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Tytuł:
External Factors in Debt Sustainability Analysis: An Application to Latin America?
Autorzy:
Adler, Gustavo
Sosa, Sebastian
Powiązania:
https://bibliotekanauki.pl/articles/565723.pdf
Data publikacji:
2016
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
public debt
external debt
debt sustainability
Latin America
Opis:
This paper develops a framework for debt sustainability analysis that integrates econometric estimates of the effect of global factors on a set of key domestic variables that determines public and external debt dynamics. The methodology is applied to assess debt sustainability in Latin America—a region highly sensitive to external conditions. Results suggest that, while some countries in the region are well placed to withstand moderate or even large foreign shocks, many would benefit from strengthening their fiscal positions to be able to deploy countercyclical policies under adverse scenarios, especially tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
Źródło:
Journal of Banking and Financial Economics; 2016, 1(5); 81-120
2353-6845
Pojawia się w:
Journal of Banking and Financial Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Controversies Over Non-Conventional Instruments of Financing Budget Needs Of Local Government Units
Autorzy:
Poniatowicz, Marzanna
Wyszkowska, Dorota
Piekarska, Ewelina
Powiązania:
https://bibliotekanauki.pl/articles/429515.pdf
Data publikacji:
2017
Wydawca:
Uniwersytet w Białymstoku. Wydawnictwo Uniwersytetu w Białymstoku
Tematy:
subnational debt
debt limit
unconventional debt financing instruments
Opis:
Local government units resort to external repayable sources of financing their own activity, mainly those connected with investments, when the financial sources they have at their disposal are insufficient. However, owing to an unfavorable financial situation, some of them lose their creditworthiness because their debts exceed the legal limit. In such a situation, they decide to use the so-called unconventional instruments, which, although they provide certain long-term benefits, in a longer time perspective lead to negative consequences, connected mainly with diminished financial liquidity and the necessity to bear inflated costs of debt service. The aim of the paper is to present the reasons for using unconventional instruments of financing budget needs by decision-makers, as well as their specific character and economic effects, particularly as regards the financial stability and security of LGUs, the transparency of local finances and the related hazards. The achievement of this aim required analysis of the literature devoted to the subject, reports of controlling institutions and statistical data regarding the debt level of LGUs.
Źródło:
Optimum. Economic Studies; 2017, 5(89)
1506-7637
Pojawia się w:
Optimum. Economic Studies
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Inflation and Public Debt Reversals in the G7 Countries
Autorzy:
Akitoby, Bernardin
Binder, Ariel
Komatsuzaki, Takuji
Powiązania:
https://bibliotekanauki.pl/articles/565670.pdf
Data publikacji:
2017
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
Inflation
debt crisis
G7
public debt
sovereign debt
Opis:
This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by about 5 percentage points during that period. In contrast, raising inflation to 6 percent for the next five years would reduce the average net debtto-GDP ratio by about 11 percentage points under the full Fisher effect and about 14- percentage points under the partial Fisher effect. Thus higher inflation could help reduce the public debt-to-GDP ratio somewhat in advanced economies. However, it could hardly solve the debt problem on its own and would raise significant challenges and risks. First of all, it may be difficult to create higher inflation, as evidenced by Japan’s experience in the last few decades. In addition, an unanchoring of inflation expectations could increase long-term real interest rates, distort resource allocation, reduce economic growth, and hurt the lower–income households.
