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Debt Relief: Helping or Hindering?, 2007.
This paper explores the controversial issue of providing debt relief to developing countries.
3,015 words (approx. 12.1 pages), 7 sources, MLA, $ 88.95
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Abstract
The paper discusses the policy of providing debt relief for poor countries, especially African countries. The paper explains how many believe that as wealthy countries hand out vast sums of foreign aid, they also put up enormous barriers to trade. Moreover, poor countries must take the lead in their own development and it is not beneficial for rich and powerful countries to control the environment in which poorer countries operate. The paper describes how finance ministers from the Group of Eight nations met to advance a G-8 debt relief initiative for poor countries. The paper maintains that the issue of aid and debt relief for the world's poorest nations will be on the G-8 agenda for years to come and will undoubtedly remain an issue of debate among politicians and economists.
From the Paper
"The total African debt, excluding South Africa, reached $285.5 billion more than a decade ago, in 1993 (Sonko). This total comprised $118.9 billion for North Africa and $166.5 billion for Sub-Saharan Africa, SSA, and these figures represented changes of 3 percent in the total regional debt, a decline of 0.5 percent in that of North Africa and a 6 percent increase in that of SSA, since 1990 (Sonko). The total debt in 1993 represented only 16 percent of total developing country debt (Sonko). However, the magnitude of what is generally recognized as the "African debt burden" becomes clearer from the ratios that express the debt in relation to certain key economic variables (Sonko). Thus, in 1993 the debt/GDP ratio, which measures the debt in relation to the total economic output of a nation, equaled 73.3 percent for North Africa and 123.1 percent for Sub-Saharan Africa (Sonko). This means, for example in the case of SSA, the debt owed far exceeds the total value of goods and services of the entire region (Sonko). Therefore, as Dr. Karamo Sonko reported in the October 01, 1994 issue of African Business, that the "entire economy of Africa can be correctly regarded as less than adequate collateral for current and future debt"."
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Domestic Implications of Debt Relief, 2006.
A comprehensive analysis of the impact of debt relief on domestic social, political and economic conditions.
10,206 words (approx. 40.8 pages), 54 sources, MLA, $ 205.95
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Abstract
This paper reviews the impact of debt relief on domestic social, political and economic situations. According to this paper, the external debt situation for a number of low-income countries has become extremely difficult in recent years, prompting the IMF and the World Bank to design a framework to provide special assistance to the heavily indebted poor countries (HIPC).
Contents:
Introduction
Challenges and Future Policies
Diagnosis and Reflections on Poverty Reduction Policies
Poverty and Recession in Sub-Saharan Africa
Africa Deprived of Its Inheritance
The Urban Dynamics: Cities Suffer Most
Policy Design Post Evaluation
Conclusions
From the Paper
"As for the implementation of the strategies, the principle of participation from different members of society opens up new prospects that will have an impact on the way national affairs are led. By favouring respect for the right to information and expression, participation fulfils one objective in that it deals with one of the key factors of poverty, namely exclusion and marginalisation. But the potential impact of this precept goes way beyond this aspect. Participation will only take on its full meaning if it really helps solve the problem of the lack of democracy in poor countries. It should give extra capabilities and power to intermediate bodies (the media, trade unions, associations, etc.) in drawing up, monitoring, controlling, assessing and redirecting the policies. Information is of course of utmost importance in this respect, and its formative nature must be underlined. It makes public choices explicit and increases transparency in the management of state affairs, whilst offering the different players in society the possibility of exerting pressure, or even taking sanctions in the case of failure. In short, making the state accountable for its actions before its citizens is at stake."
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Debt Relief, 2007.
This paper explores whether debt relief addresses the needs of highly indebted countries.
2,468 words (approx. 9.9 pages), 6 sources, MLA, $ 75.95
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Abstract
The paper describes how for the last two decades, there have been efforts to lighten the debt burden of heavily indebted poor countries, (HIPC). The most recently enhanced HIPC initiative is believed to provide faster and deeper debt relief to these countries while encouraging them to use the funds saved to fight poverty and raise living standards. The paper discusses how the best way to lift the poor population in low-income countries out of poverty is to strengthen their economic growth. The paper concludes that these poor countries would realize greater benefit from receiving foreign aid than they would from debt forgiveness.
From the Paper
"By resolving the poor countries' debt crisis through these various initiatives, governments in wealthy countries have implicitly acknowledged a significant transfer of resources they have provided in the past to some of the poorest countries (Powell 2000). Exports of creditor countries were supplied but not ultimately paid for, and while there are strong arguments for transfers of resources to low-income countries, it is doubtful that this was the most effective means of providing them, since resources were directed at neither the most efficient projects nor the poorest people (Powell 2000)."
