The distinctive features of inflation targeting include the publishing of the formal (official) target band or point target for the rate of inflation at one or more time horizons and the explicit confirmation that low and steady inflation is the long-run objective of monetary policy. There are four main preconditions of inflation targeting: 1) an independent central bank that is free from fiscal and political pressures; 2) a central bank that has both the ability to forecast inflation and the capability to model inflation data; 3) the presence of fully deregulated prices and an economy that is affected by changes of commodity prices, as well as exchange rates; and 4) the presence of sound banking system and well developed capital markets. In most developing countries, the use of seigniorage revenues as a source of financing government debts, the lack of commitment by monetary authorities to low inflation as a primary goal, the absence of the central bank’s functional independence, and of powerful models to make domestic inflation forecasts, prevent the satisfaction of these preconditions. This dissertation investigates the extent to which Malawi meets the preconditions for inflation targeting by comparing the situation in that country to other developing countries, which have already adopted the framework. Malawi is committed to the central bank’s functional independence as well as the pursuit of prudent fiscal policy measures for the attainment of low inflation. Despite the failure to meet all the preconditions, this study recommends that Malawi should adopt an inflation targeting framework due to the strength of commitment of the monetary authorities in satisfying these preconditions.

This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.

Thesis (MA)--Stellenbosch University, 2003. / ENGLISH ABSTRACT: The HIPC Initiative offers qualifying heavily indebted poor countries the opportunity to renege on their debt obligations in return for an emphatic commitment to poverty reduction and reform. This dissertation assesses the effectiveness of the HIPC Initiative in light of the fact that one third of the world's population continues to live on an average of US$1 per day. In evaluating the HIPC Initiative one simple question is posed: taking into consideration the abject poverty experienced by over a billion people in the developing world, and the urgency with which it must be addressed, is the HIPC Initiative extensive enough, deep enough or broad enough to effectively challenge worldwide poverty? Using quantitative and qualitative research methods, the dissertation investigates this question by examining the divergent points of view offered by the World Bank and IMF on the one hand, and NGOs on the other as they comment on the most hotly debated issues surrounding the effectiveness of the HIPC Initiative. The analysis leads us to an evaluation of the following issues: establishing debt sustainability to qualify for HIPC relief; the issue of conditionality and the use of poverty reduction strategy papers; funding the HIPC Initiative; the likelihood of HIPCs escaping the debt trap after HIPC relief; and finally, how the HIPC Initiative is contributing to attaining the Millennium Development Goals is evaluated. After probing the stances of the World Bank and IMF, and the contrasting views of NGOs the conclusions indicate that the HIPC Initiative is neither extensive, deep nor broad enough to effectively challenge poverty, or to provide indebted poor countries with a lasting escape from the burden of unsustainable debt. / AFRIKAANSE OPSOMMING: Die Heavily Indebted Poor Countries (HIPC) Inisiatief bied aan arm lande met 'n groot skuldlas, wat kwalifiseer vir hulp, die geleentheid om hul skuldverpligtings af te las in ruil vir 'n definitiewe verbintenis tot armoede-vermindering en -hervorming. Hierdie verhandeling evalueer die doeltreffendheid van die HIPC Inisiatief teen die agtergrond van die feit dat een derde van die wêreld se bevolking op 'n gemiddelde van een Amerikaanse Dollar per dag oorleef. Hierdie evaluering van die HIPC Inisiatief stel 'n eenvoudige vraag: Is die HIPC Inisiatief voldoende en uitgebreid genoeg om die uitdaging van wêreldwye armoede aan te spreek indien 'n mens die uiterste armoede van meer as 'n biljoen mense in ontwikkelende gebiede in ag neem, sowel as die dringendheid waarmee dit aangespreek moet word? Deur van kwantitatiewe en kwalitatiewe navorsingsmetodes gebruik te maak, ondersoek die verhandeling hierdie vraag deur uiteenlopende gesigspunte van die Wêreldbank en die Internasionale Monitêre Fonds (IMF) aan die een kant, en Nie- Regerings Orginisasies (NRO's) s'n aan die ander kant, te ondersoek aan die hand van hul kommentaar op die belangrikste kwessies oor die doeltreffendheid van die HIPC Inisiatief. Hierdie ontleding lei tot 'n evaluering van die volgende kwessies: bepaling van lande se potensiaal om met terugbetalings vol te hou ten einde vir hulp deur die HIPC te kwalifiseer; die kwessie van voorwaardelikheid en die gebruik van armoedeverligtingstrategieë; befondsing van die HIPC Inisiatief; die moontlikheid dat die HIPC's die skuldstrikke na toepassing van HIPC-bystand sal ontsnap; en laastens, hoe die HIPC Inisiatief se bydrae tot die bereiking van die Millenium Ontwikkelingsdoelwitte geëvalueer word. Die standpunte van die Wêreld Bank en die IMF sowel as die teengestelde sienings van die NRO's word ondersoek. Die gevolgtrekking toon dat dat die HIPC Insiatief nie uitgebreid, diep of breed genoeg is om armoede doeltreffend hok te slaan nie, of om skuldlastige arm lande te help om finaal van hul skuldlas te ontsnap nie.

