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Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link
Cordella, Tito; Ricci, Luca Antonio; Ruiz-Arranz, Marta - International Monetary Fund (IMF) - 2005
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
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An Alternative Explanation for the Resource Curse; The Income Effect Channel
Alichi, Ali; Arezki, Rabah - International Monetary Fund (IMF) - 2009
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
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The Elusive Gains From International Financial Integration
Gourinchas, Pierre-Olivier; Jeanne, Olivier - International Monetary Fund (IMF) - 2004
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
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Capital Flows to EU New Member States; Does Sector Destination Matter?
Mitra, Pritha - International Monetary Fund (IMF) - 2011
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
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Financing Growth in the WAEMU Through the Regional Securities Market; Past Successes and Current Challenges
Diouf, Mame Astou; Boutin-Dufresne, Francois - International Monetary Fund (IMF) - 2012
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
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HIV/AIDS; The Impacton Poverty and Inequality
Haacker, Markus; Salinas, Gonzalo - International Monetary Fund (IMF) - 2006
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
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The Macroeconomic Impact of HIV/AIDS in Botswana
Sgherri, Silvia; MacFarlan, Maitland - International Monetary Fund (IMF) - 2001
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
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Modeling the Macroeconomic Impact of HIV/AIDS
Haacker, Markus - International Monetary Fund (IMF) - 2002
The paper addresses the impact of HIV/AIDS on per capita output and income, with particular emphasis on the role of … finds that HIV/AIDS affects both the supply of labor and the demand for labor in the formal sector. Only if there is a … HIV/AIDS on output is complemented by an assessment of the impact on income. …
Persistent link: https://www.econbiz.de/10005599497
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Fiscal Sustainability in Heavily Indebted Countries Dependenton Nonrenewable Resources; The Case of Gabon
Ntamatungiro, Joseph - International Monetary Fund (IMF) - 2004
This paper proposes a framework for assessing fiscal sustainability in heavily indebted countries dependent on exhaustible resources, with reference to Gabon. It finds that fiscal sustainability could be achieved by: (i) developing a fiscal rule for the non-oil primary fiscal balance compatible...
Persistent link: https://www.econbiz.de/10005248171
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The Dynamic Implications of Debt Relief for Low-Income Countries
Bulir, Ales; Romero-Barrutieta, Alma; … - International Monetary Fund (IMF) - 2011
The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with a minimum consumption requirement and an endogenous relief probability, we show...
Persistent link: https://www.econbiz.de/10009203529