Initial conditions matter in economic restructuring

Finally, global economic conditions will compel even more restructuring upon Japan.

Third is growth led by economic restructuring and diversification into new products.

The other steps involve economic restructuring at the national level and political integration of the eurozone.

In Japan, QE may have contributed to delays in economic reform and restructuring, thereby weakening longer term economic growth and exacerbating fiscal distress.

Neither does it preclude the use of activist trade and industrial policies in pursuit of economic restructuring.

Devaluation and debt restructuring worked.

Painful restructuring is sure to follow.

Calls for immediate debt restructuring went unheeded.

The Lethal Deferral of Greek Debt Restructuring

Defaulting, restructuring, changing the terms has consequences.

There is, moreover, little evidence that a deep involuntary restructuring would be any more traumatic than a deep voluntary restructuring.

Securitization made debt restructuring difficult, if not impossible.

Alternatives to a debt restructuring are fast disappearing.

That necessitates restructuring both tax and expenditure programs.

A country drowning in debt needs debt restructuring.

So began the restructuring of the sugar industry.

But that begs the question why should an involuntary restructuring lead to worse contagion than a voluntary restructuring of comparable depth?

If the bonds were acceptable as collateral before the restructuring, surely they were safer after the restructuring, and thus equally acceptable.

If Germany is to maintain its economic dominance, it will have to do something far harder than keeping wages in check or restructuring hierarchies.

What is needed is coordinated restructuring and policy setting.

Europe also needs a restructuring policy for land use.

The whole point of restructuring was to discharge debt and make the remainder more manageable. If the bonds were acceptable as collateral before the restructuring, surely they were safer after the restructuring, and thus equally acceptable.

But the most interesting new fact in European economics is surely the belief, hope, and perhaps reality, of economic restructuring on a variety of fronts.

In order to improve its prospects, South Korea must pursue economic reform and restructuring, with an emphasis on maximizing its human capital resources especially women.

Recessions have important cleansing effects, helping to facilitate painful restructuring.

But increased competition, restructuring, and new technologies inevitably displace workers.

Debt restructuring would have given Europe the reset it needed.

Coercive restructuring of insolvent banks unsecured debt would be next.

That restructuring will occur, deficit spending or no deficit spending.

If most investors accept this offer, the restructuring occurs successfully.

2. Europe also needs a restructuring policy for land use.

Through its delays the IMF incited both devaluation and default, with a resulting economic collapse far worse than if some preventive debt restructuring had been insisted upon.

Germany insists on a deep restructuring at least a 50 haircut for bondholders whereas the European Central Bank insists that any debt restructuring must be voluntary.

If this principle prevails, no one would ever accept debt restructuring.

When discipline failed to solve the problem, he launched perestroika ( restructuring ).

No debt restructuring took place and, small surprise, Russia's economy collapsed.

The inapplicability of Chapter 9 makes orderly debt restructuring very difficult.

Recalling its resolutions on the restructuring and revitalization of the United Nations in the economic, social and related fields, particularly its resolution 50 227 of 24 May 1996,

But that begs the question why should an involuntary restructuring lead to worse contagion than a voluntary restructuring of comparable depth? If the banking system were well regulated, with banks holding sovereign debt having purchased insurance, an involuntary restructuring should perturb financial markets less.

But, as we know from experience, there is life after debt restructuring.

The restructuring of economies away from finance will necessarily take some time.

So it is not debt restructuring, but its absence, that is immoral.

Restructuring a SOE into a shareholding firm and listing it improves performance.

That restructuring will occur, deficit spending or no deficit spending. So policy needs to acknowledge the fact that there are limits to how fast this restructuring can be accomplished.