TAILIEUCHUNG - The functioning of government bonds the example of Greece and Vietnam

The article begins with a description of the basic functionality of government bonds. The most important attributes of bonds and their appraisal are described by means of present value. A number of simplifications will be carried out (. assumptions of final date yields and a flat yield curve). In practice, however, flat yield curves are not typical. | Researches & discussions The article begins with a description of the basic functionality of government bonds. The most important attributes of bonds and their appraisal are described by means of present value. A number of simplifications will be carried out (. assumptions of final date yields and a flat yield curve). In practice, however, flat yield curves are not typical. Although taking normal yield curves into consideration would not pose a problem in terms of method, it would be unnecessary for a demonstration of the central problems and would also extend and complicate it unnecessarily. This is very similar in the case of assumptions of final date yields. By means of an assessment of bonds on international capital markets the second part of the article deals with the consequences and outcomes for the Greek government. This is followed by a short description of the EU bailout measures. After this, a thesis as to the winners and losers of the Greek crisis follows. Finally, from the crisis in Greece, a number of recommendations for action can be derived for Vietnam. I would like to thank my colleague Prof. Dr. Rainer Stachuletz for his suggestions for an action plan for Vietnam. Keywords: Debt moratorium, gold investment, government bonds, international capital markets, present value, redemption quota, rescue package, risk premium, self-indulgent financial crises, taxpayers. * Berlin School of Economics and Law Economic Development Review - January 2011 31 Researches & discussions 1. Basic principles of government bonds The basic principle of government bonds can be illustrated in Figure 1 as follows: tional investors, public institutions and individual investors can also purchase government bonds and assume the role of the creditor. Figure 1: Basic principles of government bonds Legally this deals with the debt relationship between the government and the buyers (investors) of bonds. The state borrows money and is the debtor. investors are .

• Kinh tế học
• Debt moratorium
• Gold investment
• Government bonds
• International capital markets
• Present value
• Redemption quota
• Rescue package
• Risk premium
• Time series models
• Forecasting and other model applications
• Foreign exchange risk
• Time varying risk premium
• Open economy macroeconomics
• International policy coordination
• Information and market efficiency
• Equity risk premium
• Bounds testing approach
• Macroeconomic variables
• Implement monetary policy
• Selected macroeconomic variables
• Fama and French three factor model
• Quantile regression
• Size premium
• Value premium
• financial and regulatory contexts
• asset and risk management
• underlying theories of asset management
• risk management
• asset management and risk management
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• Lecture Money and Banking
• Bài giảng Tiền tệ và Ngân hàng
• Money and Banking
• Measuring risk
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