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DEBT SUSTAINABILITY: A CASE STUDY OF BHUTAN
Údaje o názvu DEBT SUSTAINABILITY: A CASE STUDY OF BHUTAN [rukopis] / Gaki Dem Další variantní názvy Debt Sustainability:Issues and Implications- A case study of Bhutan Osobní jméno Dem, Gaki, (autor diplomové práce nebo disertace) Překl.náz Debt Sustainability:Issues and Implications Vyd.údaje 2019 Fyz.popis 44 p. (14639 words) : il., grafy, tab. + 1 CD Poznámka Ved. práce Gianni Vaggi Oponent Maria Sassi Dal.odpovědnost Vaggi, Gianni, (vedoucí diplomové práce nebo disertace) Sassi, Maria, (oponent) Dal.odpovědnost Univerzita Palackého. Katedra rozvojových studií (udelovatel akademické hodnosti) Klíč.slova Debt-Sustainability * VECM * Geometry of Debt Sustainability * Debt-Sustainability * VECM * Geometry of Debt Sustainability Forma, žánr diplomové práce master's theses MDT (043)378.2 Země vyd. Česko Jazyk dok. angličtina Druh dok. PUBLIKAČNÍ ČINNOST Titul Mgr. Studijní program Navazující Studijní program Geography Studijní obor International Development Studies kniha
Kvalifikační práce Staženo Velikost datum zpřístupnění 00249309-492192534.pdf 39 2.9 MB 31.05.2019 Posudek Typ posudku 00249309-ved-623179647.pdf Posudek vedoucího 00249309-opon-816919189.pdf Posudek oponenta
This study empirically investigated the debt sustainability of Bhutan by adopting Geometry of Debt Sustainability. The study is carried out by separating the total external debt into hydropower-related debt and non-hydropower debt. The results revealed that the hydropower debt which accounts for 77% of total external debt is found unsustainable while, the non-hydropower debt appears sustainable based on this analysis. The high level of current account deficit (21% of GDP) accompanied by the non-concessional interest rate on hydropower loans are the main factors contributing to the nonsustainability of hydropower debt. The study further estimated the governments' reaction towards an increasing level of government debt through estimation of fiscal reaction function for the period 1985-2017. Unit root and cointegration techniques, and Vector Error Correction Model (VECM) are used to determine the behaviour of the government. The findings showed that the government is taking corrective measures to the increasing debt to ensure fiscal sustainability.This study empirically investigated the debt sustainability of Bhutan by adopting Geometry of Debt Sustainability. The study is carried out by separating the total external debt into hydropower-related debt and non-hydropower debt. The results revealed that the hydropower debt which accounts for 77% of total external debt is found unsustainable while, the non-hydropower debt appears sustainable based on this analysis. The high level of current account deficit (21% of GDP) accompanied by the non-concessional interest rate on hydropower loans are the main factors contributing to the nonsustainability of hydropower debt. The study further estimated the governments' reaction towards an increasing level of government debt through estimation of fiscal reaction function for the period 1985-2017. Unit root and cointegration techniques, and Vector Error Correction Model (VECM) are used to determine the behaviour of the government. The findings showed that the government is taking corrective measures to the increasing debt to ensure fiscal sustainability.
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