Working Papers in full text
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
External Debt, Public Investment, and Growth in Low-Income Countries
|
Author/Editor: |
Clements, Benedict J. | Bhattacharya, Rina | Nguyen, Toan Quoc |
| Authorized for Distribution: |
December 1, 2003 |
|
Electronic Access: |
Free Full Text (PDF file size is 294KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
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 examines the channels through which external debt affects growth in low-income countries. Our results suggest that the substantial reduction in the stock of external debt projected for highly indebted poor countries (HIPCs) would directly increase per capita income growth by about 1 percentage point per annum. Reductions in external debt service could also provide an indirect boost to growth through their effects on public investment. If half of all debt-service relief were channeled for such purposes without increasing the budget deficit, then growth could accelerate in some HIPCs by an additional 0.5 percentage point per annum.
|
|
|
|
Series: |
Working Paper No. 03/249 |
|
Subject(s): |
External debt | Public investment | Economic growth | Low income developing countries |
|
Author's keyword(s): |
External Debt | Debt Service | Growth | Public Investment |
|
|
|
|
| |
Published: |
|
December 1, 2003 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA2492003 |
|
Pages: |
|
24 |
| |
Price: |
|
US$15.00
|
|
|
|
|
|
|
