Debt Sustainability and Innovative Approaches for Socioeconomic Sustainability

P. K. Rao ()
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P. K. Rao: International Development Consultant

Chapter Chapter 5 in Government Austerity and Socioeconomic Sustainability, 2015, pp 35-44 from Springer

Abstract: Abstract The rigidity and dogmatic approach to fiscal consolidation and debt sustainability have major avoidable adverse consequences. Objective pursuit of holistic strategies offer improved win-win solutions to the financial crises, without inflicting considerable pain and suffering on the vulnerable sections of the society. Flexibility in debt workout plans, issuance of long term bonds that facilitate productive employment creation, adoption of globalized version of the US Bankruptcy Code Chap. 9 to facilitate sustained public spending, and adoption of socioeconomic approaches for government austerity are among the key aspects of new mechanism of fiscal governance and maintaining socioeconomic sustainability.

Keywords: Debt repayment flexibility; Chapter 9 US bankruptcy code; Social protection; Disasters; Transaction cost economics (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-04235-0_5

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DOI: 10.1007/978-3-319-04235-0_5

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