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Can Debt Relief Boost Growth in Poor Countries?

Author/Editor: Clements, Benedict J. | Bhattacharya, Rina | Nguyen, Toan Quoc
Electronic Access: Free Full Text

Summary: The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.
Series: Economic Issues No. 34
Subject(s): Debt relief | Economic growth | Heavily indebted poor countries
Notes: Also available in Arabic, Chinese, French, Russian and Spanish.
    Published:   April 16, 2007        
    ISBN/ISSN:   978-1-58906-466-9 / 1020-8380   Format:   Paper
    Stock No:   EIIAA034   Pages:   17
    Price:   Free        
    Published:   September 9, 2005        
    ISBN/ISSN:   ISBN 1-58906-467-4 ; ISSN 1020-8399   Format:   Paper
    Stock No:   EIICA34   Pages:   16
    Price:   Free        
    Published:   June 1, 2005        
    ISBN/ISSN:   978-1-58906-354-9 / 1020-5098   Format:   Paper
    Stock No:   EIIEA034   Pages:   20
    Published:   August 30, 2005        
    ISBN/ISSN:   ISBN 1-58906-464-X ; ISSN 1020-7724   Format:   Paper
    Stock No:   EIIFA034   Pages:   18
    Price:   Free        
    Published:   September 21, 2005        
    ISBN/ISSN:   ISBN 1-58906-468-2 ; ISSN 1020-8402   Format:   Paper
    Stock No:   EIIRA034   Pages:   20
    Price:   Free        
    Published:   October 5, 2005        
    ISBN/ISSN:   ISBN 1-58906-465-8 ; ISSN 1020-8372   Format:   Paper
    Stock No:   EIISA034   Pages:   18
    Price:   Free        
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