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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, £ 34.95
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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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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, £ 64.95
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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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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, £ 45.95
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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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Is the Debt Crisis Over?, 2007.
An analysis of the factors contributing to the on-going debt crisis in under-developed countries.
2,758 words (approx. 11.0 pages), 18 sources, MLA, £ 43.95
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Abstract
The paper argues that the debt crisis is far from over, especially for the poor under-developed countries. It analyzes the reasons for the on-going debt crises since the 1970s. It also discusses the factors behind this build up in debt and the implications of the debt burden for socio-economic development in least developed countries (LDCs).
Table of Contents:
Introduction
Origins Of Debt And Debt Relief Efforts
Implications of Debt Burden for Development in Third World Countries
Conclusion
From the Paper
"Since 1970s the external debt burden of many low income countries has increased significantly. The total debt burden of the developing countries has crossed $2 trillion. The external debt of Sub-Saharan Africa, where the world poorest countries are located, in 1990 was $176,878 millions while today it has reached to $231,360 according to World Bank development indicators (2005). Latin America which is another one of the poorest regions of the world had an external debt of $444,900 in 1990; in 2005 it has reached to $779,632 (World Bank, 2005). In the late 1970s the external debt-to-exports ratio stood relatively at moderate levels generally about 200 % or below in Highly Indebted Countries, by mid 1990s this ratio had crossed 2000 % in some countries like Nicaragua where the ratio increased to 2500 % in early 1990s (IMF, 1998)."
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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, £ 33.95
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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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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, £ 39.95
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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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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, £ 51.95
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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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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, £ 25.95
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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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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, £ 35.95
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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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National Debt, 2002.
An analysis of the U.S. economy and levels of national debt.
1,150 words (approx. 4.6 pages), 5 sources, £ 22.95
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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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Corporate Debt, 2006.
A study of the micro and macro issues involved in corporations taking on debt.
815 words (approx. 3.3 pages), 1 source, MLA, £ 15.95
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Abstract
This paper explores borrowing by corporations from the micro and macro perspective. First, the paper considers the influence of increased debts on the efficiency of the firm, explaining that proponents of high leverage claim that debt increases firm efficiency. Second, the paper looks at the macro issue, which is the impact of increase corporate debt on the stability of the country's economic and financial system.
Micro Issue: Does Debt Promote Efficiency?
The Macro Issue: How Does Debt Affect the National Economy?
From the Paper
"Corporations usually prefer to use debt as a source of finance because of the tax advantage offered by debt financing. Interest payments made by a firm are tax deductible while dividend payments are not. However, in case of debt financing a firm is also exposed to the threat of bankruptcy and reorganization. According to the traditional view, maintaining the optimal ratio of debt to equity allows the firms to avoid such threats. Recent studies have focused on some other benefits that a firm may drive through increased debt financing."
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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, £ 28.95
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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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Troubled Debt, 1994.
An accounting analysis, compared to bad debt including financial disclosure, evaluation of firm, contingencies and debt securities.
1,575 words (approx. 6.3 pages), 14 sources, £ 28.95
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From the Paper
"Troubled Debt Issues
Introduction
This research examines from an accounting perspective issues concerning troubled debt. Troubled debt is different from bad debt.. Debt classified as "bad" has already been recognized as being uncollectible, and may be charged against the appropriate reserve account. Troubled debt, however, covers monies due a firm wherein the risk is high that the debt may not be repaid, but wherein recognition of that risk in financial statements may compromise the financial position of the debt holding firm..
Reflecting Economic Resources
Statement of Financial Accounting Concepts No. 1: Objectives of Financial Reporting by Business Enterprises (FAC 1) requires that..."
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Debt Crisis, 2004.
An analysis of how the United States debt crisis affects American companies.
2,518 words (approx. 10.1 pages), 10 sources, MLA, £ 39.95
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Abstract
This paper focuses on the general topic of the United States of America's national debt crisis. The first part of the paper provides insights into the causes and affects of the debt and identifies some large and small companies that are most affected. The second part of the paper discusses the risks and valuations of companies and instruments, as well as risk and valuation methodologies that have been developed with respect to the debt situation. The focus of these methodologies is related to the debt market, investment banking, and the secondary mortgage market, valuing the risks and returns of the companies and instruments involved. The paper presents an extensive discussion regarding methods of valuation.
From the Paper
"There have been many efforts by the governmental factions to try to control the problem of debt accumulation. For example, the Balanced Budget Act of 1997 was directed on our nation's healthcare delivery system and was designed to balance the overall federal budget. Because of the aging population, Medicare and the cost associated to healthcare in general, our nation's national debt crisis needed these attempts to right the ship. Our debt situation was so severe that the Balanced Budget Act of 1997 was supposed to be one of the most significant changes to the nation's Medicare program since its commencement. "Certainly, the president and Congress intended for the BBA to dramatically alter Medicare reimbursements. The Congressional Budget Office (CBO) originally estimated the bill would reduce Medicare spending by $113 billion over five years, thereby extending the viability of the Medicare Part A trust fund by 10 years and bringing the budget into balance by 2002." (McKeon, 2004) "
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