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dc.contributor.authorPresbitero, Andrea F.en_US
dc.date.accessioned2009-01-28T15:05:05Z-
dc.date.available2009-01-28T15:05:05Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/17940-
dc.description.abstractThis paper investigates the relationship between external indebtedness and economic growth, with a particular attention to LICs, for which the theoretical arguments of debt overhang and liquidity constraint have to be reconsidered. The estimation of a growth model, with a panel of 121 developing countries, supports a negative and linear relationship between past values of the NPV of external public debt and current economic growth. This could be due to the ?extended debt overhang?, according to which a large indebtedness leads to misallocation of capital and discourage long-term investment and structural reforms.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kiel-
dc.relation.ispartofseriesEconomics Discussion Papers / Institut für Weltwirtschaft 2007-17en_US
dc.subject.jelO11en_US
dc.subject.jelF34en_US
dc.subject.jelC33en_US
dc.subject.jelH63en_US
dc.subject.ddc330en_US
dc.subject.keywordExternal Debten_US
dc.subject.keywordHIPCen_US
dc.subject.keywordDebt Reliefen_US
dc.subject.keywordEconomic Growthen_US
dc.titleThe debt-growth nexus in poor countries: a reassessmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn558076769en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:5531-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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