Źródło:
Journal of Banking and Financial Economics; 2017, 1(7); 28-50
2353-6845
Pojawia się w:
Journal of Banking and Financial Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Debt as a financial risk factor in SMEs in the Czech Republic
Autorzy:
Kramoliš, Jan
Dobeš, Kamil
Powiązania:
https://bibliotekanauki.pl/articles/22444435.pdf
Data publikacji:
2020
Wydawca:
Instytut Badań Gospodarczych
Tematy:
risk management
debt awareness
company debt
indebtedness
debt repayment
SMEs
Opis:
Research Background: The approach is based on theoretical sources and completed studies on business debt, debt level and repayment awareness and how this issue relates to SMEs in the Czech Republic. Purpose of the article: The main purpose of this paper is to examine the attitude of SMEs towards the issue of company debt and its position within the economy. This attitude is an inherent part of the company´s risk management. Methods: Three researched issues (How strongly is company debt perceived as a financial risk factor; Does the company consider debt to be a serious matter in their business; What measures does the company take to reduce risk) supported by hypotheses, which verified the thesis, were statistically tested. Finding & Value added: Practical implications confirm the thesis that there is a belief that SMEs do not consider debt to be a critical factor of business risk and do not associate it directly with the major risk of business failure. SMEs do not view debt negatively and do not directly link debt to the risk of failure. Consequently, companies consider the risk of indebtedness as relatively insignificant. Their approach to indebtedness is therefore generally passive and they also believe that it will not jeopardize their business, and they will always somehow manage to solve it through insurance, risk avoidance and through creation of financial reserves.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2020, 15, 1; 87-105
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Dylematy wyboru samorządowych instrumentów dłużnych
Dilemmas of choosing local government debt instruments
Autorzy:
Filipiak, Beata Zofia
Dylewski, Marek
Powiązania:
https://bibliotekanauki.pl/articles/2197344.pdf
Data publikacji:
2021
Wydawca:
Kancelaria Sejmu. Biuro Analiz Sejmowych
Tematy:
debt instruments
debt
financing
selection criteria
Opis:
Debt instruments allow local government units to perform both current and investment tasks that are not covered in the budget. Thus, they enable the acceleration of the implementation of tasks aimed at ensuring the development of society. These entities usually choose credit as a debt instrument. In the article, the authors present a discussion on the criteria, but also the dilemmas of choosing local government debt instruments. The aim of the study is to indicate the criteria for selecting debt instruments by local government units in the light of budgetary and financial conditions. The authors also consider the barriers and limitations in the process of selecting a debt instrument.
Źródło:
Studia BAS; 2021, 4(68); 107-129
2080-2404
2082-0658
Pojawia się w:
Studia BAS
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Debt of communes in the light of a new individual debt ratio
Zadłużenie gmin w świetle nowego indywidualnego wskaźnika zadłużenia
Autorzy:
Satola, L.
Powiązania:
https://bibliotekanauki.pl/articles/37883.pdf
Data publikacji:
2015
Wydawca:
Szkoła Główna Gospodarstwa Wiejskiego w Warszawie. Wydawnictwo Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie
Tematy:
debt
commune
budget
self-government debt
public finance
individual debt ratio
Źródło:
Acta Scientiarum Polonorum. Oeconomia; 2015, 14, 4
1644-0757
Pojawia się w:
Acta Scientiarum Polonorum. Oeconomia
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?
Autorzy:
Asonuma, Tamon
Papaioannou, Michael G.
Togo, Eriko
van Selm, Bert
Powiązania:
https://bibliotekanauki.pl/articles/2047046.pdf
Data publikacji:
2020-12-29
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
Sovereign Debt
Sovereign Defaults
Sovereign Debt Restructurings
Serial Debt
Restructurings
Belize
Opis:
This paper examines the causes, process, and outcome of Belize’s 2016–17 sovereign debt restructuring – its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with creditors outside an IMF-supported program. While providing liquidity relief and partially addressing long-term debt sustainability concerns, the restructuring will need to be underpinned by ambitious fiscal consolidation and growth-enhancing structural reforms to secure durable gains and avoid future debt distress situations.
Źródło:
Journal of Banking and Financial Economics; 2020, 2(14); 47-67
2353-6845
Pojawia się w:
Journal of Banking and Financial Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Refinansowanie długu lokalnego w Polsce
Refinancing local debt in Poland
Autorzy:
Budzeń, Daniel
Powiązania:
https://bibliotekanauki.pl/articles/11542183.pdf
Data publikacji:
2016
Wydawca:
Kancelaria Sejmu. Biuro Analiz Sejmowych
Tematy:
refinancing risk of local debt
debt of local government units
public debt
Opis:
The article explores the significance of local debt refinancing risk and ways to prevent its occurrence. For this purpose, the author introduces the concept of ratio of average debt maturity of a local government unit. The author presents the test results of the refinancing risk of the local debt in Poland in 2011–2015. Definition of local debt is also discussed, as well as a review of objectives and risks associated with the management of public debt.
