A Debt Overhang Model for Low-Income Countries
IMF Staff Papers Vol. 55, No. 4: A Debt Overhang Model for Low-Income Countries
Author/Editor:
Summary: This paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for aid design and debt relief. It finds that the extent of debt overhang and the effectiveness of debt relief depend on a recipient country’s initial economic conditions and level of total factor productivity.
Full Text
Author/Editor:
Summary: This paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for aid design and debt relief. It finds that the extent of debt overhang and the effectiveness of debt relief depend on a recipient country’s initial economic conditions and level of total factor productivity.
Full Text
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