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dc.contributor.authorBurnside, Craigen_US
dc.contributor.authorFanizza, Domenicoen_US
dc.date.accessioned2011-12-14T09:43:57Z-
dc.date.available2011-12-14T09:43:57Z-
dc.date.issued2001en_US
dc.identifier.isbn9291900214en_US
dc.identifier.urihttp://hdl.handle.net/10419/52924-
dc.description.abstractIn this paper we discuss monetary and fiscal policy issues facing heavily-indebted poor countries (HIPCs) who receive debt reduction via the enhanced HIPC initiative. This debt relief program is distinguished from previous ones by its conditionality: freed resources must be used for poverty reduction. We argue that (i) this conditionality limits the extent to which the initiative relaxes the government’s lifetime budget constraint; (ii) depending on the response of monetary policy to an increase in social spending there could be a short-term increase in inflation in HIPC countries, and (iii) the keys to longrun fiscal sustainability in the HIPCs are significant fiscal reforms by their governments, and the effectiveness of their poverty reduction programs in raising Growth.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesWIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/99en_US
dc.subject.jelE31en_US
dc.subject.jelH63en_US
dc.subject.jelO11en_US
dc.subject.jelO23en_US
dc.subject.ddc330en_US
dc.subject.keyworddebt reliefen_US
dc.subject.keywordHIPCsen_US
dc.subject.keywordconditionalityen_US
dc.subject.keywordgovernment budget constrainten_US
dc.subject.stwSchuldenerlassen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwHaushaltskonsolidierungen_US
dc.subject.stwEntwicklungsländeren_US
dc.titleHiccups for HIPCs?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn335129919en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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