Źródło:
Studia BAS; 2016, 3(47); 197-219
2080-2404
2082-0658
Pojawia się w:
Studia BAS
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The impact of environmental, social and corporate governance responsibility on the cost of short- and long-term debt
Autorzy:
Ratajczak, Piotr
Mikołajewicz, Grzegorz
Powiązania:
https://bibliotekanauki.pl/articles/1837750.pdf
Data publikacji:
2021-06-30
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
CSR
ESG
sustainability
cost of debt
short-term debt
long-term debt
Opis:
The aim of the paper is to examine the impact of environmental, social and corporate governance (ESG) responsibility on the short- and long-term cost of debt. Linear regression was applied to a unique dataset on CSR and cost of debt for 300 companies recognized in 2017 by Corporate Knights as the most sustainable companies in the world. The question about the link between CSR and cost of debt is important as there is still ongoing debate as to whether business should undertake activities in the field of CSR—managers and other stakeholders are still unsure of the outcomes. The findings show that the involvement in environmental issues decreases the cost of long-term debt whereas the involvement in social issues brings benefits to short- and long-term debt. Surprisingly the greater the involvement in corporate governance, the higher the cost of debt in all time horizons. Managers should expect a lower cost of debt from environmental and social activities mostly in the long run. Corporate governance expenditures may in turn be seen as a waste of company resources, cost of forgone opportunities, or—optionally—as an over-investment. The main novelty is the breakdown of CSR into three dimensions while examining various term structures of corporate debt.
Źródło:
Economics and Business Review; 2021, 7, 2; 74-96
2392-1641
Pojawia się w:
Economics and Business Review
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Analysis of debt financing in Polish companies
Autorzy:
Kamela, Adrian Filip
Powiązania:
https://bibliotekanauki.pl/articles/18104634.pdf
Data publikacji:
2021-12-28
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Zarządzania i Finansów
Tematy:
debt financing
debt determinants
capital structure
corporate growth
Opis:
The aim of the research is to analyse various forms of debt financing used by Polish companies. Besides, issues related to corporate growth have been examined. The paper presents answers to the number of research questions and verifies the stated research hypotheses.The conducted empirical research has confirmed to a great extent the findings of previous analyses presented in the examined literature. The relation between entity size and debt financing use has been proved. The bigger a company is, the more often debt is used, and the wider variety of debt forms the company reaches for. The connection between debt financing used for investment purposes and the stage of the company’s life cycle has been shown as well. Recently. debt (mainly investment loans) has been used more frequently, especially for investments. The statement that joint-stock companies have better access to debt financing than companies with other legal forms should also be supported. Consequently, these types of firms use debt more often and choose its more complex forms. Another relation indicated in the research is the positive connection between debt use and the improvement in the general financial situation of the company within the last 3 years.
Źródło:
Journal of Management and Financial Sciences; 2021, 43; 21-37
1899-8968
Pojawia się w:
Journal of Management and Financial Sciences
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Debt Experience of Facebook Users in Poland. A Conceptual Model and Empirical Test
Autorzy:
Cwynar, Andrzej
Cwynar, Wiktor
Filipek, Kamil
Powiązania:
https://bibliotekanauki.pl/articles/1790718.pdf
Data publikacji:
2018-06-18
Wydawca:
Polskie Towarzystwo Socjologiczne
Tematy:
debt experience
debt literacy
social networks
Facebook
SEM
Opis:
Negative debt experiences of individuals lead to costly social and macroeconomic tensions. This study examines the impact of four latent variables, namely financial education, debt literacy, personality, and online personal network, on the debt experience of Facebook users in Poland (N = 1,055). Based on some prior research, we proposed a Structural Equations Model (SEM) testing the relationships among variables hypothesised to be linked to debt experience. The findings indicate that debt experience is a complex phenomenon determined simultaneously by many diverse factors. Surprisingly, the personal networks of Facebook users have no significant impact on the debt experience of our respondents. The findings also suggest that results of any explanatory study on debt experiences may strongly depend on the measures used.
Źródło:
Polish Sociological Review; 2018, 202, 2; 243-265
1231-1413
2657-4276
Pojawia się w:
Polish Sociological Review
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Problem istnienia ryzyka zobowiązań potencjalnych i długu ukrytego w finansach publicznych na wybranych przykładach
Problem of Potential Obligations and Hidden Debt in Public Finances on Selected Examples
Autorzy:
Tobera, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/596523.pdf
Data publikacji:
2019
Wydawca:
Łódzkie Towarzystwo Naukowe
Tematy:
potential debt, hidden debt, debt, debt management, public finance
dług potencjalny; dług ukryty; dług publiczny; zarządzanie długiem publicznym; finanse publiczne
Opis:
The problem of the existence of hidden debt and the high level of potential liabilities (potential debt) appear more and more often in economic debates. It can be said one can see the seed of a future economic crisis within these two key issues. Not so long ago, the European Union demanded that Member States disclose the amount of pension liabilities, i.e. hidden debt. In the case of Poland, the analysts of the Central Statistical Office had no way out, and for the first time in history, they estimated the hidden debt of our country. The sum turned out to be gigantic – it is 4.96 trillion PLN, or 276% of Polish GDP. Similarly, high scores could be noted for most Member States of the Community. The following article is of a theoretical and reviewing nature and is largely based on the analysis of available statistical data. It is further developed by comparing the results with other authors’ research in the same area. The research covers the member countries of the European Union. The main intention of the author is to present the risk of failure of the financial system in the coming years due to the growing level of financial liabilities. These obligations are the main component of the potential debt and hidden debt. Potential debt causes a high risk of collapse of a country’s public finance system, and it carries a number of adverse phenomena, such as an unexpected increase in real debt servicing costs as a result of unplanned budget deficit increase, or the problem of moral hazard. In turn, hidden debt concerns, for example, anticipated effects that may occur in the future as a result of a lack of decisions regarding current and future problems of the functioning and efficiency of the pension system and the health care system.