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Public Debt vs. Federal Debt, 2002.
A comparison of what public debt is vs. what federal debt is, and how it affects the economy.
2,100 words (approx. 8.4 pages), 15 sources, MLA, $ 65.95
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Abstract
This paper discusses how the government is just as effected at the economic crisis at the public and how both sections of the economy have been thrown into debt. The paper examines the differences between these two types of debts and discusses ways that the government can change policies and introduce reforms in order to end this cycle.
From the Paper
"The gross Federal debt is divided into two categories: debt held by the public, and debt the government owes itself. The first category, public debt, is the total of all federal deficits, minus surpluses, over the years. This is the money that the Federal Government has borrowed from the public, such as notes and bonds of varying sizes and time periods. This debt is held by individuals, corporations, state or local governments, foreign governments, and other entities outside of the US government. This does not include Federal Financing Bank securities. (A side note here: the Federal Financing Bank was established to ?consolidate and reduce the governments cost of financing a variety of federal agencies and other borrowers whose obligations are guaranteed by the Federal Government?.) (Public Debt Online) "
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Forgiving the Debt of Third World Countries, 2002.
A discussion of the worldwide program underway which will offer partial debt relief to some of the poorest countries in the world.
1,051 words (approx. 4.2 pages), 5 sources, MLA, $ 36.95
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Abstract
This paper discusses the new initiative named The Heavily Indebted Poor Countries (HIPC) Initiative, which was proposed by the World Bank and the International Monetary Fund in 1996 after it became obvious that not only were the world?s poorest countries unable to pay back loans made in the 1970s, but that the debt was creating a situation of increasing and continuing poverty. The paper discusses how the loaning systems of the 1970s were partially to blame for now ever-increasing debt and how this initiative will help re-establish economic autonomy is some of these third-world countries.
From the Paper
"The roots of the debt problem can be traced back to the lending policies of the 1970s, when high oil prices hit the developing countries hard; in order to keep their governments and economies going, they turned to richer countries, foreign banks and international organizations for loans. International lenders, flush with cash from ?petrodollars? from oil-producing states, assumed that sovereign debt was a good risk because there was a prevalent belief that governments do not default on their loans."
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International Debt Crisis, 2001.
This paper examines the real reasons behind the debt crisis faced by developing countries, focusing on the structural reasons for their continuing debt before turning to possible solutions.
2,950 words (approx. 11.8 pages), 12 sources, MLA, $ 87.95
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Abstract
Reasons for international debt are discussed with examples brought from Mexico and Brazil, oil exporters and oil importers; debt rescheduling; debt relief and first-world aid; the International Monetary Fund and the affect the IMF has had on poor countries. The two major methods of international reserve creation: the mining of gold and the acquisition of reserves in the form of key currencies are discussed along with their problems. Recent structural adjustment and debt relief are also examined, as well as the inability of poorer countries to pay their scheduled debt service and the Heavily Indebted Poor Countries Initiative and its problems. This leads to a discussion of macro-economic adjustment.
From the Paper
"The current climate of recession has highlighted the reasons for raising the calls for poor country debt relief. It is difficult to believe claims made by creditors that they cannot afford further debt relief. Canceling effectively unpayable debts owed by the poorest countries may turn out to be a sensible policy for all creditors. As well as the strong moral argument for debt relief, there could be sound financial grounds for doing so to stimulate the global economy and promote growth."
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Exploring Methods of Assessing State Debt Affordability, 2005.
A discussion of the problem and significance of state debt affordability, an analysis of the leading methods to measuring and controlling debt affordability at the state level, and recommendations to state debt managers.
4,861 words (approx. 19.4 pages), 6 sources, APA, $ 123.95
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Abstract
A state government's ability to balance the competing objectives of affordability, flexibility and capital demands can be challenging. One of the important objectives of a debt policy is to define the measures of debt affordability. This paper analyzes the prevailing literature on state debt affordability. It investigates the methods of debt affordability assessment that state governments currently practice and finds that states typically have an informal approach to addressing key policy elements regarding state debt and state debt managers often have no clear standard for measuring affordability. The writer presents two methods for addressing the problem of affordability: A generational model that attempts to determine how much debt is being shouldered by each generation and a relative affordability model that compares states' ratios of debt to resources available. In response to the literature, recommendations are made arguing for the importance of including affordability assessments in debt policy, the implementation of more formalized policies dealing with state debt affordability, the refinement of the generational model for use at the state level, and the use of the relative affordability model as a tool for debt managers.
