5 External Debt, Public Investment, and Growth in Low-Income Countries
Author:
Benedict J. Clements
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Language:
English
Print Publication Date:
17 Sep 2004
Keywords:
BOOK; country; user payment; per capita income; francophone country; recipient country; exchange rate; hazard function; Health care spending; Africa; Western Hemisphere; Sub-Saharan Africa; Global; Asia and Pacific; affect growth; debt-service obligation; debt service threshold dummy; crowding-out effect; Laffer curve; Debt service; Public investment spending; Private investment; Debt burden

Abstract

The relationship between external debt and growth continues to attract considerable interest from policymakers and academics alike. A large number of heavily indebted poor countries (HIPCs) are now receiving debt relief under the HIPC and enhanced HIPC Initiatives. This, in turn, has revived the debate over the impact of a high external debt burden on economic growth. Indeed, one of the principal motivations for debt-relief initiatives stems from the presumed deleterious impact of a heavy debt burden on per capita income growth.

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Cover Helping Countries Develop
Helping Countries Develop
The Role of Fiscal Policy
ISBN:
9781589063181
Publication Date:
17 Sep 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063181.071
Pages:
540
Front Matter
1 Fiscal Policy for Economic Development: An Overview
I Macroeconomic Policy in Developing Countries
II Public Spending and the Millennium Development Goals
III Revenues and Growth
IV. Fiscal Policy and Aid
V. Special Topics

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