scholarly journals Sustainable Financing for Sustainable Development: Understanding the Interrelations between Public Investment and Sovereign Debt

2018 ◽  
Vol 10 (11) ◽  
pp. 3901 ◽  
Author(s):  
Ibrahim Ari ◽  
Muammer Koc
Keyword(s):  
Sustainable Development ◽  
Public Debt ◽  
Sovereign Debt ◽  
Financial Models ◽  
Public Investment ◽  
The United States ◽  
Evidence Based ◽  
Public Infrastructure ◽  
Quantitative Evidence ◽  
Sustainable Financing

This study investigates the causal relationship between public investment and sovereign debt (i.e., external and domestic public debt) with respect to the limits of public-debt sustainability for four countries with the highest GDP (i.e., the United States, China, Japan, Germany) during the period of 2000–2015. In summary, this study establishes quantitative evidence based on empirical findings to support the claim that sovereign debt is harmful to the financing of public infrastructure if it breaches certain thresholds, as proposed in this study, and according to the literature. By this approach, the findings enable us to make recommendations about the need for mobilizing domestic resources and innovating new financial models to promote sustainable development within the limits of sustainable public debt. In short, this paper concludes that performing a project for sustainable development by implementing unsustainable financing models will always end up with unsustainable economic outcomes.

scholarly journals Impact of Public Debt, Deficit and Debt Financing on Private Investment in a Large Country: Evidence from the United States

2020 ◽  
Vol 6 (2) ◽  
pp. 139-161
Author(s):  
Amir Kia
Keyword(s):  
Public Debt ◽  
Public Investment ◽  
Government Expenditure ◽  
Private Investment ◽  
Adjustment Costs ◽  
The United States ◽  
Direct Impact ◽  
Large Country ◽  
Long Run ◽  
Short Run

This paper analyses the direct impact of fiscal variables on private investment. The current literature ignores one or more fiscal variables and, in many cases, the foreign financing of debt. In this paper, an aggregate investment function for an economy in which firms incur adjustment costs in their investment process is developed. The developed model incorporates the direct impact of government expenditure, public debt and investment, deficits and foreign-financed debt on private investment. The model is tested on US data. It is found that public investment does not have any impact on private investment, but government expenditure, deficit, debt and foreign-financed debt crowd out private investment over the long run. However, deficit crowds in the private investment over the short run.

The Case of Public Capital Budgeting and Management Processes in the United States

2019 ◽  
pp. 23-48 ◽  
Author(s):  
Natalia B. Ermasova ◽  
Carol Ebdon
Keyword(s):  
United States ◽  
Public Investment ◽  
Public Capital ◽  
Capital Budgeting ◽  
The United States ◽  
Federal State ◽  
Public Infrastructure ◽  
Positive Theory ◽  
State And Local ◽  
Main Components

This chapter provides a case study from the United States regarding public capital budgeting and management on the federal, state, and local levels. The U.S. case of the public investment process (or positive theory for United States public investment) is described and compared with the normative theory outlined in Chapter 1 to understand the deviation between the positive and normative theories. This chapter presents an analysis of four main components of the USA capital budgeting system including (1) long-term public capital planning, (2) annual public budgeting and financing, (3) project execution, and (4) public infrastructure evaluation. In addition, this chapter shows public infrastructure needs and financing issues in the United States.

INVESTING IN PUBLIC INFRASTRUCTURE: ROADS OR SCHOOLS?

2019 ◽  
pp. 1-30 ◽  
Author(s):  
Manoj Atolia ◽  
Bin Grace Li ◽  
Ricardo Marto ◽  
Giovanni Melina
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Equilibrium Model ◽  
Developing Economies ◽  
Thought Experiment ◽  
Public Investment ◽  
Scale Up ◽  
Public Infrastructure ◽  
Dynamic General Equilibrium Model ◽  
The Government

Why do governments in developing economies favor roads rather than schools in public investment scale-ups? We study this question using a dynamic general equilibrium model and argue that the different pace at which roads and schools contribute to economic growth, public debt intolerance, and political myopia are central to this decision. In a thought experiment with a large return differential in favor of schools, a benevolent government would intuitively devote the majority of an investment scale-up to them. However, the fraction of schools chosen by the government falls with increasing levels of debt intolerance and political myopia. In particular, political myopia is a meaningful explanation for the observed result to the extent that an extremely myopic government would not invest in schools at all.

scholarly journals How Does Public Deficit Affect Public Investment in Senegal?

2017 ◽  
Vol 2 (1) ◽  
pp. 1-11
Author(s):  
Cheikh Tidiane Ndour
Keyword(s):  
Public Debt ◽  
Public Investment ◽  
Interaction Model ◽  
Public Infrastructure ◽  
Public Deficit ◽  
Stability Pact ◽  
Endogenous Growth Model ◽  
The Stability ◽  
The Impact

Purpose: This paper proposes an assessment of the non-linear relationship between public deficit and public investment in debt situation.Methodology: We use an endogenous growth model, with productive public spending, that we test empirically using the interaction model of Brambor et al. (2002), over the period 1980-2015, in Senegal.Results: The results of the estimates show a change in the regime of the relationship between public investment and public deficit for public debt level equal to 80% of GDP. When public debt is below this threshold, any increase in the deficit has an expansive effect on public infrastructure spending. When public debt is above the threshold of 80% of GDP, an increase in the deficit has a recessive effect on public investment.Policy recommendation: An important contribution of this study is to show that the PCSCS implemented in the WAEMU zone cannot register only in a nominal sense to inking with the euro. The budgetary rules laid down in the Stability Pact should be studied in depth. The study would benefit from further study. One of the extensions of this study would be to determine the impact of this debt threshold of 80% on long-term economic growth in Senegal.

