City Tech’s Dr. Unurjargal Nyambuu, Assistant Professor of Economics, will present her talk titled “Financing Economic Development: The Role of External Debt in Emerging Economies” as part of the Department of Social Science Colloquium on May 18, from 1-2 p.m. in Namm 601A. Light refreshments will be served.
Dr. Nyambuu’s research assesses different external financing sources for economic development, highlighting the sustainability of external debt. A lack of external debt, for certain developing countries, may not allow for the development of needed infrastructure. On the other hand, over-dependence on external debt for both public and private debts may lead to a debt crisis.
Dr. Nyambuu shows that for resource-rich countries that used their resources as collateral and have borrowed large sums, default risk increased, sometimes leading to a debt crisis. The obvious implication is that the default probability, and therefore the yield, on sovereign issues will rise—increasing borrowing costs as a result. Her research shows that external debt might be used as a warning signal in certain situations.
The current system of organ donation fails to meet the needs of parents waiting for a transplant. Two policies have the potential to overcome this problem and save lives: a market in organs and the mandatory procurement of organs. However, both policies face criticisms for violating individual autonomy. When a poor individual decides to sell a kidney in a regulated market, is she acting autonomously or under coercion? When a deceased person’s organs are procured for transplantation regardless of the individual’s and the family’s wishes, is their autonomy violated? In this talk, I argue that even if the suppliers in current and futures market in organs are typically financially desperate, this does not make their ac2on coerced. On the other hand, while mandatory procurement of organs from the living certainly violates individual autonomy, the argument from autonomy fails to make a strong case against the mandatory procurement of organs from the deceased.