There is a growing and legitimate concern about sovereign debt increasing to unsustainable levels among the Sub-Saharan African (SSA) countries. Understanding the determinants of external debt to these countries influenced the direction of this study. The existing literature that was examined shed light mostly on the qualitative determinants of sovereign borrowing. In addition to existing empirical literature, there is a complimentary need to examine further the quantitative determinants of external debt. The researcher seeks to establish the extent to which the cost of borrowing (proxied by interest rate) explains the changes in the borrowing behaviour (proxied by external debt) among SSA countries. To achieve this objective, data from 36 SSA countries for the period 2009–2017 was used. The data were collected from International Debt Statistics compiled by the World Bank. External debt has been regressed against interest rate and other predictor variables. Hausman tests, robustness tests and collinearity tests were carried out to ascertain the validity of results. Interest rate is found to have a positive determining impact on external debt for all SSA countries aggregated: SSA countries excluding South Africa (SA); SSA excluding Nigeria; SSA excluding Nigeria and SA; SSA excluding debt-distressed countries, middle income and oilexporting countries. It does not have predictive power over changes in external debt for SSA excluding countries at high risk of distress; countries with low to moderate risk of distress; heavily indebted poor countries (HIPC) initiative post-implementation recipient countries; low income, other resource intensive and non-resource-intensive countries. External debt is also found to respond to changes in: gross national income (GNI); exports-to-imports ratio; primary income on foreign direct investment (FDI); reserves-to-imports ratio; FDI-to-GNI ratio; debt service-to-GNI ratio; interest arrears on long-term debt; short-term-to-total-debt ratio; and reserves-to-debt ratio for different country groupings. Different country groupings are found to have unique combinations of external debt determinants.

No description available.

Doctor of Philosophy / School of Family Studies and Human Services / Sonya L. Britt / This study explored whether the use of debt, specifically mortgages and student loans, has a negative relationship with wealth accumulation over a consumer’s lifetime. The analysis looked at whether exploration questioned whether consumer debt is incongruent with good personal financial management and consumers should hold a philosophy of avoidance of debt in order to accumulate more wealth. Some financial planners believe in leveraging current assets in hopes of accelerating wealth accumulation. The latter approach is more congruent with a behavioral life-cycle hypothesis perspective (Shefrin & Thaler, 1988), which posits that consumers are the happiest when consumption remains relatively constant over a lifetime through use of debt and savings. To account for wealth accumulation across the lifespan, a measure of relative net worth was constructed by taking current net worth divided by current annual income divided by age. Relative net worth was used rather than net worth in order to allow comparisons between consumers of different ages and income. Data were collected from a sample of convenience, recruited from social media, friends and their acquaintances, and the clients of financial advisors who agreed to distribute the survey. Four ordinary least squares (OLS) regression analyses were conducted to determine the influence of current mortgage relative to the value of the home, mortgage obtained at the time of home purchase as a multiple of income, and student loans at graduation as a multiple of income on relative net worth accumulations. Results suggested that current mortgage debt that is 80% or less of home value, lack of a mortgage, and completing higher education without student debt are associated with higher relative net worth. Using a sample of convenience, the respondent pool was not nationally representative. In comparison to the United States population, the sample population is more highly educated, has a higher percentage of married and individuals in a committed relationship, contains more adults over the age of 50, and does not reflect the ethnic diversity of the United States. This study did not provide deep new insight into the factors contributing to wealth accumulation. It showed that mortgages and student loans alone do not have a large impact on wealth accumulation. This is evidenced by the low R² for all regressions (ranging from .00 to .07). Of the independent variables chosen for regression, the impact was not large and statistical significance for those factors was not present in all regressions. The results of this study do not provide direct support to the ability to use mortgages and student loans as part of wealth accumulation strategies. Future studies may be able to incorporate other elements with debt decisions as well as the impact of financial advice on the use and levels of debt as part of an integrated wealth accumulation strategy. The level of debt to positively impact socioeconomic status is also another area for future study.

Thesis (LLM) --University of Limpopo, 2008

No description available.

This paper investigates the determinants of sovereign debt crises by using cross-country data from 1977 to 2010. In particular, I focus on the structure of sovereign debt by analysing the debt composition (domestic versus external), maturity structure (short-term versus long-term), composition type (bank loans versus bond) and currency denomination (domestic currency versus foreign currency) of debts. I also assess whether the previous history of banking and currency crises affect the likelihood of a sovereign debt crisis. The results suggest that both the structures of debt and the past history of other financial crises are important determinants of debt crises. The results are robust when using alternative measures to understand the risks of sovereign debt. I also investigate the impacts of debt structure and past financial crises history on the levels and changes of foreign and local currency long-term debt credit ratings.

Thesis (M.B.A.)--University of Hong Kong, 1995. / Includes bibliographical references (leaf 36-38).

Thesis (Ph. D.)--University of Wisconsin--Madison, 1963. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references.

Thesis (Ph. D.)--University of Missouri-Columbia, 2006. / The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file viewed on (May 2, 2007) Vita. Includes bibliographical references.

<p>The primary objective of this thesis is to provide a systematic analysis of the Portfolio behaviour of the principal holders of Government of Canada securities, particularly insofar as these latter securities are concerned. The main non-government participants in the market for these securities are categorized as chartered banks, non-bank financial institutions, which are further subdivided into deposit-type and insurance-type institutions, and non-financial corporations. Si~ce institutional and legal considerations differ considerably with respect to their impact on the investment behaviour of the groups studied, these aspects are examined in varying degrees of detail for each group. Empirical evidence is examined to determine the changes in the portfolio structure of these institutions over time and regression analysis is used to isolate the principal determinants of the demand for Government of Canada securities on the part of each of the above-mentioned groups. To provide a theoretical basis for an assessment of the appropriate explanatory variables and the direction of influence of these variables, a model of portfolio behaviour is developed for the deposit-type institutions. The results of this analysis are used in the specification and interpretation of demand equations for federal government securities on the part of these institutions. The thesis commences by providing a background with respect to the characteristics of the public debt and the growth in the debt over time and concludes with a summary of the results reached in the main body of empirical analysis.</p> / Doctor of Philosophy (PhD)