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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/10005082704
The paper investigates the relationship between external debt and economic growth, focusing on the role played by the policy and institutional framework. Results for a panel of 114 developing countries show that the debt-growth nexus depends on institutions and policies. The Debt-Laffer curve...
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
This paper examines how indebted countries have reacted to the recent shift in the global debt relief architecture towards rewarding indebted countries that have ‘superior' institutions with increased debt relief by probing whether there is any empirical evidence to suggest that countries may...
Persistent link: https://www.econbiz.de/10010835982
Set up in 1996, the HIPC Initiative's prime goal was to reduce eligible countries' debt burdens to the thresholds … established under the Initiative. In September 1999, the HIPC Initiative was enhanced in order to provide broader, deeper and … to reach the decision point under the Enhanced HIPC Initiative framework. The possible conditions attached to Nepal …
Persistent link: https://www.econbiz.de/10010755777
This paper investigates the relationship between external debt and economic growth in developing countries. Notwithstanding a general agreement on theory, empirical evidence is not conclusive and lacks of robustness. This contribution aims to shed more light on the relationship between external...
Persistent link: https://www.econbiz.de/10008629877
The Highly Indebted Poor Countries (HIPC) initiative has been one of the primary avenues for delivering debt relief to … developing countries in the past decade. However, the performance of countries in the HIPC programme has been vastly …
Persistent link: https://www.econbiz.de/10010640956
Recent shifts in the global debt relief architecture has meant that countries with superior institutions are often rewarded with increasinf aid and debt relied, an incentive for debtor countries to strategically improve their institutions prior to seeking debt relief. This paper contributes to...
Persistent link: https://www.econbiz.de/10010640960
Persistent link: https://www.econbiz.de/10012437090
In this paper we empirically discuss the question whether or not debt relief in the past fifteen years has been economically rational. Analysing the determinants of debt relief our results suggest that governance quality did not play a role in the decision of creditor countries to forgive debt...
Persistent link: https://www.econbiz.de/10005835233