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Helping the Poor to Help Themselves: Debt Relief or Aid?

Serkan Arslanalp and Peter Blair Henry

in Sovereign Debt at the Crossroads: Challenges and Proposals for Resolving the Third World Debt Crisis

Published in print:
2006
Published Online:
May 2006
ISBN:
9780195168006
eISBN:
9780199783458
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195168003.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter discusses the central economic question of debt relief: does debt relief work to promote economic growth? This seemingly straightforward question — often taken for granted by debt ... More


Which Truth? The Power of Numeric Indicators and Probabilistic Reasoning about Public Debt

Kenneth Dyson

in States, Debt, and Power: 'Saints' and 'Sinners' in European History and Integration

Published in print:
2014
Published Online:
August 2014
ISBN:
9780198714071
eISBN:
9780191782558
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198714071.003.0015
Subject:
Political Science, European Union

This chapter considers the nature of the discourse about public debt, from the two perspectives of political legitimacy and of financial markets. It analyses and assesses the power of numeric ... More


Financial Development and the Credit Cycle in Greece1

Michael Haliassos, Gikas Hardouvelis, Margarita Tsoutsoura, and Dimitri Vayanos

in Beyond Austerity: Reforming the Greek Economy

Published in print:
2017
Published Online:
May 2018
ISBN:
9780262035835
eISBN:
9780262339216
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035835.003.0007
Subject:
Economics and Finance, International

This chapter reviews the developments in Greece's financial system since the beginning of the crisis. The chapter places them in a broader context by (i) evaluating the long-term performance of ... More


Policy Response in Advanced Economies: Neo-liberal Fallacies and Obsessions

Yilmaz Akyüz

in Playing with Fire: Deepened Financial Integration and Changing Vulnerabilities of the Global South

Published in print:
2017
Published Online:
July 2017
ISBN:
9780198797173
eISBN:
9780191838668
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198797173.003.0001
Subject:
Economics and Finance, Financial Economics, Development, Growth, and Environmental

The world economy is in a bad shape, largely because of misguided policies in the United States and Europe in response to the crisis. The crisis is taking too long to resolve, leading to unnecessary ... More


Misallocation of Investment in Europe: The Role of Debt Overhang and Credit Market Distress

Francesca Barbiero, Philipp-Bastian Brutscher, Atanas Kolev, Alexander Popov, and Marcin Wolski

in Finance and Investment: The European Case

Published in print:
2018
Published Online:
January 2018
ISBN:
9780198815815
eISBN:
9780191853418
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198815815.003.0003
Subject:
Economics and Finance, Financial Economics

Using a pan-European, firm-bank matched data set, we find weak evidence of investment misallocation in Europe. Firms with higher debt overhangs invest significantly less, in particular in sectors ... More


Debts, Human Rights, and the Rule of Law: Advocating a Fair and Efficient Sovereign Insolvency Model

Kunibert Raffer

in Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises

Published in print:
2016
Published Online:
January 2017
ISBN:
9780231179263
eISBN:
9780231542029
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231179263.003.0016
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 15: The shortcomings of the present international financial architecture and the limits of the contractual approach were forcefully recalled recently. Starting from the UN’s demand for ... More


Leverage and Bubbles: The Need to Manage the Leverage Cycle

John Geanakoplos

in New Perspectives on Asset Price Bubbles

Published in print:
2012
Published Online:
April 2015
ISBN:
9780199844333
eISBN:
9780190258504
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199844333.003.0015
Subject:
Business and Management, Finance, Accounting, and Banking

This chapter examines leverage as a major cause of asset price bubbles. It outlines four reasons why the most recent leverage cycle was worse than previous cycles. First, leverage reached levels ... More


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