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This paper investigates the relationship between external indebtedness and economic growth, with a particular attention to LICs, for which the theoretical arguments of debt overhang and liquidity constraint have to be reconsidered. The estimation of a growth model, with a panel of 121 developing...
Persistent link: https://www.econbiz.de/10010295225
reforms. This work underlines the critical role of economic policies and institutions, the necessity of focusing on LICs and …
Persistent link: https://www.econbiz.de/10010296007
on institutions and policies. The Debt-Laffer curve looses statistical significance once institutional quality is … controlled for and debt overhang seems to be at work exclusively in countries with sound institutions. On the contrary, external … debt proves to be irrelevant for countries with weak institutions. A policy implication is that efficient debt relief …
Persistent link: https://www.econbiz.de/10010298614
reforms. This work underlines the critical role of economic policies and institutions, the necessity of focusing on LICs and …
Persistent link: https://www.econbiz.de/10005082704
on institutions and policies. The Debt-Laffer curve looses statistical significance once institutional quality is … controlled for and debt overhang seems to be at work exclusively in countries with sound institutions. On the contrary, external … debt proves to be irrelevant for countries with weak institutions. A policy implication is that efficient debt relief …
Persistent link: https://www.econbiz.de/10005082979
This paper investigates the relationship between external indebtedness and economic growth, with a particular attention to LICs, for which the theoretical arguments of debt overhang and liquidity constraint have to be reconsidered. The estimation of a growth model, with a panel of 121 developing...
Persistent link: https://www.econbiz.de/10005083427
on institutions and policies. The Debt-Laffer curve looses statistical significance once institutional quality is … controlled for and debt overhang seems to be at work exclusively in countries with sound institutions. On the contrary, external … debt proves to be irrelevant for countries with weak institutions. A policy implication is that efficient debt relief …
Persistent link: https://www.econbiz.de/10013132135
This paper investigates the relationship between external indebtedness and economic growth, with a particular attention to LICs, for which the theoretical arguments of debt overhang and liquidity constraint have to be reconsidered. The estimation of a growth model, with a panel of 121 developing...
Persistent link: https://www.econbiz.de/10013132434
HIPC threshold of 150 is estimated to add more than one percentage point to per capita GDP growth, and a debt service …
Persistent link: https://www.econbiz.de/10014062830
This paper investigates whether, and to what extent, the uncertainty with respect to the annual debt service payments may adversely affect economic growth of the group of highly indebted poor countries (HIPCs). We find supportive evidence for this hypothesis. Based on these results, we conclude...
Persistent link: https://www.econbiz.de/10010279163