Limited liability debt financing of irreversible investments can affect investment timing through an entrepreneur … profitability to the entrepreneur, and increases the investment threshold. The net effect is negative, because lower downside risk … implicitly assumes debt to be neutral. With non-neutrality of debt, an investment threshold is higher than investment cost, but …

unemployment, undue instability, and excess debt. …

opening, exchange rate policies, alternatives to debt financing and the role of the international financial institutions. The … 1991 and 2001, together with the lack of nationally coherent fiscal and development policies, led to a classic debt …

paper observes that the third world’s debt crisis resulted from an exponential increase in external indebtedness … worsened the debt portfolio of third world countries by refinancing maturing loans with shorter maturities. These countries …This paper investigates underlying causes of the debt crisis that only surfaced with Mexico’s unilateral moratorium on …

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the …

. Lavoie (1995) has proposed a Kaleckian ‘Minsky-Steindl-model’ of distribution and growth, incorporating the effects debt and … debt services have on short and long run capital accumulation. This attempt, however, can be extended because neither has … effects of debt and debt services are explicitly introduced, the effects of interest rate variations on the short and the long …

Reasonable levels of external debt that would help finance productive investment are expected to enhance economic … consequently affect poverty negatively. To investigate the effect of debt [domestic and external] and growth on poverty using the … per capita income approach, the study augments a growth and debt specifications based on conditional convergence by adding …

spending in recipient countries. We also do not find evidence that debt relief has raised growth, investment rates or the …Between 1989 and 2003, low-income countries received $100 billion in debt relief. The stated objectives for much of … this debt relief have been to reduce debt overhang and to free up recipient government resources for development spending …