This study is concerned with the relationship between the accumulation of Poland's massive hard-currency debt, from 1970 to 1983, and changes in American economic and political policy toward Poland. Prior to and during the 1970s, a tacit American policy of promoting economic and political ties with Poland can be discerned. But the domestic problems Poland exacerbated by mismanaging its debt to the West and the consequent declaration of martial law in 1981 led to the current discriminatory American policies of economic sanctions against Poland. As a result of this policy shift long-standing American political goals in Poland have been compromised.

Thesis (M. Com. (Economics)) -- University of Limpopo, 2021 / The main aim of the study is to analyze determinants of sovereign credit ratings (SCRs) for Southern African Development Community (SADC) countries, namely Angola, Botswana, Mozambique, South Africa and Zambia. The analysis is based on the SCRs given by Standard and Poor’s (S&P). The selected explanatory variables are gross domestic product (GDP) per capita, inflation, external debt, foreign direct investment (FDI) inflows and control of corruption for the period 1990-2016, based on annual data. The panel root test results, namely IPS, LLC, ADF Fisher and PP Fisher, show that GDP per capita, external debt and FDI are stationary at 5% level of significance. The Hausman test results indicates that the identified explanatory variable explains 80% of SCRs. The model observed a positive relationship between SCR, inflation and control of corruption. It also observed a negative correlation between SCR, GDP per capita, external debt and FDI. The Pedroni residual cointegration test results indicate that there is no long-run relationship among variables and no autocorrelation as shown by serial correlation LM test results. The study recommends that the selected member states of SADC develop strategic plans for reducing budget deficits. This will help countries to manage their debts, especially foreign currency denoted debt and to attract foreign investment. Keywords: Sovereign credit ratings, fixed effects model, random effects, Hausman test.

This study attempts to examine the international debt crisis in the 1980s from a primarily political perspective, to permit a greater understanding of the interaction between economics and politics in the course of crisis management The process of dealing with the current international debt crisis provides an pat case for investigation of how economic concerns affect political outcomes, and how political factors influence economic outcomes, and how political factors influence economic policies. This study concentrates on the two regions of Latin America and Eastern Europe where the debt crisis started. The study emphasizes that the international debt crisis started. The study emphasizes that the international debt problem has been increasingly politicized in the contemporary international relations, and that its solution, in addition to the economic aspects, calls for political willingness by all parties concerned.

Made available in DSpace on 2014-06-11T19:29:14Z (GMT). No. of bitstreams: 0 Previous issue date: 2008-02-26Bitstream added on 2014-06-13T19:17:38Z : No. of bitstreams: 1 menezes_hz_me_mar.pdf: 838664 bytes, checksum: 0fd9959eaf6da7d878fcab6f7cd8db3f (MD5) / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais – Fundo Monetário Internacional e Banco Mundial – no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil. / This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis; and the role played by international institutions – International Monetary Fund and World Bank – in the process of renegotiation of the Brazilian debt with commercial banks and in the driving of Brazilian economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness.

