The Effect of Financial Risks on Foreign Debt Capital Flow to Economic Infrastructure Projects in Kenya: An Anchoring and Adjustment Lens of Carbon Risk Premia Additivity

2021 ◽  
Author(s):  
Salome Oyuga ◽  
Professor Edward Ochieng ◽  
Geoffrey Ngene
Keyword(s):  
Foreign Debt ◽  
Risk Premia ◽  
Capital Flow ◽  
Financial Risks ◽  
Infrastructure Projects ◽  
Anchoring And Adjustment ◽  
Debt Capital ◽  
Economic Infrastructure

scholarly journals DO NATURAL DISASTERS INCREASE FINANCIAL RISKS? AN EMPIRICAL ANALYSIS

2020 ◽  
Vol 23 ◽  
pp. 61-86 ◽  
Author(s):  
Li Wan Zhang ◽  
Chun-Ping Chang
Keyword(s):  
Panel Data ◽  
Financial Crisis ◽  
Natural Disasters ◽  
Empirical Analysis ◽  
Low Income ◽  
Foreign Debt ◽  
Oecd Countries ◽  
Financial Risks ◽  
Negative Effects ◽  
Unbalanced Panel Data

Using an unbalanced panel data consisting of deaths from natural disasters and fivefactors of financial risks in 136 countries, this paper analyzes the effect of naturaldisasters on different financial risks. The conclusions are as follows: (1) naturaldisasters lead to financial crisis by reducing GDP and trade and increasing domesticand foreign debt; (2) the effects of natural disasters on financial risks are dynamic andlong term, with the effect weakening with time; and (3) the negative effects of naturaldisasters on financial risks in high-income and OECD countries are smaller than thoseof low-income and non-OECD countries.

The historiography of the 1931 crisis in Germany

2011 ◽  
Vol 52 (2) ◽  
Author(s):  
Carsten Burhop
Keyword(s):  
Public Finance ◽  
Gold Standard ◽  
Foreign Debt ◽  
Foreign Bank ◽  
Capital Flight ◽  
Bank Debt ◽  
Lender Of Last Resort ◽  
Short Term ◽  
Debt Capital ◽  
The Government

AbstractIn this article, I review the key research contributions written on the German financial crisis of 1931. After four decades, consent about the origins and course of the crisis has still not been reached, since a set of disentangled factors - reparations, short-term foreign bank debt, the design of the gold standard, and the behaviour of individual banks - all contributed to the crisis. It seems that the 1931 crisis was caused by the pressure of reparations in combination with substantial private foreign debt. Capital flight set in when the government announced it was unable to pay its reparations. The Reichsbank lost its reserves and was unable to act as lender of last resort when a bank failed shortly after the reparations crisis. As well as describing the literature, I also present some new insights from the archives. It seems that the Reichsbank thought the crisis to be over at the end of June 1931, that it was worried about the state of public finance, and that it was badly informed about the banks’ short-term foreign debt.

Selection Criteria for PPP Projects: Determinants of Value Generation in the Use of Public Resources (Value for Money)

2021 ◽  
Author(s):  
Javier Villa Zárate ◽  
Daniel Vieitez Martínez ◽  
Carlos Mondragón ◽  
Miguel Á. Martínez ◽  
Jaime Pérez
Keyword(s):  
Latin America ◽  
Best Practices ◽  
Selection Criteria ◽  
Knowledge Exchange ◽  
Lessons Learned ◽  
Infrastructure Projects ◽  
Discussion Paper ◽  
Public Resources ◽  
The Caribbean ◽  
Economic Infrastructure

The Discussion Papers PPP Americas 2021 are a series of documents written to prepare for PPP Americas tenth edition. The event is the most important forum on Public-Private Partnerships (PPP) of Latin America and the Caribbean (LAC), organized every two years by the Inter-American Development Bank (IDB). Driven by PPP Americas 2021, we gathered eight thematic groups were, with specialists, professionals, consultants, and scholars engaged directly in the preparation, identification, structuration, and management of PPP infrastructure projects in countries of the region. IDB specialists coordinated the groups to review the main hot topics on PPP projects for social and economic infrastructure, aiming to exchange experiences, debate successful cases and lessons learned. The present Discussion Paper, “Selection Criteria for PPP Projects,” collects the main conclusions and recommendations discussed by the group and intends to consolidate a knowledge exchange environment in infrastructure and PPP inside the region, offering best practices on infrastructure projects selection and value generation in the use of public resources in Latin America and the Caribbean.

