Does Lower Debt Buy Higher Growth?: The Impact of Debt Relief Initiatives on Growth
In 1996, the IMF and the World Bank introduced the Heavily Indebted Poor Countries Initiative�a comprehensive debt relief program aimed at reducing the external debt burden of eligible countries to sustainable levels, provided they carry out strong programs of macroeconomic adjustment and structural...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
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| Schriftenreihe: | IMF Working Papers: Working Paper No. 14 / 230
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| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | In 1996, the IMF and the World Bank introduced the Heavily Indebted Poor Countries Initiative�a comprehensive debt relief program aimed at reducing the external debt burden of eligible countries to sustainable levels, provided they carry out strong programs of macroeconomic adjustment and structural reforms designed to promote growth and reduce poverty. Now that the HIPC Initiative is nearly completed, this paper investigates whether the initiative managed to spur growth, either directly or indirectly through investment. In contrast to earlier studies, we conclude that there is some evidence of positive effects of the HIPC Initiative on growth. Such evidence suggests that the HIPC Initiative and MDRI have helped HIPC-eligible countries to reach higher growth, but it remains unclear whether this is through higher investment or another channel. Also, the analysis illustrates that it is hard to disentangle pure debt-relief effects from other concurrent factors |
| Beschreibung: | 1 Online-Ressource (41 p) |
| ISBN: | 1498369677 9781498369671 |
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| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:46Z |
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| spelling | Marcelino, Sandra Verfasser aut Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth Marcelino, Sandra Washington, D.C International Monetary Fund 2014 1 Online-Ressource (41 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 14 / 230 In 1996, the IMF and the World Bank introduced the Heavily Indebted Poor Countries Initiative�a comprehensive debt relief program aimed at reducing the external debt burden of eligible countries to sustainable levels, provided they carry out strong programs of macroeconomic adjustment and structural reforms designed to promote growth and reduce poverty. Now that the HIPC Initiative is nearly completed, this paper investigates whether the initiative managed to spur growth, either directly or indirectly through investment. In contrast to earlier studies, we conclude that there is some evidence of positive effects of the HIPC Initiative on growth. Such evidence suggests that the HIPC Initiative and MDRI have helped HIPC-eligible countries to reach higher growth, but it remains unclear whether this is through higher investment or another channel. Also, the analysis illustrates that it is hard to disentangle pure debt-relief effects from other concurrent factors Online-Ausg Hakobyan, Ivetta Sonstige oth http://elibrary.imf.org/view/IMF001/22206-9781498369671/22206-9781498369671/22206-9781498369671.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Marcelino, Sandra Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth |
| title | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth |
| title_auth | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth |
| title_exact_search | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth |
| title_exact_search_txtP | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth |
| title_full | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth Marcelino, Sandra |
| title_fullStr | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth Marcelino, Sandra |
| title_full_unstemmed | Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth Marcelino, Sandra |
| title_short | Does Lower Debt Buy Higher Growth? |
| title_sort | does lower debt buy higher growth the impact of debt relief initiatives on growth |
| title_sub | The Impact of Debt Relief Initiatives on Growth |
| url | http://elibrary.imf.org/view/IMF001/22206-9781498369671/22206-9781498369671/22206-9781498369671.xml |
| work_keys_str_mv | AT marcelinosandra doeslowerdebtbuyhighergrowththeimpactofdebtreliefinitiativesongrowth AT hakobyanivetta doeslowerdebtbuyhighergrowththeimpactofdebtreliefinitiativesongrowth |