Government debt

إﺟﻤﺎﻟ ﻲ رأس اﻟﻤﺎل اﻟﺜﺎﺑﺖ(. وﻣﻦ ﺣﻴﺚ اﻟﻤﺒﺪأ، ﻳﻨﻄﺒﻖ هﺬا اﻟﺘﺼﻨﻴﻒ ﻋﻠﻰ‬ ‫ﺟﻤ ﻴﻊ اﻟﻤﻨﺘﺠﻴﻦ )ﺳﻮﻗﻴﻴﻦ أو ﻏﻴﺮ ﺳﻮﻗﻴﻴﻦ(. وﻣﻊ أن وﺣﺪات اﻟﺘﺼﻨﻴﻒ ﻳﻨﺒﻐﻲ أن ﺗﻜﻮن ﻣﻌﺎﻣﻼت، ﻳﺒﺪو أن ﻻ ﺑﺪ أن ﺗﻜﻮن ﻣﻦ‬ ‫ّ‬ ‫اﻟﻨﺎﺣﻴﺔ اﻟﻌﻤﻠﻴﺔ "ﻣﺮاآﺰ ﺗﻜﺎﻟﻴﻒ".‬ ‫)‪classification of the functions of government (COFOG‬‬ ‫)‪nomenclature des fonctions des administrations publiques (COFOG‬‬ ‫ﺗﺼﻨﻴﻒ وﻇﺎﺋﻒ اﻟﺤﻜﻮﻣﺔ‬ ‫ﺻ ﻤﻢ ﻟﺘﺼ ﻨﻴﻒ اﻟﻤﻌ ﺎﻣﻼت اﻟﺠﺎرﻳ ﺔ )اﻹﻧﻔ ﺎق ﻋﻠ ﻰ اﻻﺳ ﺘﻬﻼك واﻹﻋﺎﻧ ﺎت واﻟ ﺘﺤﻮﻳﻼت اﻟﺠﺎرﻳ ﺔ( واﻟﻤﺼ ﺮوﻓﺎت اﻟﺮأﺳ ﻤﺎﻟﻴﺔ‬ ‫ّ‬ ‫)ﺗﻜﻮﻳ ﻦ رأس اﻟﻤ ﺎل اﻟﺜﺎﺑ

said it will buy $600 billion of Treasuries between now and next June, at about $75 billion a month, although it also said it could adjust the amount and timing if need be. That was about what markets expected but far less than the $1.75 trillion of debt it bought between early 2009 and early 2010 in its first round of QE. Yet QE2 seems already to have exceeded the low expectations it has aroused. Since Ben Bernanke, chairman of the Fed, hinted at it at Jackson Hole on August 27th, markets have all

auprès des institutions financières résidentes Crédits obtenus auprès des non-résidents Financements de marchés Taux d'épargne (en %) des ménages dont taux d'épargne financière 52,2 9,1 38,7 48,5 11,0 40,5 50,8 13,0 36,2 Total domestic debt (billion euros) By source of funds (%) Loans from resident financial institutions Loans from non-residents Market-based financing Sources : Banque de France ; Insee. 2000 15,1 6,7 16,5 2005 14,9 5,0 13,8 2007 15,8 5,2 12,7 Saving rates

announced over the past couple of years are to be executed by TNCs. FDI flows into Brazil displayed new impetus after 1992, initially in the form of portfolio investment, attracted by high real interest rate differentials due to high interest paid on government debt. Later on, stimulated by stabilization, demand growth and privatization, investment flows from TNCs reached historic highs. This has been the record especially since 1994. In 1997, for instance, inflows represented nearly US$ 17 billion, or about

has been significant. They have underpinned the planning process and the ongoing activities of organisations such as AWBC, WFA and the GWRDC and have been incorporated into the activities of other sector bodies, research and development agencies, governments and commercial businesses. Similarly, the level of stakeholder recognition has been immense. Strategy 2025 succeeded because it was comprehensive, realistic and right for its time. Directions represents an equally comprehensive and timely plan

value by increasing the per-period profits of the bank. We find that deposit rate controls combined with capital requirements can more inexpensively replicate any outcome that is induced using capital requirements alone. Even in an economy where the government can credibly commit not to offer deposit insurance, the moral hazard problem may still not disappear and capital requirements alone may not achieve the socially efficient allocation, whereas that allocation can be achieved by also using a deposit

economy nef (the new economics foundation) is a registered charity founded in 1986 by the leaders of The Other Economic Summit (TOES), which forced issues such as international debt onto the agenda of the G8 summit meetings. It has taken a lead in helping establish new coalitions and organisations such as the Jubilee 2000 debt campaign; the Ethical Trading Initiative; the UK Social Investment Forum; and new ways to measure social and economic well-being. Contents Foreword Preface Executive summary

a surplus of resources (be it time, financial resources, expertise) that could be employed for further revenue. He may spot a good opportunity: a certain trend in the stocks or bonds, for the financial markets; facilities (offered by banks, the government or other institutions) for investing in human or asset capital; an upward trend in prices, or a new product, etc.  What to invest? The answer to this question determines the resources that will be employed. Although the first logical answer

reflects a broad difference in the goals between the NOCs and IOCs. Unlike publicly traded oil companies that seek to maximize shareholder returns by monetizing reserves as fast as possible, state-owned firms are guided by the objectives of their governments and often use a paced development of reserves. Based on a combination of oil and gas reserves, production, refining capacity, and product sales volumes, Saudi Arabia’s Saudi Arabian Oil Co. (Saudi Aramco) continued to hold the No. 1 spot. Iran’s

example, the group might re-examine its financing structure to determine whether various entities are appropriately capitalized given revised profit expectations. These conditions may, for example, suggest that some intercompany debt should be converted to equity, or that debt should be re-financed so that a different company group acts as the lender, to take advantage of operating losses. Post-recession opportunities The implications under improved economic conditions in the future of any modifications