...Abstract The long-term debt of the United States is increasing to a first time thing and it is at the unmaintainable levels. The longer the United States will wait to put new policies in place, the more deficit reduction will be needed. The United States needs to establish a determined realistic goal and promise as a nation to achieve that certain goal. As my role of a legislature I need to find a way in order to stabilize the public debt to a 60% GDP. In order to come with a solution to stabilize the public debt, I will have to make tough budget choices to maintain an economic development. The budget choices that have to be made are based on the budget path, defense, domestic, social security, healthcare, other spending, revenues, and tax...
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...II. Greece public debt 1. Current situation Greece has been in the public debt crisis since 2009. The Greek public debt crisis is one of a number of current European sovereign-debt crises and is believed to have been caused by a combination of structural weaknesses of the Greek economy coupled with the incomplete economic, tax and banking unification of the European Monetary Union. Those days, Greece has confronted with three main related problems: government trust crisis, declining liquidity capacity and high risk of bankruptcy. a) Government trust crisis The prestige of Greek government was impaired seriously during crisis time. Greece borrowed uncontrollable amounts from the financial market to ensure the liquidity for the budget deficit. The budget deficit limit allowed in Eurozone was only 3% of the GDP, while this level of Greece in 2009 was 13.6% and might even increase to over 14%. To cover the overspending in the past years, the Greek government had reported data inconsistently and bias, containing various unusual sections in budget. This action drew to the negative consequences on the reputation of the Greek government on the domestic as well as international market. The credit ascertaining organization successively downgraded Greece recently. Within the first four months of 2010 S&P had lowered continuously the credibility coefficient of Greece, from A- to BBB+ and BB+. b) Declining liquidity capacity Unpaid debt of Greece was nearly 400 billion...
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...GROWTH OF GOCCs RA 10149 – otherwise known as the Governance Act of 2011 An act to promote financial viability and fiscal discipline in government-owned or controlled corporations and to strengthen the role of the state in its governance and management to make them more responsive to the needs of public interest and for other purposes. This act is part of the present administration’s drive to minimize graft and corruption in the government service. It created the Governance Commission for Government Owned or Controlled Corporations (GCG) as central advisory, monitoring and oversight body with authority to formulate, implement and coordinate policies concerning GOCC’s and other related corporations. SALIENT FEATURES OF RA 10149 1. Performance Review - Creation of Governance Commission for GOCCs which shall be composed of five members – the chairman with the rank of Cabinet Secretary and two members with the rank of Undersecretary appointed by the President; and the Budget and Finance Secretaries as ex-officio members. The GCG will review the performance of GOCCs. 2. Restitution and Prosecution of Corrupt Public Officers – any board member or officer found to have benefited from the GOCC excess benefit or profit shall be subject to restitution without prejudice to any administrative, civil or criminal case. 3. Salaries and benefits are rationalized – Rationalization of salaries and benefits of officials and employees of government-owned and controlled-corporations...
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...Thị Mai Khanh Members: Đặng Minh Ngọc (Leader) 1211150110 Lê Tuyết Nhi 1217150114 Đinh Mai Hương 1217150059 Nguyễn Thanh Nga 1214150105 Hồ Bích Phương 1217150120 Nguyễn Thị Ngọc Quỳnh 1217150124 International Investment – Group 8 Instructor: Mrs. Phạm Thị Mai Khanh Members: Đặng Minh Ngọc (Leader) 1211150110 Lê Tuyết Nhi 1217150114 Đinh Mai Hương 1217150059 Nguyễn Thanh Nga 1214150105 Hồ Bích Phương 1217150120 Nguyễn Thị Ngọc Quỳnh 1217150124 ODA & public debt in vietnam [Document subtitle] ODA & public debt in vietnam [Document subtitle] Contents Introduction 2 I. Situation of ODA in Vietnam 3 1.1. The Attraction in ODA in Vietnam 3 1.2. Using and Managing ODA in Vietnam 6 II. Public Debt in Vietnam 11 2.1. The origin of Public Debt in Vietnam 11 2.2. The fact of public debt in Vietnam 13 2.3. The impact of government debt 14 III. The relation between ODA and Public Debt in Vietnam 16 Conclusion 18 Table | Name | Page | Table 1 | The commitment, signed and disbursement of ODA over the period | 5 | Table 2 | The ODA’s contribution to GPD growth | 9 | Introduction The United Nations Millennium Declaration explicitly recognized the role of ODA in the development process and committed industrialized countries to “grant more generous development assistance” (UN 2000). The International Conference on Financing for Development held in Monterrey, Mexico in 2002 reiterated...
