Debt crisis is a situation in which a government (nation, state/province, county, or city etc.) loses the ability of paying back its governmental debt. When the expenditures of a government are more than its tax revenues for a prolonged period, the government may enter into a debt crisis. Various forms of governments finance their expenditures primarily by raising money through taxation. When tax revenues are insufficient, the government can make up the difference by issuing debt.
A debt crisis can also refer to a general term for a proliferation of massive public debt relative to tax revenues, especially in reference to Latin American countries during the 1980s, the United States and the European Union since the mid-2000s, and the Chinese debt crises of 2015.
Hitting the debt wall is a dire financial situation that can occur when a nation depends on foreign debt and/or investment to subsidize their budget and then commercial deficits stop being the recipient of foreign capital flows. The lack of foreign capital flows reduces the demand for the local currency. The increased supply of currency coupled with an increased demand then causes a significant devaluation of the currency. This hurts the industrial base of the country since it can no longer afford to buy those imported supplies needed for production. Further, any obligations in foreign currency are now significantly more expensive to service both for the government and businesses.
This same concept has also been applied to personal debt. Specifically it has been applied to students who get in over their heads with student loans to finance their education.
The European debt crisis is a crisis affecting several eurozone countries since the end of 2009. Member states affected by this crisis were unable to repay their government debt or to bail out indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank).
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The course provides a market-oriented framework for analyzing the major financial decisions made by firms. It provides an introduction to valuation techniques, investment decisions, asset valuation, f
The course provides a market-oriented framework for analyzing the major financial decisions made by firms. It provides an introduction to valuation techniques, investment decisions, asset valuation, f
This course provides students with a working knowledge of macroeconomic models that explicitly incorporate financial markets. The goal is to develop a broad and analytical framework for analyzing the
La dette du tiers monde est une dette extérieure contractée par les pays du tiers monde (le terme « tiers monde » est toujours employé, bien qu'on lui préfère désormais souvent d'autres expressions telles que « pays en voie de développement » (PVD) ou pays en développement (PED)) ou encore pays du Sud. Cette dette correspond tant à des prêts souverains (d'autres États, du FMI, de la Banque mondiale, etc.) que des financements privés (prêts bancaires, obligations placées auprès de fonds de placement...).
La dette publique est, dans le domaine des finances publiques, l'ensemble des engagements financiers pris sous formes d'emprunts par un État, ses collectivités publiques et ses organismes qui en dépendent directement (certaines entreprises publiques, les organismes de sécurité sociale). Tous les pays ont des dettes publiques. Lorsqu'un déficit budgétaire apparaît, il est couvert par l'emprunt, qui, accumulé sur la longue période, se traduit en dette supplémentaire et croissante.
vignette|droite|upright=1.3|Palais du parlement hellénique devant la place Syntagma à Athènes. La crise de la dette publique grecque est une crise financière ayant débuté en 2008, affectant la Grèce et menaçant de s'étendre à l'Union européenne, due à l'emballement de la dette publique de la Grèce. Cette dette pèse sur l'économie du pays de deux manières : par les craintes qu'elle fait naître chez les investisseurs sur la capacité de la Grèce à rembourser sa dette publique et par le poids du paiement de ses intérêts.
Develop your promising idea into a successful business concept proposal, and launch it! Gain practical experience in the key steps of the venture creation process, including marketing and fundraising.
Develop your promising idea into a successful business concept proposal, and launch it! Gain practical experience in the key steps of the venture creation process, including marketing and fundraising.
Explore les coûts de l'atténuation du changement climatique, l'impact de la dette publique et les solutions potentielles pour des investissements durables.
Explore les définitions de l'épargne nationale et de l'épargne du secteur public, ainsi que des exemples et des explications, tout en fournissant des détails sur le format de l'examen à venir et les sujets des projets futurs.
Explore la montée de la dette en tant qu’outil de financement pour les entreprises après la crise financière de 2008 et analyse l’impact des émissions d’obligations d’entreprises.
This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...
Capital ages and must eventually be replaced. We propose a theory of financing in which firms borrow to finance investment and deleverage as capital ages to have enough financial slack to finance replacement investments. To achieve these dynamics, firms is ...
We investigate equilibrium debt dynamics for a firm that cannot commit to a future debt policy and is subject to a fixed restructuring cost. We formally characterize equilibria when the firm is not required to repurchase outstanding debt prior to issuing a ...