scholarly journals Financial support of critical infrastructure

2021 ◽  
Vol 2021 (5) ◽  
pp. 111-128
Author(s):  
Vasyl KUDRJASHOV ◽  
Keyword(s):  
Financial Support ◽  
Critical Infrastructure ◽  
Private Investment ◽  
Financial Intermediaries ◽  
Financial Risks ◽  
Infrastructure Projects ◽  
Foreign Countries ◽  
Financing Infrastructure ◽  
The Impact ◽  
Smooth State

An analysis of the experience of financial support for the formation and development of critical infrastructure in foreign countries has been carried out. It is noted that the critical infrastructure provides the necessary services in various fields to maintain their smooth state. It is determined that its financing is carried out by attracting resources from various sources, which include public, private and mixed (public-private) projects, as well as funds of financial intermediaries. Mechanisms for financing critical infrastructure used in foreign countries are revealed. Considerable attention is paid to the issues of regulation operations of financial support for the functional capacity of critical infrastructure. Issues of financial risks of critical services and the factors that affect them are covered. It is noted that to limit them, portfolio approaches have been introduced to place the mobilized resource in infrastructure projects, as well as measures of state and non-state support are applied (guarantees, insurance programs, granting preferences, etc.). Particular attention is paid to the impact of the Covid-19 pandemic on the application of financial support for critical infrastructure upgrades and provision of critical services. It is noted that such changes require a significant increase in costs for increasing investment activities in infrastructure, support for private investment, improving the attraction of funds of specialized financial companies to invest in infrastructure projects. The mechanisms implemented in order to solve such problems are identified. Recommendations are given to take into account the experience of foreign countries in the application of measures to finance critical infrastructure in Ukraine. Keywords: critical infrastructure, critical services, infrastructure financing, infrastructure financing risks, public-private partnership, debt instruments, guarantees and benefits for infrastructure financing.

scholarly journals Peran Sukuk Terhadap Pembangunan Infrastruktur

2020 ◽  
Vol 17 (1) ◽  
pp. 87-103
Author(s):  
Robin ◽  
Diah Putri Febiana Sari ◽  
Kharis Fadhullah Hana
Keyword(s):  
Literature Review ◽  
Qualitative Methods ◽  
Foreign Debt ◽  
Secondary Data ◽  
Positive Contribution ◽  
Infrastructure Development ◽  
Infrastructure Projects ◽  
Financial Instrument ◽  
The Government

Infrastructure development with Sukuk is currently developing rapidly. Sukuk are bonds based on Islamic principles. Sukuk have lower refund rates compared to interest-based bonds. This study aims to explain the role of Sukuk in infrastructure development in Indonesia. This research uses qualitative methods that are analyzed descriptively. With secondary data derived from the literature review in the form of the results of previous studies, documents from valid institutions or institutions, news, and other supporting sources. The results show that Sukuk is an important financial instrument applied in infrastructure development and has a positive contribution to infrastructure development. Since it was published until February 13, 2020, the accumulation of SBSN issuance results has reached Rp. 1,253.4 T. The results of the issuance of the Sukuk were used by the government to finance various infrastructure projects in Indonesia. So the Government can maximize the potential of Sukuk as an alternative to infrastructure financing and start reducing dependence on foreign debt in infrastructure financing

FOREIGN FINANCING, EXCHANGE RATE EXPOSURES AND CORPORATE INVESTMENT IN SINGAPORE

2021 ◽  
pp. 1-21
Author(s):  
BEN CHAROENWONG ◽  
ANISAH BTE ABDUL RAHMAH ZAMAWI
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Yield Curve ◽  
Foreign Debt ◽  
Corporate Investment ◽  
Cost Of Debt ◽  
Reduced Form ◽  
Debt Capital ◽  
Order Of Magnitude ◽  
The Cost

We study the effect of exchange rate fluctuations on foreign corporate investment flows to Singaporean firms using a linear reduced-form empirical specification on data from the past decade. Overall, we find that the cost of debt capital falls on average when the Singapore dollar depreciates. Isolating the effect of exchange rates on US-denominated debt vis-a-vis interest rates and yield curve variables shows that an increase in the cost of foreign debt capital through exchange rate changes leads to lower investment, albeit only slightly and an order of magnitude less important than short-term government bond yields.

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