Problem istnienia długu ukrytego i wysoki poziom tzw. zobowiązań potencjalnych pojawiają się coraz częściej w debatach ekonomicznych. Można powiedzieć, że są to dwa kluczowe zagadnienia, w obrębie których można upatrywać zalążka przyszłego kryzysu ekonomicznego. Nie tak dawno Unia Europejska (UE) zażądała od państw członkowskich ujawnienia wielkości zobowiązań emerytalnych, czyli tzw. długu ukrytego. W przypadku Polski analitycy Głównego Urzędu Statystycznego (GUS) pierwszy raz w historii oszacowali ukryty dług naszego kraju. Suma okazała się być gigantyczna – to 4,96 biliona złotych, czyli 276% polskiego PKB w 2015 r. Poniższy artykuł ma charakter teoretyczno-przeglądowy i został oparty w znacznej części na analizie dostępnych danych statystycznych, a także dodatkowo rozwinięty o przytoczenie ciekawych wyników badań innych autorów w omawianym zakresie. Przedmiotem zainteresowania są kraje członkowskie UE, w tym w szczególności Polska oraz niektóre kraje spoza Europy, które charakteryzuje wysoki poziom długu publicznego. Głównym zamierzeniem autora jest próba przedstawienia czynników determinujących ryzyko niewydolności (utraty możliwości obsługiwania długu) systemu finansowego na świecie w kolejnych latach w związku z narastającym poziomem ukrytych i potencjalnych zobowiązań finansowych. Zobowiązania te stanowią główną składową tzw. długu potencjalnego oraz długu ukrytego. Dług potencjalny powoduje wysokie prawdopodobieństwo załamania systemu finansów publicznych kraju i niesie szereg niekorzystnych zjawisk, takich jak np. nieoczekiwany wzrost kosztów obsługi długu rzeczywistego w konsekwencji nieplanowanego przyrostu deficytu budżetowego czy też problem ujawnienia się tzw. zjawiska hazardu moralnego. Z kolei dług ukryty dotyczy na przykład przewidywanych skutków, jakie mogą nastąpić w przyszłości na skutek braku decyzji odnośnie do obecnych i przyszłych problemów funkcjonowania i wydajności systemu emerytalnego.
Źródło:
Studia Prawno-Ekonomiczne; 2019, 110; 313-331
0081-6841
Pojawia się w:
Studia Prawno-Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned
Autorzy:
Asonuma, Tamon
Xin Li, Mike
Papaioannou, Michael G.
Thomas, Saji
Togo, Eriko
Powiązania:
https://bibliotekanauki.pl/articles/2040944.pdf
Data publikacji:
2018-11-15
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
Sovereign Debt
Sovereign Defaults
Sovereign Debt Restructurings
Serial Debt
Restructurings
Serial Defaults
Grenada
Disaster Clause
Opis:
This paper documents the two debt restructurings that Grenada undertook in 2004–06 and 2013–15. Both restructurings emerged as a consequence of weak fiscal and debt situations, which became unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada’s restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors.
