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Helping the Poor to Help Themselves : Debt Relief or Aid

Arslanalp, Serkan - 2004

Debt relief is unlikely to stimulate investment and growth in the world's highly indebted poor countries (HIPCs). This … is because the HIPCs do not suffer from debt overhang. The principal obstacle to investment and growth in the world …

Persistent link: https://www.econbiz.de/10012468463

Why is there Multilateral Lending?

Rodrik, Dani - 1995

Why should multilateral lending exist in a world where private capital markets are well developed and governments have … their own bilateral aid programs? If lending by the World Bank, IMF, and regional development banks has an independent …

Persistent link: https://www.econbiz.de/10012473722

Colonialism, Inequality, and Long-Run Paths of Development

Engerman, Stanley L. - 2005

Over the last few years, colonialism, especially as pursued by Europeans, has enjoyed a revival in interest among both scholars and the general public. Although a number of new accounts cast colonial empires in a more favorable light than has generally been customary, others contend that...

Persistent link: https://www.econbiz.de/10012467630

New Data, New doubts : A Comment on Burnside and Dollar's "Aid, Policies, and Growth" (2000)

Easterly, William - 2003

The Burnside and Dollar (2000, AER) finding that aid raises growth in a good policy environment has had an important influence on policy and academic debates. We conduct a data gathering exercise that updates their data from 1970 -93 to 1970 -97, as well as filling in missing data for the...

Persistent link: https://www.econbiz.de/10012468851

Politics and the Effectiveness of Foreign Aid

Boone, Peter David - 1995

Critics of foreign aid programs have long argued that poverty reflects government failure. In this paper I analyze the effectiveness of foreign aid programs to gain insights into political regimes in aid recipient countries. My analytical framework shows how three stylized political/economic...

Persistent link: https://www.econbiz.de/10012473562

Hiccups for HIPCs?

Burnside, Craig - 2004

In this paper we discuss fiscal and monetary policy issues facing heavily-indebted poor countries (HIPCs) who receive debt reduction via the enhanced HIPC initiative. This debt relief program is distinguished from previous ones by its conditionality: freed resources must be used for poverty...

Persistent link: https://www.econbiz.de/10012467784

Is Debt Relief Efficient?

Arslanalp, Serkan - 2004

When Less Developed Countries (LDCs) announce debt relief agreements under the Brady Plan, their stock markets appreciate by an average of 60 percent in real dollar terms a $42 billion increase in shareholder value. In contrast, there is no significant stock market increase for a control group...

Persistent link: https://www.econbiz.de/10012468477

Debt Relief

Arslanalp, Serkan - 2006

OECD countries--a mere one-seventieth (1/70) of the quantity of official development assistance agreed to by world leaders … for debt relief to generate economic gains. Since the world's poorest countries do not suffer from debt overhang, debt … relief is unlikely to stimulate their investment and growth. The principal obstacle to investment and growth in the world …

Persistent link: https://www.econbiz.de/10012466481

Debt Relief : What Do the Markets Think?

Arslanalp, Serkan - 2002

The stock market appreciates by an average of 60 percent in real dollar terms when countries announce debt relief agreements under the Brady Plan. In contrast, there is no significant increase in market value for a control group of countries that do not sign agreements. The results persist after...

Persistent link: https://www.econbiz.de/10012469334

Debt Relief and Fiscal Sustainability

Edwards, Sebastian - 2002

In this paper I analyze the relationship between fiscal policy, aggregate public sector debt sustainability, and debt relief. I develop a methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in the post-HIPC era. The model explicitly considers the...

Persistent link: https://www.econbiz.de/10012469775