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The Impact of External Indebtedness on Poverty in Low-Income Countries

Author/Editor: Loko, Boileau | Mlachila, Montfort | Nallari, Raj | Kalonji, Kadima D.
Authorized for Distribution: March 1, 2003
Electronic Access: Free Full Text (PDF file size is 1,069KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper explores the relationship between external debt and poverty. A number of observers have argued that high external indebtedness is a major cause of poverty. Using the first-differenced general method of moments (GMM) estimator, the paper models the impact of external debt on poverty, measured by life expectancy, infant mortality, and gross primary enrollment rates, while duly taking into account the impact of external debt on income. The paper thus endeavors to bring together the literature that links external debt with income growth and poverty. The main conclusion is that once the effect of income on poverty has been taken into account, external indebtedness indicators have a limited but important impact on poverty.
 
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Series: Working Paper No. 03/61
Subject(s): External debt | HIPC Initiative | Poverty | Economic growth
Author's keyword(s): Poverty | Growth | External Debt
 
English  
    Published:   March 1, 2003        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0612003   Pages:   25
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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