Źródło:
Journal of Banking and Financial Economics; 2018, 2(10); 67-105
2353-6845
Pojawia się w:
Journal of Banking and Financial Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Dług publiczny krajów Unii Europejskiej w okresie pandemii COVID-19
General government debt of European Union countries during the COVID-19 pandemic period
Autorzy:
Górniewicz, Grzegorz
Powiązania:
https://bibliotekanauki.pl/articles/2216827.pdf
Data publikacji:
2023-03-31
Wydawca:
Uniwersytet Rzeszowski. Wydawnictwo Uniwersytetu Rzeszowskiego
Tematy:
dług publiczny
przyczyny zadłużenia
hipoteza nawisu długu
general government debt
causes of debt
debt overhang hypothesis
Opis:
W wyniku kryzysu wywołanego przez pandemię COVID-19 nastąpił dynamiczny wzrost długu publicznego krajów Unii Europejskiej. Bezpośrednią przyczyną okazały się ogromne deficyty budżetowe, mające swoje źródło we wprowadzanych w poszczególnych krajach ograniczeniach życia gospodarczego i pomocy finansowej państw dla najbardziej poszkodowanych branż. W najbliższym czasie prawdopodobnie należy oczekiwać dalszego wzrostu zadłużenia, który w istotnym stopniu będzie wynikał z zaciągania nowych zobowiązań finansowych na potrzeby odbudowy gospodarek krajów UE po kryzysie.Celem opracowania jest przedstawienie zmian w wielkości długu publicznego w warunkach pandemii COVID-19 i identyfikacja implikacji związanych z jego szybkim wzrostem. Oprócz analizy danych statystycznych uwagę skoncentrowano na przyczynach narastania zjawiska, programie odbudowy gospodarki Next Generation EU oraz wpływie zadłużenia na wzrost gospodarczy. Główna teza pracy głosi, że koronawirusowy kryzys spowodował istotny wzrost długu w krajach Unii Europejskiej. Dla zrealizowania przedstawionego wyżej celu pracy i uargumentowania postawionej tezy została wykorzystana metoda badawcza określona jako komparatywna analiza opisowa.
As a result of the crisis caused by the COVID-19 pandemic, the public debt of the European Union countries grew rapidly. The immediate cause was huge budget deficits, rooted in the restrictions introduced in individual countries on economic life and financial aid from states to the most affected branches. In the near future, further increases in debt are likely to be expected, whichwill be driven to a significant extent by the incurring of new financial obligations to rebuild the economies of EU countries after the crisis.The purpose of the study is to present the changes in the size of public debt under the COVID-19 pandemic and to identify the implications of its rapid growth. In addition to the analysis of statistical data, attention was focused on the causes of the build-up, the Next Generation EU economic recovery program and the impact of debt on economic growth. The main thesis of the work proclaims that the coronavirus crisis caused a significant increase in debt in the European Union countries. In order to realize the purpose of the work presented above and to argue the thesis, a research method known as comparative descriptive analysis was used.
Źródło:
Nierówności Społeczne a Wzrost Gospodarczy; 2023, 73; 21-38
1898-5084
2658-0780
Pojawia się w:
Nierówności Społeczne a Wzrost Gospodarczy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Debt Reduction in the Eurozone
Autorzy:
Sawicki, Janusz
Powiązania:
https://bibliotekanauki.pl/articles/953225.pdf
Data publikacji:
2011-08-31
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
sovereign debt crisis
bailout
debt reduction
eurozone
peripheral countries
Opis:
When the Greek crisis exploded in the spring of 2010 the eurozone countries collected funds to refinance Greece’s debt in order to stave off a banking crisis. Later Ireland and Portugal asked for similar eurozone assistance. Because refinancing (bailout) was not sufficient to enable these peripheral countries to solve their debt problems, they agreed to implement austerity programs so that they could use eurozone countries’ public funds. But these austerity measures, even if politically affordable, will not suffice. It is exceedingly possible that the peripheral countries will not outgrow their problems and will be unable to return to capital markets at their pre-crisis levels. Their debt-to-GDP as well as debt services-to-income ratios are likely to grow and additional debt reorganization programs including debt reduction (haircut) will be required. At the heart of the issue is the potential impact of a reduction of the peripheral economies’ debt on the monetary financial institutions of all European Union countries. As a result of the restructuring and partial debt reduction, banks may need to receive public support. To address these problems a new solution in the form of the European Stability Mechanism (EMS) has been proposed. It is expected to change the way in which the eurozone functions. However, the EMS idea is based on the same philosophy as the existing bailout instruments. It does not address the equal treatment and moral hazard issues, while the conditionality programs proposed so far have not softened the adverse impact of the growing debt burden on the economic performance of the debt-laden countries. The entire European Union financial system is at risk and remains vulnerable as long as the refinancing mechanisms are not supported by debt restructuring and reduction. Debt managers do not seem to know how to draw on past experience and so ad hoc measures prevail. To effectively manage that kind of debt reorganization, the European Union should create the necessary procedures to efficiently address the economic future of all heavily indebted economies. The EU should also be prepared politically to accept the costs of debt reduction or of a fundamental reorganization of the eurozone.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2011, 249, 7-8; 1-20
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Wyświetlanie 1-15 z 550

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