Egypt has experienced a sharp rise in external debt over the past decade, increasing from USD 55.8 billion in 2015 to over USD 165.3 billion by 2023. Despite maintaining a debt-to-GDP ratio within internationally accepted thresholds (approximately 45...
Public debt plays a major role in financing projects that support economic growth and sustainable development. As governments may choose between domestic and external borrowing, a comprehensive assessment of their effects would support this choice. O...
Developing nations have the task of effectively managing their external debt. The government is urged to comprehend the decisive component in managing its external debt, despite the varying viewpoints among economists. In addition, the world sees the...
In this study, we assess the effects of the structural shocks on the external debt sustainability in Mongolia, based on an estimated small open economy (SOE) dynamic stochastic general equilibrium (DSGE) model with the traded, the non-traded, and the...
Economic theory argues that foreign direct investment (FDI) and external debt are expected to enhance economic growth in any given economy. Consequently, this study (i) investigated the relationship between foreign direct investment, external debt se...
Background/Objectives: The impact of government health spending and external debt on maternal mortality has been the subject of ongoing theoretical and empirical discussions. However, this relationship has remained controversial with no perspective o...
30 July 2020
This study scrutinizes the influence of external obligation on the cost of living in Nigeria. In recent times, Nigeria has been tagged as the headquarters of world poverty due to the unaffordable cost of living that has resulted in all manner of crim...
This study aimed to determine the channels through which external debt transmits its impact on economic growth in sub-Saharan African (SSA) countries. To this end, panel data comprising 30 SSA countries were investigated for the period 1985–2019, usi...
17 September 2020
This paper used the Johansen Cointegration test and system Generalised Method of Moments (sysGMM) to examine the dynamic relations between external debt and economic growth in 43 African countries over the period 2001–2018. The study used data...
This study examines the moderating and threshold effects of institutional quality on the relationship between external debt and economic growth using panel data from 39 lower- and upper-middle-income countries over the period of 1996–2023. To a...
This paper estimates a nonlinear asymmetric dynamics model in the threshold panel data framework to study the extent to which the quality of governance, investment, and financial stability affect the impact of external debt on economic growth in 47 A...
Although some recent papers have explored the impacts of external debt on environmental sustainability, the impacts of external debt on the load capacity factor (LCF) have been ignored. In this regard, this work aims to examine the influence of renew...
This study investigates the dynamic relationship between trade openness, external debt, and economic growth in Sub-Saharan Africa, focusing on the period from 1990 to 2023. The research examines how trade openness and external debt impact regional ec...
Understanding the factors associated with economic growth remains a major policy concern for developing economies. Although external indebtedness, foreign direct investment (FDI), trade openness, and unemployment have been widely examined, relatively...
This study examines the dynamic interactions among gross domestic product (GDP), external public debt, and domestic public debt in Iraq and discusses their implications for fiscal sustainability. The observed annual data cover the period 2005–2...
This study examines whether the external financing anomaly exists in an emerging-market setting. Using data on Korean listed firms from 1994 to 2023, we find that firms with higher net external financing subsequently earn significantly lower stock re...
Upper-middle-income economies (UMIE) are experiencing an economic slowdown, partly due to weak regulatory performance. This issue leads to slow growth in private sector participation, thus limiting the ability to achieve higher economic growth. At th...
Foreign direct investment (FDI) as a driver of growth is important in today’s globalized economy. It is extremely difficult for economies to grow sustainably without economic interactions outside their borders. However, there has been a debate...
The average country in Asia–Pacific experiences more natural disasters than average countries of other developing regions. This paper presents stylized facts on natural disasters, human development, and external debt in Asia–Pacific. The...
The quest for the attainment of economic development is sought after by all global economies, which by effect is expected to transcend to improving livelihoods and standard of living. However, several factors hinder the process of achieving sustained...
Emerging economies face crucial challenges around fiscal stability, particularly servicing foreign debt and securing long-term financing arrangements. In this context, we investigated the relationship between the share of banking facilities allocated...
The aim of this study was to identify and assess the factors influencing the increase in the financial energy of a farm through the use of external capital, taking into account the farmer’s and farm characteristics. For its implementation, a logistic...
This research compares the global debt trends in the aftermath of the COVID-19 pandemic, focusing on economies that frame the North and South divide. The research centers on debt ratios, which serve as indicators of countries’ ability to financ...
This paper examines the impact of public debt servicing on private investment in Egypt within the debt overhang hypothesis. While existing research largely focuses on the debt–growth relationship, limited attention has been given to how debt se...
Concurrent and overlapping crises, such as the COVID-19 pandemic and increases in energy and food costs, are particularly affecting developing and poor countries, in addition to the continuous and growing negative impacts from climate change. In this...