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...How is public debt related to economic growth and unemployment? Public debt as a factor will influence economic growth and unemployment. Economic growth is usually presented as gross domestic product (GDP) growth. There are some data including GDP of countries in 2010 and 2009, budget surplus or, total central government debt and unemployment and government debt in U.S.A. Those data have units and definitions below. Definitions: GDP 2010: GDP 2009: Budget surplus/deficit: GovtDebt: Unemployment Debt Gross Domestic Product in 2010 (millions constant 2000 US$) Gross Domestic Product in 2009 (millions constant 2000 US$) Budget surplus/deficit as % of GDP in 2010 Total central government debt as % of GDP in 2010 Total unemployment in USA (% of total labor force) Real government debt in USA (billion constant 2000 US $) First, according to the GDP in 2009 and 2010, GDP growth can be calculated by this way: using the difference between GDP in 2010 mines GDP in 2009 over GDP in 2009. Then, calculate the mean, median standard deviation maximum and minimum by Excel, we can get the results, the mean of GDP in 2010 is 288366.5 million U.S. dollars. The mean id GDP in 2009 is 277225.5 million U.S. dollars, so the average GDP in 2010 is increased. Also, the median of GDP in 2010 is 14141.0 million U.S. dollars, greater than the median of GDP in 2009. However, the standard deviation and difference between maximum and minimum in 2010 is greater than which in 2009, which means in...
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...8421786 How is public debt related to economic growth and unemployment? In this project different economic factors will be compared with each other to see if any correlations exist between them. These will perhaps explain certain trends and changes we see. The three factors focused on in this report are GDP growth, Government Debt and Budget surplus/deficit. In the data provided there is a very large standard deviation for GDP (see appendix). In both 2009 and 2010 the standard deviation was over four and a half times larger than the average of GDP itself. This will make it hard to create general assumptions for all countries to assess whether different factors correlate with each other. Even other factors such as GDP growth have relatively large standard deviations. This may cause difficulties in examining factors. An example of ambiguous data can be seen when comparing Canada and India. They both had fairly similar GDP and debt figures in 2010 but India’s GDP growth was around three times that of Canada’s. This shows that we cannot make hard-and-fast rules on links between different factors but we may be able to make general connections and assumptions. Distribution of GDP Growth and Government Debt within countries Figure 1: GDP Growth (2009-2010) 60 50 Number of Countries 40 30 20 10 0 Frequency GDP Growth 2009-2010 (% change) As we can see from Figure 1 distribution of GDP growth is relatively small, with 93.4% (171/183) countries having a growth between 0% and...
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...discuss the effect of external debt on economic growth with four areas, the effect on private local investment, foreign direct investment, government expenditure and export growth. Three theoretical models are adopted, namely Debt Overhang Theory, Liquidity Constraint Hypothesis and Crowding-out Effect respectively. Two policy implications on debt relief and debt restructuring are analyzed. And finally, the paper will include the discussion on the necessary tradeoff with inflation and contractionary fiscal budgeting after debt servicing. KEY Words: Heavily In-debt Poor Countries (HIPC), External Debt/Foreign Debt) Sustainability, Debt-GNI Ratio, Debt-Export Ratio, Debt Service Ratio Word count (excluding table of content, tables and reference): 2974 Topic: The Effect of External Public Debt in Developing Countries on Economic Growth - An Empirical Study on Argentina Abstract P.1 1. Introduction P.3 1.1 Literature Review P.4 1.2 Structure and Magnitude of External Debt of Argentina P.4 1.3 Theoretical Relationship between External Debt and Economic Growth P.6 1.4 Research Question(s) and Framework P.7 2. Data Collection and Empirical Analysis P.7 2.1 The effect of external public debt on: ...