The Speech-Language Assessment of English Language Learning Students: A Non-Standardized Approach

2013 ◽  
Vol 14 (4) ◽  
pp. 95-101 ◽  
Author(s):  
Robert Kraemer ◽  
Allison Coltisor ◽  
Meesha Kalra ◽  
Megan Martinez ◽  
Bailey Savage ◽  
...  
Keyword(s):  
Language Learning ◽  
Language Impairment ◽  
Specific Language Impairment ◽  
English Language ◽  
Language Assessment ◽  
The United States ◽  
English Language Learning ◽  
Assessment Practices ◽  
Evidence Based ◽  
English Speaking

English language learning (ELL) children suspected of having specific-language impairment (SLI) should be assessed using the same methods as monolingual English-speaking children born and raised in the United States. In an effort to reduce over- and under-identification of ELL children as SLI, speech-language pathologists (SLP) must employ nonbiased assessment practices. This article presents several evidence-based, nonstandarized assessment practices SLPs can implement in place of standardized tools. As the number of ELL children SLPs come in contact with increases, the need for well-trained and knowledgeable SLPs grows. The goal of the authors is to present several well-establish, evidence-based assessment methods for assessing ELL children suspected of SLI.

440: Barriers to the Practice of Evidence Based Urology in the United States

2007 ◽  
Vol 177 (4S) ◽  
pp. 147-148
Author(s):  
Philipp Dahm ◽  
Hubert R. Kuebler ◽  
Susan F. Fesperman ◽  
Roger L. Sur ◽  
Charles D. Scales ◽  
...  
Keyword(s):  
United States ◽  
The United States ◽  
Evidence Based

Refining Evidence-Based Treatments for Late-Life Depression

GeroPsych ◽  
2015 ◽  
Vol 28 (2) ◽  
pp. 67-76
Author(s):  
Grace C. Niu ◽  
Patricia A. Arean
Keyword(s):  
Older Adults ◽  
Mental Illness ◽  
Brain Plasticity ◽  
Late Life ◽  
Aging Population ◽  
The United States ◽  
Future Research ◽  
Evidence Based ◽  
Late Life Depression ◽  
Evidence Based Treatments

The recent increase in the aging population, specifically in the United States, has raised concerns regarding treatment for mental illness among older adults. Late-life depression (LLD) is a complex condition that has become widespread among the aging population. Despite the availability of behavioral interventions and psychotherapies, few depressed older adults actually receive treatment. In this paper we review the research on refining treatments for LLD. We first identify evidence-based treatments (EBTs) for LLD and the problems associated with efficacy and dissemination, then review approaches to conceptualizing mental illness, specifically concepts related to brain plasticity and the Research Domain Criteria (RDoc). Finally, we introduce ENGAGE as a streamlined treatment for LLD and discuss implications for future research.

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

Assessment and analysis of efficiency system management by innovative factors for sustainable development of national economy from the position satisfaction of vital interests population in Ukraine

2019 ◽  
pp. 6-16
Author(s):  
Оксана Василівна Бондар-Підгурська ◽  
Алла Олександрівна Глєбова
Keyword(s):  
Sustainable Development ◽  
Human Development ◽  
National Economy ◽  
Public Debt ◽  
Methodological Approach ◽  
State Regulation ◽  
Point Of View ◽  
Financial Policy ◽  
System Management ◽  
Stage Of Development

The scientific and methodological approach to the evaluation and analysis of the efficiency of system management by innovation factors for sustainable development of national economy from the point of view satisfaction vital interest’s population is developed. This is the calculation of the modernized index human development based on the adjective model based on 26 indicators (social, economic and environmental subsystems), as well as using the methods of the main components and the slip matrix. The resultant value is the modernized Human Development Index (MHDІ) of Ukraine. The architectonics MHDІ of Ukraine in 2007–2017 from the position of sub-indices of the ecological, social and economic subsystems is analyzed. Consequently, the scientific and methodological approach based on the MHDI change allows us to draw conclusions regarding the effectiveness of the work and public administration bodies in the context of making managerial decisions regarding the satisfaction of the vital interest’s population. MHDI considers the main regulated parameter of the system management in the innovation factors of sustainable development in socially oriented economy. The tendency of steady decline MHDI of Ukraine in 2007–2017 on 53.45 % was confirmed, which confirms inefficient state regulation of crisis situations in Ukraine. In order to increase the efficiency management of innovative factors by sustainable development of the national economy, from the standpoint of satisfaction vital interest’s population, it is proposed to intensify the use of public debt and savings bonds, market and non-market methods of relief and debt load. This is due to the fact that at the current stage of development in the national economy, public external debt is one of the most significant indicators of the state economy. It is at the same time a criterion for the effectiveness of public financial policy, as well as a threat and opportunity for the Ukrainian economy. In order to optimize its size, various methods, approaches, tools are used. Based on the analysis of world experience, it has been established that the securities market, in particular debt securities, plays a strategic role in regulating this issue. Therefore, it makes sense to recommend government debt bonds and government savings bonds to optimize the amount of external public debt.

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