From the Paper
"Debt has become one of the most important tools of contemporary state governments. It is used to finance a plethora of each state's ventures every year. Since 1975, the outstanding state debt has doubled nearly eight times, resulting in a $548 billion dollar tab as of the year 2000. Generally, this debt is non-guaranteed and issued by different entities created by the state which are not bound by traditional centralized oversight and control. This long-term debt is typically issued to finance capital expenses (Brecher, Richwerger, & Van Wagner, 2003). These capital expenses can take many forms, ranging from homeless shelters to sports stadiums and everything in between (Robbins & Dungan, 2001)."
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Debt Instruments, 1991.
This paper reviews traditional debt instruments including term loans, different types of bonds and debentures and analyzes the specific features of debt contracts: Zero coupon bonds, floating rate debt and junk bonds.
1,800 words (approx. 7.2 pages), 5 sources, $ 63.95
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From the Paper
"... deals with the topic of long-term debt. The chapter first presents an overview of traditional debt instruments including term loans, different types of bonds and debentures. Specific features of debt contracts are then analyzed including agency problems for bondholders, call provisions and sinking funds. Recent innovations in bonds are then discussed including zero coupon bonds, floating rate debt and junk bonds. The chapter concludes with a more detailed discussion of bond ratings and the factors which influence long-term financing decisions.
... defines a bond as a long-term contract under which ... "
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Taxes and the Federal Debt, 2002.
A paper which explores how cutting taxes might ultimately help the growing federal debt.
1,449 words (approx. 5.8 pages), 6 sources, APA, $ 48.95
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Abstract
The paper explores how cutting taxes may ultimately be an important strategy in reducing the federal debt of the United States. The federal debt has been a long standing concern of American citizens, politicians and economists. Today, the federal government faces a projected gross federal debt of $6,118,364 million in 2005. The paper shows how governments have traditionally taken the stance of increasing taxes or cutting spending in order to reduce the deficit. These attempts have largely failed due to unanticipated budget concerns. It explores how, in traditional attempts to reduce the debt, cutting taxes was thought to be a way to decrease national revenues, thus potentially increasing the debt. However, many economists are now considering that cutting taxes may help to stimulate the economy, paradoxically resulting in increased taxation revenue through higher employment and better wages. The paper examines how tax cuts may prove to be a way to increase revenues, thus potentially providing a means to reduce the federal debt. It also examines President Bush's Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, designed to cut taxes, reduce the debt, and stimulate the national economy.
From the Paper
"Critics however, argue that EGTRRA will ultimately fail. They note that misrepresentations in federal budgeting overestimate budget surpluses, including mistakes in long term costs of retirement programs from a budgeted $5.6 trillion to a mere 1.6 trillion. Further, they note that EGTRRA will reduce revenues through tax cuts. Ultimately, the critics argue that the combination of a decreased budget surplus and tax cuts will sink the EGTRRA (Gale and Potter).
If the critics are correct, and the EGTRRA fails, the government will be forced to increase taxes, reduce spending, or increase the public debt. As such, plans to reduce taxes may once again result in increased federal debt."
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Foreign Debt in Brazil, 2002.
Examines the economic and social consequences of foreign debt in Brazil, focusing on the Latin American Debt Crisis of 1995.
2,650 words (approx. 10.6 pages), 7 sources, $ 97.95
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Abstract
Brazilian economic development has been characterized by a series of boom and bust periods with little to be said in terms of sustainable development. Because of this, governments throughout the latter half of the 20th century have made efforts to guide development via economic diversity through forced industrialization. In relative terms, poverty inequality, foreign debt and inflation remain staggering. As an example, in 1995, Brazil's total outstanding foreign debt was 159 billion dollars. This has had significant repellant effects on foreign investment. During the Latin American Debt crisis in 1995, the pressures that were placed on the Brazilian economy could not be sustained. With an economy that was just starting to really grow, it could not repay the debts that it had accumulated during this crisis period. Like a bubble, the economy burst and Brazil continues to suffer the effects of a high reliance on foreign capital. This paper will look at the record of Brazilian economic development in terms of these and other important indicators.
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The Global Debt Crisis, 2008.
This paper discusses the the origins of the global debt crisis and its role in Nigeria.