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...Topic: Guidelines for public debt management Background of research Public debt is an obligation of the government and is also sometimes referred to as government debt. Public debt management is the process of establishing and executing a strategy for managing a governments' debt in order to raise the required amount of funding, achieve its risk and cost objectives and to meet any other debt management goals that a government may have set, such as developing and maintaining an efficient market for government securities. Effective public debt management is the cornerstone of financial stability and sustainable fiscal policy. A government’s debt portfolio is often the largest in the country and can generate substantial risk to its balance sheet, with potential to undermine key development objectives. Statement of the problem The guidelines are designed to assist policymakers in considering reforms to strengthen the quality of their public debt management and reduce their country’s vulnerability to international financial shocks. The main objective of public debt management is to ensure that the government’s financing needs and its payment obligations are met at the lowest possible cost over the medium to long run, consistent with a prudent degree of risk. The risk inherent in the structure of the government’s debt should be carefully monitored and evaluated. In order to help guide borrowing decisions and reduce the government’s risk, debt managers should consider the financial...
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...Institution Abu Dhabi police The Abu Dhabi Police is the primary law enforcement agency in the Emirate of Abu Dhabi was founded in 1957 and Police is primarily responsible for enforcing criminal law, enhancing public safety, maintaining order and keeping the peace throughout the Emirate. it is among the best police forces in the Middle East. It focuses on being the most effective police force that operate to make UAE one of the safest countries. To achieve this the Abu Dhabi police aim at enhancing the levels of safety in the community, maintaining order and security, reducing crime and eliminating feelings of insecurity, and contributing to the achievement of justice in a manner that promotes public. The police force is headed by the Commander General of Abu Dhabi Police and has five departments with over 12,000 police officers The Abu Dhabi Police also works closely in conjunction with local, national and international agencies to contribute to global peace and stability. Integrity, honesty and respect for human rights are the core values of the Abu Dhabi Police while the notion of public service is a central pillar in Abu Dhabi police thinking. Embraced as a legitimate partner by the community, the Abu Dhabi Police pursue efficiency and effectiveness through the use of the latest technological advancements and systems management practices. By incorporating the best of the old with the...
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...runs a trade surplus, this can cause an Italian clothing company to shut down because the company will not be producing the goods that the United States needs. GDP GDP is a measurement of the total size and output of the economy. The effects that the United States deficit, surplus, and debt have on the GDP are that if the public debt to GDP ratio is high, it can slow economic growth. If the debt ratio increases the exchange value of the dollar will drop. When paying back debt with cheaper currency, this could cause most investors to ask for higher interest rates if they anticipate further dollar depreciation. A higher interest rate could slow domestic United States growth. A short deficit period may cause an increase in debt. “Exports affect GDP through their influence on how the world beyond the United States demands goods and services produced in the United States” (O’Sullivan, pg. 586). “On the other hand, an increase in imports means that there’s an increase in foreign goods purchased by the U.S. residents” (O’Sullivan, pg. 586). References: O’Sullivan, Arthur. (2006). Economics: principles and tools. (4th Ed.). Upper Saddle River, New Jersey. United States public debt. Retrieved from...
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...crisis of 2007–08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s. It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity". Many causes for the financial crisis have been suggested, with varying weight assigned by experts.The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation...
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...Public Debt 8 Recent developments with regard to the sovereign debt situation of countries ranging from Iceland to the United Arab Emirates, and more recently, of countries in the Euro‐zone, most prominently Greece, have been a rude awakening for global financial markets. After a protracted period of benign neglect, policymakers as well as investors are beginning to scrutinize more carefully the health of sovereign public finances. Lessons from previous debt crises are being re‐learnt. Escalating public debt does not bode well for macro‐economic stability and growth as it exerts upward pressure on interest rates and crowds‐out domestic private investment. For developing countries, the higher interest cost associated with domestic debt places a substantial strain on budgetary resources, with a negative spill‐over effect on social sector and development outlays and a slowdown in growth momentum. For external debt, creditors may charge a lower interest rate (as is the case with most multilateral and bilateral donors), but the exchange rate risk inherent in the accumulation of foreign currency debt leaves a country vulnerable to developments on the external account and in international markets. Therefore, policymakers are faced with choices not only of what levels of public debt to accumulate, but also the composition of the portfolio with regards to source...