Orientador: Reginaldo Carmello Corrêa de Moraes / Banca: Sebastião Velasco Cruz / Banca: Javier Alberto Vadeli / O Programa de Pós-Graduação em Relações Internacionais é instituído em parceria com a Unesp/Unicamp/PUC-SP, em projeto subsidiado pela CAPES, intitulado "Programa San Tiago Dantas" / Resumo: Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais - Fundo Monetário Internacional e Banco Mundial - no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil. / Abstract: This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis; and the role played by international institutions - International Monetary Fund and World Bank - in the process of renegotiation of the Brazilian debt with commercial banks and in the driving of Brazilian economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness. / Mestre

Orientador: Reginaldo Carmello Correa de Moraes / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Filosofia e Ciencias Humanas / Made available in DSpace on 2018-08-10T02:30:05Z (GMT). No. of bitstreams: 1 Menezes_HenriqueZeferinode_M.pdf: 1177686 bytes, checksum: 4841fc8de33bb72bacd2d66026718bc3 (MD5) Previous issue date: 2008 / Resumo: Esse trabalho analisa a crise do desenvolvimento brasileiro precipitada com a crise econômica e financeira internacional da década de oitenta. Buscamos apresentar os efeitos das transformações nas relações internacionais sobre a crise do endividamento brasileiro e o papel desempenhado pelas instituições internacionais - Fundo Monetário Internacional e Banco Mundial - no processo de renegociação da dívida brasileira com os bancos comerciais e na condução da política econômica brasileira para a manutenção das transferências de recursos aos países desenvolvidos. Buscamos ainda enfatizar as peculiaridades do modelo de desenvolvimento via endividamento do Brasil / Abstract: This work analyzes the Brazilian development crisis hastened with the economic and financial international crisis in the 1980s. We aimed to show the effects of the transformations in international relations in the Brazilian debt crisis;. and the role played by international institutions - International Monetary Fund and World Bank - in the process of enegotiation 01 the Brazilian debt with commercial banks and in the driving 01 B7 economics for the sustentation of international transfers of resources to the developed world. We aimed to emphasize the peculiarities of the Brazilian model of development by indebtness / Mestrado / Relações Internacionais / Mestre em Relações Internacionais

The South African Council of Churches (SACC) played an extremely crucial role during the struggle against apartheid. The role of the SACC was first and foremost to provide a voice for the voiceless. It managed, among other tasks, to actively fill the void left by movements banned by the illegitimate apartheid government. As a result of its fight against the inequalities that existed in South Africa, its work adopted a political character. In the aftermath of post-apartheid South Africa, the SACC was left with the task of redefining its role within South African society and civil society, specifically. The euphoric sentiment in the mid-1990s was in part reflected in the SACC. However, the conclusion reached by the Council in 1995 was that it would also play a role of 'critical solidarity' which essentially meant that it would not shy away from attacking the government when the need arose. Since 1994, the South African government has implemented a number of policies that do not appear to be in the immediate interest of the majority of South African citizens atld have brought church and state into conflict. This thesis attempts to tackle three issues which are pertinent to the South African situation and which shed light on state-civil society interactions. These issues are HIV I Aids, the question of odious debt and the Zimbabwe crisis. By using both primary and secondary sources, the SACC's responses to government's handling of these matters will be compared with the responses of the South African Catholic Bishops Conference in order to determine their relationships with government. The conclusion of this investigation is that the SACC has in fact managed to maintain a position of critical solidarity. It has been faced with numerous challenges with regard to maintaining the fragile boundary of alliance with government on the one hand, and becoming anti-government on the other. However, by forming alliances with other civil society actors as well as fostering a relationship with government in order to facilitate mediation this dissertation argues that the SACC has become an essential member of South Africa's vibrant civil society.