Public–private partnership (PPP) projects have the features of extended investment cycles, diminished returns, and high demand for technology. Inadequate utilization of these projects may result in an accumulation of new implicit debt for the g...
Economic crises significantly restrict corporate access to external financing, and regional differences in recovery capacity deserve close attention. This study examines the financial structure and debt of large enterprises in the Visegrád Fou...
With a proactive loan policy to raise construction funds, a large number of toll freeways have been built in Mainland China in the past three decades. However, it brought about a long-term heavy debt burden for most provincial governments. To ensure...
According to the IMF, the current public debt makes up nearly 40 percent of the global debt, marking the highest share since the mid-1960s. Despite the vast research on alarming levels of sovereign default, the literature remains inconclusive. This p...
Small island developing states (SIDS), such as Barbados, must continually adapt in the face of uncertain external drivers. These include demand for exports, tourism demand, and extreme weather events. Climate change introduces further uncertainty int...
Ιmplicit pension debt is attracting increasing attention worldwide as a driver of fiscal dynamics, operating in parallel to the (explicit) National Debt. A prudent examination of a state’s fiscal prospects should ideally encompass both, with due atte...
Corporate debt financing capacity is a critical factor for a firm’s survival and development. As climate change intensifies, examining the impact of climate risk on corporate debt financing is crucial for addressing climate change challenges. T...
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...
Developing countries often encounter budget deficits by taking loans from internal and external sources. The effectiveness of public debt has been a long debate in the seminal and empirical literature. In this study, we investigate the effectiveness...
Debt financing is arguably the most important source of external financing for enterprises and has become popular in recent years. Corporate debt is related to the monitoring of corporate indebtedness, which is a necessary part of evaluating the over...
Scholars have proposed a series of methods, such as “sustainability of local government debt”, to measure local government debt risks. However, these methods have caused a lot of controversy. Based on a macro balance sheet, this study uses an improve...
Green innovation is essential for the sustainable transformation of enterprises. This study investigates how equity and debt financing dependence influence green innovation using panel data from manufacturing firms listed in Shanghai and Shenzhen bet...
The ESG performance of enterprises is becoming an essential form of support for investors’ investment decisions and a critical aspect to follow to achieve sustainable development of enterprises. This study uses A-share listed companies in China...
This study presents an innovative financial model that integrates the debt-for-climate swap mechanism with Article 6 of the Paris Agreement, specifically designed to support Africa’s transition to clean energy. The model connects debt-for-clima...
We build on the literature of consumer debt–income inequality nexus, by developing a post-Keynesian model of growth and income distribution that incorporates both consumer and corporate borrowing. Specifically, we examine a non-linear dynamic s...
This study examines how firm-specific financial policies and external factors influence the volatility of implied volatility (VOV), a measure of uncertainty about future risks. Using a sample of 6023 firms from January 2000 to December 2022, we deriv...
The purpose of this paper is to investigate the firm-level determinants of the cost of debt in a bank-based emerging economy, where debt serves as the primary external financing mechanism, enabling firms to maintain operations, pursue growth opportun...
China has placed significant importance on the development of a circular economy and achievement of sustainable prosperity. It employs multiple fiscal and tax policies to facilitate clean production and improve resource efficiency by fostering corpor...
This paper examines the impact of fiscal policy responses on unemployment across EU countries from 2019 to 2024, a period marked by the COVID-19 pandemic as a shock event. A detailed monthly panel data set is used in this study, employing a fixed-eff...
Because corporate sustainability enhances corporate governance principles, firms are increasing their efforts to provide transparency and public disclosure. These efforts inform the public about the relationship between corporate governance and susta...
As states bring more and more offshore wind online and build renewable energy capacity, the promise of large-scale ocean renewables such as offshore wind is not shared equally across all coastal states. This paper examines the situation of coastal st...
This research enhances the literature on bank capital structure by combining financial intermediation theory with technological innovation to analyse the impact of FinTech adoption and liquidity management on leverage choices in South African banks....
This study examines the moderating role of liquidity in the relationship between extreme capital structure and firm performance among listed firms in emerging markets. It is motivated by the need to better understand how financing constraints and liq...
Previous research has found that, when firms engage in environmental sustainability practices, they tend to give a consistent signal to external stakeholders by acting in a more responsible, transparent, and ethical manner, and these firms tend to ex...
This article examines how the redistributive design of crisis-time fiscal policy shaped Belgian federal public debt trajectories from 1912 to 2024. Drawing on a reconstructed debt-to-GDP series and historical–institutional analysis, it identifi...
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