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information can be deduced through indirect disclosure of debt statistics to external agents, such as the World Bank and the … across the two. Cross-comparison of direct reporting and the World Bank-International Monetary Fund Debt Sustainability …
Persistent link: https://www.econbiz.de/10013255285
Despite the popularity of the term among advocates of debt forgiveness, there is little agreement on a workable definition of "odious" debts and there are but few examples where the concept has been invoked in law to justify non-payment of sovereign debts. Most often, these have been cases when...
Persistent link: https://www.econbiz.de/10012552467
This paper acknowledges the fact that some countries have to borrow in foreign currencies due to the various constraints they face. Starting from this point, the author reviews approaches for trying to determine the currency structure for sovereign debt, and discusses some issues inherent in...
Persistent link: https://www.econbiz.de/10012552694
The Millennium Development Goals set quantitative targets for poverty reduction and improvements in health, education, gender equality, the environment, and other aspects of human welfare. At existing rates of progress many countries will fall short of these goals. However, if developing...
Persistent link: https://www.econbiz.de/10012559580
The authors revisit the relationship between aid and growth using a new data set focusing on the 1990s. The evidence supports the view that the impact of aid depends on the quality of state institutions and policies. The authors use an overall measure of institutions and policies popular in the...
Persistent link: https://www.econbiz.de/10012559666
This paper analyzes the recent growth of government domestic debt, including central bank debt, using a new data base on government domestic debt in developing countries with large, open financial systems. On average, government domestic debt grew much faster than GDP between 1994 and 2004 and...
Persistent link: https://www.econbiz.de/10012552794
Countries with high debt exposure are vulnerable to economic and financial shocks that could lead to sovereign defaults. This paper develops a methodology to identify countries that are at risk of debt default based on four elements of debt vulnerability. These elements capture the different...
Persistent link: https://www.econbiz.de/10013255220
The 2005 Paris Declaration on Aid Effectiveness sets targets for increased use by donors of recipient country systems for managing aid. The target is premised on a view that country systems are strengthened when donors trust recipients to manage aid funds, but undermined when donors manage aid...
Persistent link: https://www.econbiz.de/10012552124
Fragile and conflict-affected states face daunting challenges for development. Aid has a greater importance on development in these states than in others, and therefore aid effectiveness management and delivery of aid bears serious consideration. Despite its significance, aid effectiveness is...
Persistent link: https://www.econbiz.de/10012552141
Devarajan, Go, Page, Robinson, and Thierfelder argued that if aid is about the future and recipients are able to plan consumption and investment decisions optimally over time, then the potential problem of an aid-induced appreciation of the real exchange rate (Dutch disease) does not occur. In...
Persistent link: https://www.econbiz.de/10012552266