This paper assesses the non linear impact of external debt on growth using panel data for 93 developing countries. The … estimates support a non-linear, hump-shaped, relationship between debt and growth, especially when the debt burden is measured … relative to GDP. For a country with average indebtedness, doubling the debt ratio reduces growth by a third to a half …

growing very rapidly in some Asian economies, its contribution to overall credit growth has been modest outside the more …

findings is that politics do matter, and international banks tend to have political preferences; annual growth in bank flows …

terms, NPV), in most cases below debtdistress level for even the lowest governance groups. Evidence on links between growth … debt relief, but they do this even more through stimulating exports and growth. This holds in particular for those …