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Threshold Effects of Sovereign Debt

Threshold Effects of Sovereign Debt »

Source: Threshold Effects of Sovereign Debt : Evidence From the Caribbean

Volume/Issue: 2012/157

Series: IMF Working Papers

Author(s): Lisa Drakes , Chrystol Thomas , Roland Craigwell , and Kevin Greenidge

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

ISBN: 9781475504507

Keywords: Debt Threshold, Panel Data, Threshold Regressions, external debt, real gdp

This paper addresses the issue of threshold effects between public debt and economic growth in the Caribbean. The main finding is that there exists a threshold debt to gross domestic product (GDP) ratio of 55-56 pe...

Debt and Growth: Is There a Magic Threshold?1

Debt and Growth: Is There a Magic Threshold?1 »

Source: Debt and Growth : Is There a Magic Threshold?

Volume/Issue: 2014/34

Series: IMF Working Papers

Author(s): Andrea Pescatori , Damiano Sandri , and John Simon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2014

ISBN: 9781484306444

Keywords: growth, gdp growth, debt thresholds, debt ratio, growth rate, General,

Using a novel empirical approach and an extensive dataset developed by the Fiscal Affairs Department of the IMF, we find no evidence of any particular debt threshold above which medium-term growth prospects are dra...

A Stochastic Framework for Public Debt Sustainability Analysis

A Stochastic Framework for Public Debt Sustainability Analysis »

Source: A Stochastic Framework for Public Debt Sustainability Analysis

Volume/Issue: 2008/58

Series: IMF Working Papers

Author(s): Gabriel Di Bella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869200

Keywords: Public debt sustainability, risk analysis, debt thresholds, debt ratio, international reserves, public debt, domestic currency, debt sustainability,

This paper proposes a framework for public debt sustainability analysis (DSA) that is complementary to that generally used by IFIs. The DSA in this paper has three components: (i) an integrated and consistent accou...

This Time They Are Different: Heterogeneity and Nonlinearity in the Relationship Between Debt and Growth1

This Time They Are Different: Heterogeneity and Nonlinearity in the Relationship Between Debt and Growth1 »

Source: This Time They Are Different : Heterogeneity and Nonlinearity in the Relationship Between Debt and Growth

Volume/Issue: 2013/248

Series: IMF Working Papers

Author(s): Markus Eberhardt , and Andrea Presbitero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2013

ISBN: 9781484309285

Keywords: growth, common factor model, asymmetric ARDL, debt stock, debt terms, debt threshold, debt term, Models with Panel Data, International Lending and Debt Problems, Macroeconomic Analyses of Economic Development,

We study the long-run relationship between public debt and growth in a large panel of countries. Our analysis takes particular note of theoretical arguments and data considerations in modeling the debt-growth relat...

Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries*

Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries* »

Source: Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries

Volume/Issue: 2014/48

Series: IMF Working Papers

Author(s): Andrew Berg , Enrico Berkes , Catherine Pattillo , Andrea Presbitero , and Yorbol Yakhshilikov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2014

ISBN: 9781475579772

Keywords: DSF, Sovereign debt crises, debt thresholds, external debt, debt crises, International Monetary Arrangements and Institutions, International Lending and Debt Problems, Macroeconomic Analyses of Economic Development,

The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in Low Income Countries (LICs). At the core of the DSF are empirically-based thresholds for each o...

Sovereign CDS Spreads in Europe: The Role of Global Risk Aversion, Economic Fundamentals, Liquidity, and Spillovers

Sovereign CDS Spreads in Europe: The Role of Global Risk Aversion, Economic Fundamentals, Liquidity, and Spillovers »

Source: Sovereign CDS Spreads in Europe : The Role of Global Risk Aversion, Economic Fundamentals, Liquidity, and Spillovers

Volume/Issue: 2014/17

Series: IMF Working Papers

Author(s): Frigyes Heinz , and Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2014

ISBN: 9781484393017

Keywords: CESEE countries, financial spillovers, CDS spreads, debt threshold, current account, public debt, current account balance, Financial Markets and the Macroeconomy, Asset Pricing,

By analysing data from January 2007 to December 2012 in a panel GLS error correction framework we find that European countries' sovereign CDS spreads are largely driven by global investor sentiment, macroeconomic f...

Public Debt and Growth1

Public Debt and Growth1 »

Source: Public Debt and Growth

Volume/Issue: 2010/174

Series: IMF Working Papers

Author(s): Jaejoon Woo , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201853

Keywords: Government debt, growth, growth accounts, crowding out, thresholds, capital per worker, total factor productivity, tfp, real gdp, gdp growth

This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determ...

The Multilateral Debt Relief Initiative (G-8 Proposal) and Its Implications for the Fund - Further Considerations - Supplemental Information

The Multilateral Debt Relief Initiative (G-8 Proposal) and Its Implications for the Fund - Further Considerations - Supplemental Information »

Source: The Multilateral Debt Relief Initiative (G-8 Proposal) and Its Implications for the Fund - Further Considerations - Supplemental Information

Volume/Issue: 2005/012

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2005

ISBN: 9781498330855

Keywords: Debt relief, Group of eight, Heavily indebted poor countries, HIPC Initiative, Public expenditure management, Balance of payments, Debt sustainability, Balance of payments assistance, PRGF, main paper

The Executive Board held an informal seminar on September 21, 2005 to discuss possible implementation modalities for the G-8 debt relief proposal. On September 24, 2005, the International Monetary and Financial Com...

Is There a Debt-threshold Effect on Output Growth?1

Is There a Debt-threshold Effect on Output Growth?1 »

Source: Is There a Debt-threshold Effect on Output Growth?

Volume/Issue: 2015/197

Series: IMF Working Papers

Author(s): Alexander Chudik , Kamiar Mohaddes , M. Pesaran , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2015

ISBN: 9781513513355

Keywords: Panel tests of threshold effects, long-run relationships, estimation and inference, large dynamic heterogeneous panels, cross-section dependence, and inflation, variables, gdp, cd, inflation

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness. Our contribution is both theoretical and e...

A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework

A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework »

Source: A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework

Volume/Issue: 2009/037

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2009

ISBN: 9781498335713

Keywords: Collaboration with World Bank, Debt sustainability, Debt sustainability analysis, External borrowing, External debt, Fund policies, Inward remittances, Low-income developing countries, Outward remittances, Public investment

The Bank-Fund Debt Sustainability Framework (DSF) is a standardized framework for analyzing debt-related vulnerabilities in low-income countries (LICs). It aims to help countries monitor their debt burden and take...