Debt Overhang or Debt Irrelevance?: Revisiting the Debt Growth Link
Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and other country characteristics in a panel of developing count...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 05/223 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and other country characteristics in a panel of developing countries. Our findings suggest that there is a negative marginal relationship between debt and growth at intermediate levels of debt, but not at very low debt levels, below the "debt overhang" threshold, or at very high levels, above the "debt irrelevance" threshold. Countries with good policies and institutions face overhang when debt rises above 15-30 percent of GDP, but the marginal effect of debt on growth becomes irrelevant above 70-80 percent. In countries with bad policies and institutions, overhang and irrelevance thresholds seem to be lower, but we cannot rule out the possibility that debt does not matter at all |
| Beschreibung: | 1 Online-Ressource (55 p) |
| ISBN: | 1451862423 9781451862423 |
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| index_date | 2024-07-03T20:13:23Z |
| indexdate | 2024-07-10T09:35:31Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Cordella, Tito Verfasser aut Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link Cordella, Tito Washington, D.C International Monetary Fund 2005 1 Online-Ressource (55 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/223 Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and other country characteristics in a panel of developing countries. Our findings suggest that there is a negative marginal relationship between debt and growth at intermediate levels of debt, but not at very low debt levels, below the "debt overhang" threshold, or at very high levels, above the "debt irrelevance" threshold. Countries with good policies and institutions face overhang when debt rises above 15-30 percent of GDP, but the marginal effect of debt on growth becomes irrelevant above 70-80 percent. In countries with bad policies and institutions, overhang and irrelevance thresholds seem to be lower, but we cannot rule out the possibility that debt does not matter at all Online-Ausg Ricci, Luca Antonio Sonstige oth Ruiz-Arranz, Marta Sonstige oth http://elibrary.imf.org/view/IMF001/01568-9781451862423/01568-9781451862423/01568-9781451862423.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Cordella, Tito Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link |
| title | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link |
| title_auth | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link |
| title_exact_search | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link |
| title_exact_search_txtP | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link |
| title_full | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link Cordella, Tito |
| title_fullStr | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link Cordella, Tito |
| title_full_unstemmed | Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link Cordella, Tito |
| title_short | Debt Overhang or Debt Irrelevance? |
| title_sort | debt overhang or debt irrelevance revisiting the debt growth link |
| title_sub | Revisiting the Debt Growth Link |
| url | http://elibrary.imf.org/view/IMF001/01568-9781451862423/01568-9781451862423/01568-9781451862423.xml |
| work_keys_str_mv | AT cordellatito debtoverhangordebtirrelevancerevisitingthedebtgrowthlink AT riccilucaantonio debtoverhangordebtirrelevancerevisitingthedebtgrowthlink AT ruizarranzmarta debtoverhangordebtirrelevancerevisitingthedebtgrowthlink |