalam Konteks Institusional BUMN Indonesia." Jurnal Riset Akuntansi dan Keuangan 7, no. 3 (2019): 477–90. https://doi.org/10.17509/jrak.v7i3.17758.

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Abstract. Government as the largest shareholders has an important role to decide source of funding for State Owned Enterprises (SOEs) including from lenders. This study examined the impact of government ownership on capital structure that is proxied by the total debt-to-equity ratio and the long term debt-to-equity ratio. This study uses a sample of total 40 SOEs, SOE's subsiadiaries, and other partial government ownership companies which is listed on Indonesian Stock Exchange for the fiscal year ended in December 31, 2012 to 2018. To study the impact of government ownership on capital structu

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Chronopoulos, Dimitris K., George Dotsis, and Nikolaos T. Milonas. "International Evidence on the Determinants of Domestic Sovereign Debt Bank Holdings." Journal of Financial Services Research 58, no. 2-3 (2019): 143–60. http://dx.doi.org/10.1007/s10693-019-00326-4.

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Abstract In this paper, we examine the determinants of bank holdings of domestic sovereign debt with a panel dataset of 295 banks in 35 countries between 2002 and 2013. The findings indicate that the structure of bank ownership (domestic, foreign, or government ownership), the quality of governance, and the level of financial development of the countries in which banks operate all determine the level of home bias. Specifically, we find that domestic banks tend to hold more domestic sovereign debt relative to their foreign counterparts. We also provide evidence that home bias is even stronger w

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Wang, Shiwen. "High Government Leverage and High Corporate Leverage: Crowding-in or Crowding-out." Frontiers in Business, Economics and Management 17, no. 3 (2024): 225–33. https://doi.org/10.54097/n7z3ag84.

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This paper uses panel data of non-financial listed companies between 2012 and 2018 to empirically analyze the impact of local government debt on corporate leverage. We find that as the scale of local government debt expands, it has a negative impact on corporate leverage. However, this impact varies a lot across industries. For the real estate industry, we surprisingly found that it has crounding-in effect which is different from others industry.Moreover, this impact on corporate leverage also varies by enterprise size and equity nature. The government's local debt affects the internal cash st

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Özker, Ahmet Niyazi. "THE PUBLIC DEBT PHENOMENON IN FISCAL SUSTAINABILITY, AND FINANCIAL DEVIATIONS IN SELECTED OECD COUNTRIES." International Journal of Research -GRANTHAALAYAH 10, no. 7 (2022): 91–105. http://dx.doi.org/10.29121/granthaalayah.v10.i7.2022.4692.

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In this study, we attempt to put forth the sustainability phenomenon, an empirical that occurs a significant fiscal impact on developing countries, which aim to reach the desired economic growth levels. Sustainability of public fiscal balances, especially in terms of debt policies, refers to a structural impact mechanism that means paying debts without default and restructuring them without risk in a period when the payment and redemption deadlines have come, especially in terms of external debts. This mechanism of influence is also expressed in the restructuring of a financial process, which

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Gaber, Stevan, Ilija Gruevski, and Vasilka Gaber. "Public debt management." Perspectives of Innovations, Economics and Business 13, no. 2 (2016): 12–18. https://doi.org/10.15208/pieb.2013.07.

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      The paper generally describes the segment of public debt management or especially the structure of public debt. It focuses on different kinds of risks which present potential danger for the public debt explosion. It intends to explain the government goal for borrowing money at lowest rate and sustain the fiscal stability. Also, it explains some practical issues regarding this topic for Republic of Macedonia for the period from 2009-2011. In the process of research were implemented several qualitative methods.    

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Mokhova, Natalia, and Marek Zinecker. "Sovereign debt and corporate capital structure: The evidence from selected European countries during the Gglobal Financial and Economic Crisis." Business: Theory and Practice 18, no. (1) (2017): 14–24. https://doi.org/10.3846/btp.2017.002.

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The recent Global financial crisis and the following European debt crisis show the significance of country financial stability and its impact on the private sector. Moreover, the sovereign debt as an essential element of government macroeconomic policy influences the financial performances of the companies and their future development and growth. The capital structure and financing decisions represent one of the most significant parts of company's financial policy and its key to financial strength. There are a lot of external factors influencing the capital structure; however, due to the Europ

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Krykavskyi, Ye, O. Mnykh, and Ja Binda. "AUCTION TRADE OF GOVERNMENT AND CORPORATE DEBT IN A CRISIS." Financial and credit activity: problems of theory and practice 2, no. 37 (2021): 414–24. http://dx.doi.org/10.18371/fcaptp.v2i37.230329.

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Abstract. Debt securities auction is the kind of trading the most often used in a crisis. The market of bonds, government debt, and debt of private structures are the objects of empiric, scientific and applied researches. The goal of the current scientific work is to identify the peculiarities of auction trade and the state debt policy in a crisis situation basing on the foreign and domestic experience, to investigate the choice of formats of debt securities auction at the secondary market of securities and management of the factors for elimination of the distortion of such kind of trading at

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Shemaieva, Liudmyla, and Polina Tolok. "DEBT MANAGEMENT AGENCY IN UKRAINE: A COMPREHENSIVE APPROACH TO THE CREATION AND OPERATION." ECONOMICS, FINANCE AND MANAGEMENT REVIEW, no. 3 (October 1, 2020): 41–49. http://dx.doi.org/10.36690/2674-5208-2020-3-41.

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The article considers a comprehensive approach to the formation and operation of a debt agency in Ukraine based on international experience. Ensuring the full functioning of the Public Debt Management Agency of Ukraine in accordance with international best practices in order to increase the effectiveness of debt policy aimed at reducing the debt burden and reducing the cost of public debt service is one of the most important tasks of Ukraine's strategic development. Analysis of international experience shows that the creation of a debt agency, as a new structure, does not automatically guarant

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