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Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and other country characteristics in a panel of developing...
Persistent link: https://www.econbiz.de/10005604811
The paper provides an alternative explanation for the "resource curse" based on the income effect resulting from high government current spending in resource rich economies. Using a simple life cycle framework, we show that private investment in the non-resource sector is adversely affected if...
Persistent link: https://www.econbiz.de/10008528647
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
Persistent link: https://www.econbiz.de/10005605034
The recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows. This paper empirically argues that the sectors into which capital flows determines their impact on GDP growth. Applying data from EU New Member States, it is found that capital...
Persistent link: https://www.econbiz.de/10009019584
The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional...
Persistent link: https://www.econbiz.de/10011242273
Persistent link: https://www.econbiz.de/10003321558
Persistent link: https://www.econbiz.de/10003132576
Persistent link: https://www.econbiz.de/10000913538
Using available data on the distribution of HIV/AIDS prevalence across population groups for four sub-Saharan African … countries and transposing this information to household income and expenditure surveys, we simulate the impact of HIV/AIDS on …
Persistent link: https://www.econbiz.de/10005825925
This paper provides an overview of the potential macroeconomic effects of HIV/AIDS in Botswana, focusing on the key … impact of HIV/AIDS, a dual-economy equilibrium model is constructed and simulated under different scenarios. Depending on … exactly how AIDS affects the outlook, GDP growth is projected to fall from around 5½ percent a year without the pandemic to …
Persistent link: https://www.econbiz.de/10005826153