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...states, “Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction” ( “Primary Documents in…”). Interesting, almost 149 years later, and with many Americans in debt today, the above words, can only suggest one thing; perhaps slavery or involuntary servitude is not dead but has only taken on a more disguised form. Although the above may be true, some believe debt is not slavery but a financial hardship brought about by one's own actions. With statics showing that the American public holds the bulk of the seventeen trillion dollar, deficits (The Debt to…); and that only 32 percent of Americans actually budget (Jacobe), one can come to believe this is true. That it is the public’s fault for not budgeting. For this reason, it is necessary that we diligently research and investigate past and present evidence to educate ourselves on the national debt crisis, so that we could shed some light on the root cause. First all, we will need to understand eccentric statistics on how many Americans are actually affected by debt today. According to Michael A. Fletcher of The Washingstonpost.com, three out five workers’ mortgages, credit card balances and installment loans are outpacing the amount of money they are able to save for retirement. In addition, Bill Fay of Debt.org acknowledges, that the more than 160 million Americans with...
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...econstor www.econstor.eu Der Open-Access-Publikationsserver der ZBW – Leibniz-Informationszentrum Wirtschaft The Open Access Publication Server of the ZBW – Leibniz Information Centre for Economics Faulkender, Michael; Petersen, Mitchell A. Working Paper Does the source of capital affect capital structure? CSIO working paper, No. 0054 Provided in Cooperation with: Department of Economics - Center for the Study of Industrial Organization (CSIO), Northwestern University Suggested Citation: Faulkender, Michael; Petersen, Mitchell A. (2004) : Does the source of capital affect capital structure?, CSIO working paper, No. 0054 This Version is available at: http://hdl.handle.net/10419/38692 Nutzungsbedingungen: Die ZBW räumt Ihnen als Nutzerin/Nutzer das unentgeltliche, räumlich unbeschränkte und zeitlich auf die Dauer des Schutzrechts beschränkte einfache Recht ein, das ausgewählte Werk im Rahmen der unter → http://www.econstor.eu/dspace/Nutzungsbedingungen nachzulesenden vollständigen Nutzungsbedingungen zu vervielfältigen, mit denen die Nutzerin/der Nutzer sich durch die erste Nutzung einverstanden erklärt. zbw Leibniz-Informationszentrum Wirtschaft Leibniz Information Centre for Economics Terms of use: The ZBW grants you, the user, the non-exclusive right to use the selected work free of charge, territorially unrestricted and within the time limit of the term of the property rights according to the terms specified at → http://www.econstor.eu/dspace/Nutzungsbedingungen...
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...International Finance May 10, 2015 U.S International Debt Please look at the International part of the U.S. Government debt and discuss, 1) why the country has had to rely on International lenders, 2) why the situation with the International lenders may have caused the U.S. Federal Reserve System to initiate Quantitative Easing, and 3) give your opinion of the possible future state of the U.S. economy as it relies on International lenders. This future state should cover government issues, corporate issues, and individual issues. The history of international lending to developing countries shows surges of lending and recurrent financial crisis. Consequently, international lenders have proved to be very important entities during financial crisis. In my personal opinion the United States government has had to rely on international lenders to enable higher spending without having to increase taxes and to meet the debt that the government has created during the past several decades looking forward to recover and stabilize the economy. From the beginning of the early 1990s, the United States has borrowed heavily and continuously money from international lenders and from its trading partners due to the crisis that the United States economy has been experiencing since the recession. Developing countries can be at a disadvantage when it comes to borrowing funds from international lenders. From my point of view, problems can arise when governments do not have the knowledge and experience...
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