Most widely held works by Brian Pinto
Dismantling Russia's nonpayments system creating conditions for growth by Brian Pinto ( Book )
8 editions published in 2000 in English and held by 588 libraries worldwide
Debt or equity? how firms in developing countries choose by Jack D Glen ( Book )
12 editions published in 1994 in English and held by 446 libraries worldwide
Managing economic volatility and crises : a practitioner's guide ( Book )
9 editions published between 2005 and 2010 in English and held by 248 libraries worldwide
This collection explores the phenomenon of economic volatility, which studies show had adverse effects on long-run growth, especially in poor countries. Its contribution is to bring together concepts, empirical results, and policy recommendations in a relatively new field in economics.
Coping with capitalism : the new Polish entrepreneurs by Bohdan Wyżnikiewicz ( Book )
3 editions published in 1993 in English and held by 104 libraries worldwide
Sargent-Wallace meets Krugman-Flood-Garber, or, why sovereign debt swaps don't avert macroeconomic crises by Joshua Aizenman ( Book )
6 editions published in 2002 in English and No Linguistic content and held by 72 libraries worldwide
Managing volatility and crises : a practitioner's guide overview by Joshua Aizenman ( Book )
6 editions published in 2004 in English and No Linguistic content and held by 68 libraries worldwide
"This overview introduces and summarizes the findings of a practical volume on managing volatility and crises. The interest in these topics stems from the growing recognition that non-linearities tend to magnify the impact of economic volatility leading to large output and economic growth costs, especially in poor countries. In these circumstances, good times do not offset the negative impact of bad times, leading to permanent negative effects. Such asymmetry is often reinforced by incomplete markets, sovereign risk, divisive politics, inefficient taxation, procyclical fiscal policy and weak financial market institutions factors that are more problematic in developing countries. The same fundamental phenomena that make it difficult to cope with volatility also drive crises. Hence, the volume also focuses on the prevention and management of crises. It is a user-friendly compilation of empirical and policy results aimed at development policy practitioners divided into three modules: (i) the basics of volatility and its impact on growth and poverty; (ii) managing volatility along thematic lines, including financial sector and commodity price volatility; and (iii) management and prevention of macroeconomic crises, including a cross-country study, lessons from the debt defaults of the 1980s and 1990s and case studies on Argentina and Russia"--National Bureau of Economic Research web site.
Sources for financing domestic capital-- : is foreign saving a viable option for developing countries by Joshua Aizenman ( Book )
4 editions published in 2004 in English and held by 67 libraries worldwide
"This paper proposes a new method for measuring the degree to which the domestic capital stock is self-financed. The main idea is to use the national accounts to construct a self-financing ratio, indicating what would have been the autarky stock of tangible capital supported by actual past domestic saving, relative to the actual stock of capital. We use the constructed measure of self-financing to evaluate the impact of the growing global financial integration on the sources of financing domestic capital stocks in developing countries. On average, 90% of the stock of capital in developing countries is self financed, and this fraction was surprisingly stable throughout the 1990s. The greater integration of financial markets has not changed the dispersion of self-financing rates, and the correlation between changes in de-facto financial integration and changes in self-financing ratios is statistically insignificant. There is no evidence of any growth bonus' associated with increasing the financing share of foreign savings. In fact, the evidence suggests the opposite: throughout the 1990s, countries with higher self-financing ratios grew significantly faster than countries with low self-financing ratios. This result persists even after controlling growth for the quality of institutions. We also find that higher volatility of the self-financing ratios is associated with lower growth rates, and that better institutions are associated with lower volatility of the self-financing ratios. These findings are consistent with the notion that financial integration may have facilitated diversification of assets and liabilities, but failed to offer new net sources of financing capital in developing countries"--National Bureau of Economic Research web site.
Ownership and corporate control in Poland : why state firms defied the odds by Brian Pinto ( Book )
7 editions published between 1994 and 1995 in English and held by 54 libraries worldwide
Economic growth with constraints on tax revenues and public debt implications for fiscal policy and cross-country differences by Joshua Aizenman ( Book )
3 editions published in 2007 in English and held by 38 libraries worldwide
"This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited enforceability result in limited fiscal capacities, as captured by a maximal effective tax rate. We show how persistent differences in growth rates across countries could stem from differential public finance constraints, and differentiate between the case where the public expenditure finances the flow of recurring spending (such as law enforcement), versus the stock of tangible public infrastructure. Although the flow of public expenditure raises productivity, the government should not borrow to finance it as the resulting increase in public debt would lower welfare and the growth rate. With outstanding public debt, the optimal fiscal policy should keep the debt-to-GDP ratio constant in the economy with or without a binding constraint on tax revenues as a share of GDP - current non-durable public goods should be financed only from current revenue. With investment in the stock of public infrastructure, public sector borrowing to finance the accumulation of public capital goods may allow the economy to reach a long-run optimal growth path faster. With a binding tax capacity constraint, if the ratio of the initial public/private sector stock of capital is smaller than the sustainable balanced growth ratio, the optimal policy for the government is to purchase public capital, financed by debt, to immediately attain the sustainable ratio of public capital to private capital. The sustainable steady-state ratio is endogenous to the initial public-to-private capital ratio, the tax capacity and any exogenous debt limit (say, due to sovereign risk). With capital stock adjustment costs, these statements apply to a transition of finite duration rather than an instantaneous stock jump. With either a binding exogenous debt limit or solvency constrained borrowing, a more patient country will have a higher steady-state growth rate but a lower steady-state public-to-private capital ratio"--National Bureau of Economic Research web site.
