Investment in most heavily indebted countries has been weak since 1982. Several papers (Krugman, 1988; Corden, 1988; Sachs, 1989) have subsequently established the debt overhang proposition: the existence of a heavy debt burden reduces the incentive to invest.1 This proposition has given an important...

Global governance refers to several pillars; one important pillar is the multilateral aid architecture. Its reform can be discussed under the perspectives of representativeness, inclusiveness, and efficiency (of aid delivery).A prerequisite for efficient aid delivery is to map the rising...