Fachrichtung: Finanzwissenschaft
<< zurück zur Übersicht
An EMF with a Sovereign Insolvency Mechanism
Greece?s catastrophe has revived the idea of sovereign insolvency. Probably due to the no-bailout rule, even quarters highly inimical to it before could suddenly imagine this solution. Technically, (...)
Debt Management: Issues, Options and Challenge for Developing Countries
This paper draws attention to some important problems and shortcomings in international debt
management, focusing on some issues that are extremely important to debtor countries. These
International Financial Institutions and Accountability
The Need for Drastic Change
International Financial Institutions (IFIs) are a singular and alien element within market economies. Their decisions are totally delinked from financial accountability. Strongly determining their (...)
Looking a Gift Horse in the Mouth
Analysing Donors' Aid Statistics
Claiming that its definition of Official Development Assistance (ODA) has remained unchanged, the OECD concedes changes in interpretation ?broadening? the concept's scope. Breaks in continuity, (...)
Measuring the Real Debt Burden: Proposing a New Debt Indicator
In order to assess the problem of a debt overhang more appropriately, a new debt indicator is proposed that solves the ambiguity of traditional debt indicators. Debt service Ratios and Interest (...)
Reforming the Bretton Woods Institutions
There is an urgent need of fundamental reforms of IBRD and IMF. However, before any meaningful reform can be envisaged it is necessary to enforce respect of statutory obligations by these (...)
Social Expenditure, Pension Systems, and Neoliberalism
While decreasing the role of the State as such is part and parcel of neoliberal ideology, another aspect does not seem to have received appropriate attention. The welfare state has created high (...)
Spanien vor Finanzkrise
Auf dem spanischen Wohnungsmarkt hat sich in den letzten 10 Jahren nicht zuletzt wegen der Zugehörigkeit Spaniens zum Euro- Raum eine starke Immobilienblase entwickelt, die nun am Platzen ist. Dies (...)
Tax-Deductible Loan Loss Reserves and International Banking
An Economist's Unbiased Analysis
This paper discusses tax deductibility of loan loss reserves, focussing on costs to the budget, hence taxpayers. Economically, reserves bring book values in line with real, impaired values of claims. (...)
The Final Demise of Unfair Debtor Discrimination?
Comments on Ms Krueger's Speeches
Krueger?s proposal to "mimick" domestic insolvency laws marked the abrupt end of the IMF?s fierce opposition against sovereign insolvency. It was a full U-turn regarding the Fund?s views on sovereign (...)
The Present State of the Discussion on Restructuring Sovereign Debts: Which Specific Sovereign Insolvency Procedure?
The paper discusses the four proposals presently on the table: Collective Action Clauses, a voluntary Code of Good Conduct for debt re-negotiation, and two models of sovereign insolvency: the IMF?s (...)
Zur gesamtwirtschaftlichen Bedeutung der Finanzberatung
Die aktuelle Finanzkrise zwingt die Gesellschaft zu einem Umdenken in vielen Bereichen.
Nicht nur die Banken, sondern auch die Wissenschaft und die Politik stehen vor der Aufgabe,
sich (...)