2,490 words (approx. 10.0 pages), 7 sources, MLA, $ 75.95
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Abstract
This paper argues that the global debt crisis represents a means by which the developed world reasserts its former colonial control over the newly-independent nations of the developing world. The author points out that, by loaning these countries money, often to serve the interests of corrupt local elites, debt accumulates to the point that these countries are barely able to meet their interest charges on the debt. The paper relates that Nigeria represents an example of what political scientists term a "rentier state". The author contends that, in Nigeria, an oil-rich country in Africa, its debt represents a means by which the natural resources and wealth of the developing world can be brought under the effective control of the developed world. The paper concludes that debt can be seen as an instrument of neo-colonial domination and control that continues into the 21st century.
Table of Contents:
Introduction
The Collapse of Colonialism and the Creation of the "Third World"
Developing World Debt Becomes Critical
The Debt Crisis in Nigeria: Internal and External Factors
Conclusion
From the Paper
"However, in all of these nations there existed the understandable desire to develop as quickly as possible. One of the easiest means to achieve this end was to borrow from lenders in the developed world to fund development schemes. The nations of what was termed the "Third World" borrowed heavily in the post-independence era, and when the nations of the developed world slowed down their economies in the 1980s to combat inflation this severely damaged the economies of Third World nations that depended upon commodity exports for foreign exchange. Without this revenue, they were often unable to meet their debt payments."
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National Debt, 2002.
An analysis of the U.S. economy and levels of national debt.
1,150 words (approx. 4.6 pages), 5 sources, $ 44.95
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Abstract
A paper concerning the Nantionall Debt and its impact on the U. S. economy. As a nation of shoppers, most Americans are heavily in debt. How does all this debt affect the economy?
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Tsunami Relief Efforts, 2005.
This paper discusses the international policy of tsunami relief efforts.
1,125 words (approx. 4.5 pages), 5 sources, $ 44.95
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Abstract
This paper relates that the policy mandates of rebuilding efforts, proper financial monitoring in accounting practices for charitable organizations and disease control are the most important aspects of relief for tsunami relief efforts. The author points out that, by building homes cheaply yet with a solid foundation, there can be shelter for the homeless. The paper stresses that the proper control of donated money needs to be addressed through ethical accounting practices and making sure the money t gets to relief sites across India, Indonesia and Sri Lanka.
From the Paper
"This international policy analysis will reflect the goals of for disaster relief that should be implemented to help the thousands of people who perished in the tsunami. By analyzing rebuilding efforts, financial cost evaluation for relief, and the serious health issues that have arisen since the tsunami are the main goals to attend to at this critical point. In realizing how money is being spent for the relief of people stricken by the tsunami, one can develop policy suggestions that will help rebuild the nations destroyed in this natural disaster."
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Debt Situation in Africa, 2001.
Magnitude of problem. IMF & World Bank. Country problems focusing on Ivory Coast. Influence of African debt on international politics. Need to resolve debt crisis.
1,575 words (approx. 6.3 pages), 9 sources, $ 55.95
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From the Paper
"Introduction
Technological innovation and changes in economic systems throughout the world have resulted in debt becoming a staple of economic life at nearly every level of the world's economies. Individual debt in the United States, for example, has reached levels which cause concern among some analysts. Companies regularly weigh the advantages of financing through debt or equity issues. Entire countries take on debt to finance infrastructure growth, or merely to meet more fundamental obligations. Whether experienced at the macroeconomic level or microeconomic level, debt can carry with it considerable problems. Any borrower, whether an individual, company or nation, must repay not only the principal (the amount borrowed), but also the interest that accrues. In some debt situations, the borrower is able to repay .."
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Debt and Equity Financing, 2005.
An overview of the positive and negative characteristics of debt and equity financing.
2,157 words (approx. 8.6 pages), 6 sources, MLA, $ 67.95
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Abstract
This paper examines how choosing which financing vehicle is best for a company is very important and how equity and debt financing are financial mechanisms by which a firm can raise financial capital. It looks at how the characteristics of each of these two groups depend on three variables: investors' claims on future cash flow, their right to participate in company decisions and their claims on company assets in liquidation. The paper examines the benefits and disadvantages of both.
Outline
Introduction
Characteristics of Equity Financing
Advantages of Equity Financing
Disadvantages of Equity Financing
Characteristics of Debt Financing
Advantages of Debt Financing
Disadvantages of Debt Financing
Contrast Between Equity and Debt Financing
The Capital Structure Decision
The Irrelevance Proposition
Conclusion
References
Appendix
From the Paper
"Equity financing is the act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. Equity (or common stock) offers residual claims. On a balance sheet, equity equals total assets less all liabilities. Equity financing is generally recommended for a business that's experiencing very high growth with high investment risk. The major sources of equity financing include individuals starting the business, friends and family, angel investors, venture capitalists, and public equity markets. Equity can take several forms including preferred stock, common stock, limited partnership interest, and project equity."
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