Public debt in developing countries : has the market-based model worked by Indermit Singh Gill ( Book )
6 editions published in 2005 in English and held by 32 libraries worldwide
"Over the past 25 years, significant levels of public debt and external finance are more likely to have enhanced macroeconomic vulnerability than economic growth in developing countries. This applies not just to countries with a history of high inflation and past default, but also to those in East Asia, with a long tradition of prudent macroeconomic policies and rapid growth. The authors examine why with the help of a conceptual framework drawn from the growth, capital flows, and crisis literature for developing countries with access to the international capital markets (market access countries or MACs). They find that, while the chances of another generalized debt crisis have receded since the turbulence of the late 1990s, sovereign debt is indeed constraining growth in MACs, especially those with debt sustainability problems.
Transforming state enterprises in Poland : microeconomic evidence on adjustment by Brian Pinto ( Book )
7 editions published in 1993 in English and held by 30 libraries worldwide
India : why fiscal adjustment now by Brian Pinto ( Book )
6 editions published between 2003 and 2004 in English and held by 28 libraries worldwide
India rising : faster growth, lower indebtedness by Gaobo Pang ( Book )
7 editions published in 2007 in English and held by 25 libraries worldwide
Over the past 25 years, India's economy grew at an average real rate of close to 6 percent, with growth rates in recent years accelerating to 9 percent. Yet by 2005-06, the general government debt-to-GDP ratio was 34 percentage points higher than in the 1980s. The authors examine the links between public finances and growth in the post-1991 period. They argue that the main factor in the deterioration of government debt dynamics after the mid-1990s was a reform-induced loss in trade, customs, and financial repression taxes. Over time, these very factors plus lower entry barriers have contributed to stronger microfoundations for growth by increasing competition and hardening budget constraints for firms and financial sector institutions. The authors suggest that the impressive growth acceleration of the past few years, which is now lowering government indebtedness, can be attributed to the lagged effects of these factors, which have taken time to attain a critical mass in view of India's gradual reforms. Similarly, the worsening of public finances during the late 1990s can be attributed to the cumulative effects of tax losses, the negative growth effects of cuts in capital expenditure that were made to offset the tax losses, and a pullback in private investment (hence, growth and taxes), a situation which is now turning around. Insufficient capital expenditures have contributed to the infrastructure gap, which is seen as a constraint especially for rapid growth in manufacturing. The authors discuss ongoing reforms in revenue mobilization and fiscal adjustment at the state level, which if successfully implemented, will result in a better alignment of public finances with growth by generating further fiscal space for infrastructure and other development spending.
Give growth and macroeconomic stability in Russia a chance : harden budgets by eliminating nonpayments by Brian Pinto ( Book )
5 editions published in 2000 in English and held by 24 libraries worldwide
In Russia, implicit subsidies amounting to 10 percent of GDP per year in the form of nonpayments have stifled growth, contributed to the August 1998 macroeconomic crisis through their impact on public debt, and made at best a questionable contribution to equity. Hardening budgets requires that these nonpayments - or mutual arrears and noncash settlements among the government, the energy monopolies, and manufacturing firms - be eliminated with energy bills, taxes and budgetary spending settled on time and in cash.
Microeconomics of transformation in Poland : a survey of state enterprise responses by Brian Pinto ( Book )
4 editions published in 1992 in English and held by 24 libraries worldwide
Black markets for foreign exchange, real exchange rates, and inflation : overnight versus gradual reform in Sub-Saharan Africa by Brian Pinto ( Book )
3 editions published in 1988 in English and held by 23 libraries worldwide
Black market premia, exchange rate unification, and inflation in Sub-Saharan Africa : background paper for the 1988 world development report by Brian Pinto ( Book )
1 edition published in 1988 in English and held by 19 libraries worldwide
Economic growth with constraints on tax revenues and public debt by Joshua Aizenman ( Book )
2 editions published between 2006 and 2007 in English and held by 9 libraries worldwide
Coping with capitalism : the new Polish entrepreneurs ( Book )
1 edition published in 1993 in English and held by 3 libraries worldwide
Debt or equity? cHow firms in developing countries choose by Jack D Glen ( Book )
1 edition published in 1994 in English and held by 2 libraries worldwide
Africa, Sub-Saharan Black market in foreign exchange Budget Business cycles Business enterprises Businesspeople Capitalism Capital market Corporate governance Corporations, Government Corporations--Finance Debts, Public Developing countries Economic development Economic history Economic policy Expenditures, Public Finance Finance, Public Finance, Public--Econometric models Financial crises Fiscal policy Fiscal policy--Econometric models Foreign exchange Free enterprise Government business enterprises India Indonesia Industrial management Inflation (Finance) Investments, Foreign Kenya Nigeria Payment Petroleum industry and trade--Economic aspects Poland Political science Political stability Privatization Russia (Federation) Structural adjustment (Economic policy) Subsidies Swaps (Finance) Tax administration and procedure Tax evasion