Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/52924 
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dc.contributor.authorBurnside, Craigen
dc.contributor.authorFanizza, Domenicoen
dc.date.accessioned2011-12-14T09:43:57Z-
dc.date.available2011-12-14T09:43:57Z-
dc.date.issued2001-
dc.identifier.isbn9291900214en
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
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Discussion Paper |x2001/99en
dc.subject.jelE31en
dc.subject.jelH63en
dc.subject.jelO11en
dc.subject.jelO23en
dc.subject.ddc330en
dc.subject.keyworddebt reliefen
dc.subject.keywordHIPCsen
dc.subject.keywordconditionalityen
dc.subject.keywordgovernment budget constrainten
dc.subject.stwSchuldenerlassen
dc.subject.stwFinanzpolitiken
dc.subject.stwGeldpolitiken
dc.subject.stwHaushaltskonsolidierungen
dc.subject.stwEntwicklungsländeren
dc.titleHiccups for HIPCs?-
dc.typeWorking Paperen
dc.identifier.ppn335129919en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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