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India’s real GDP growth slipped substantially after the North Atlantic financial crisis. Return to a sustained high … growth trajectory is feasible but it will need much more focused attention to the revival of manufacturing and to the … ahead will be more difficult in view of the protracted slowdown in global growth and trade. …
Persistent link: https://www.econbiz.de/10011242441
of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then …
Persistent link: https://www.econbiz.de/10011142116
The volume of foreign aid has increased during the last four decades, albeit with interruptions in certain years. Over time, the major recipients have changed: while the share of aid to Asia has diminished since the 1980s, that destined for sub-Saharan Africa has grown. There is some evidence...
Persistent link: https://www.econbiz.de/10005263710
We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on World Bank data. From 1970-2000, returns averaged 9 percent per annum, about the same as returns on a ten-year U.S. treasury bond. This reflects the combined effect of the 1980s...
Persistent link: https://www.econbiz.de/10005264003
This paper attempts to identify robust patterns of cross-country growth behavior in the world as a whole and Africa. It …, exogenous terms-of-trade shocks, and fixed geographical factors are robustly correlated with growth; (ii) what is good for … growth around the world is, in principle, also good for growth in Africa; and (iii) political and institutional variables are …
Persistent link: https://www.econbiz.de/10005264072
This paper provides updated information on the external debt problem of sub-Saharan Africa. Between 1980 and 1990 the region’s external debt more than tripled, to US$171 billion, while debt service payments and rescheduling rose by more than 150 percent to US$20 billion. In addition, the...
Persistent link: https://www.econbiz.de/10005264073
This paper discusses the Heavily Indebted Poor Countries (HIPC) Initiative in the perspective of sizable historical debt relief and large positive net resource flows to HIPCs. It argues that, by substantially reducing HIPCs’ debt stocks and debt service payments, the Initiative provides a...
Persistent link: https://www.econbiz.de/10005264094
The paper shows that a coinsurance arrangement among countries can, in principle, play a useful role in helping countries bear the risks involved in developing their economies and integrating into the global financial system. The operation of the coinsurance arrangement is examined under...
Persistent link: https://www.econbiz.de/10005264158
This paper finds optimal fiscal rule parameter values and measures the effects of imposing fiscal rules using a default model calibrated to an economy that in the absence of a fiscal rule pays a significant sovereign default premium. The paper also studies the case in which the government...
Persistent link: https://www.econbiz.de/10009650638
calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the …
Persistent link: https://www.econbiz.de/10009650640