Search Results - subject:"Budget constraints"

Indian Subnational Finances; Recent Performance

Prasad, A.; Kishore, Adarsh - International Monetary Fund (IMF) - 2007

The fiscal performance of the States in India has been an area of concern for quite some time. The Twelfth Finance Commission (TFC) recommended a three-pronged strategy to alleviate States' fiscal distress, built around greater orientation toward market discipline, incentives for fiscal...

Persistent link: https://www.econbiz.de/10005826330

International Evidenceon Fiscal Solvency; Is Fiscal Policy "Responsible"?

Mendoza, Enrique G.; Ostry, Jonathan David - International Monetary Fund (IMF) - 2007

This paper looks at fiscal solvency and public debt sustainability in both emerging market and advanced countries. Evidence of fiscal solvency, in the form of a robust positive conditional relationship between public debt and the primary fiscal balance, is established in both groups of...

Persistent link: https://www.econbiz.de/10005264206

Financial constraints in economic transition: Empirical evidence from Ukrainian large farms

Zinych, Nataliya; Odening, Martin; Huettel, Silke - European Association of Agricultural Economists - EAAE - 2007

is to reveal the evidence of the both phenomena, soft budget constraints and credit rationing, investigating investment …-samples reveal a dissimilar level of financial constraints. We confirm the presence of the soft financial environment (soft budget … constraints) for the Ukrainian large farms being in an unconstrained financial regime. The farms belong to this regime if they …

Persistent link: https://www.econbiz.de/10005330942

Peru; First Review Under the Stand-By Arrangement: Staff Report; Staff Statement Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru

International Monetary Fund (IMF); International … - 2007

This paper presents Peruâ€™s First Review Under the Stand-By Arrangement for SDR 172.37 million approved on January 26, 2007. Implementing sound macroeconomic policies and reforms would reduce vulnerabilities, entrench sustainable growth, and reduce poverty, setting the stage for a strong...

Persistent link: https://www.econbiz.de/10011242602

Finland; 2007 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland

International Monetary Fund (IMF); International … - 2007

This 2007 Article IV Consultation highlights that growth in Finland has outpaced the euro area average. Inflation is among the lowest in the European Union, and the external current account and general government budget are both comfortably in surplus. The labor market has improved markedly...

Persistent link: https://www.econbiz.de/10011243836

Size and Soft Budget Constraints

Crivelli, Ernesto; Staal, Klaas - 2006

There is much evidence against the so-called "too big to fail" hypothesis in the case of bailouts to sub-national governments. We look at a model where districts of different size provide local public goods with positive spillovers. Matching grants of a central government can induce...

Persistent link: https://www.econbiz.de/10010263174

Sub-National Optimal Budget Allocation and Borrowing under Soft Budget Constraint

Crivelli, Ernesto - 2006

Local governments have borrowed largely from the banking system to finance their deficits instead of responding to the rigors of bond markets. This paper analizes how sub-national governments optimally reallocate the provision of public goods and decide on borrowing, in a model where the banking...

Persistent link: https://www.econbiz.de/10010263180

Forbearance lending and soft budget constraints in a model of multiple heterogeneous bank financing

Schüle, Tobias - 2006

writing of their non-performing loans. Such forbearance lending may induce soft budget constraints for the debtors, as it … relationship bank affects the incidence of forbearance lending and soft budget constraints by signaling its credit decision to … lending and infuences the conditions under which debtors face soft budget constraints. …

Persistent link: https://www.econbiz.de/10010301816

Size and soft budget constraints

Crivelli, Ernesto; Staal, Klaas - 2006

There is much evidence against the so-called too big to fail hypothesis in the case of bailouts to sub-national governments. We look at a model where districts of different size provide local public goods with positive spillovers. Matching grants of a central government can induce...

Persistent link: https://www.econbiz.de/10010333869

The Impacts of "Shock Therapy" on Large and Small Clients: Experiences from Two Large Bank Failures in Japan

Fukuda, Shin-ichi; Koibuchi, Satoshi - Center for Economic Institutions, Institute of Economic … - 2006

face "soft budget constraints". We then show that the different therapies made performances of these two banks' customers …. In contrast, under the soft budget constraints, large firms did not show recovery and small firms experienced significant …

Persistent link: https://www.econbiz.de/10005045185