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Access to Market Financing for IDA-eligible Countries-the Role of External Debt and IMF-Supported Programs

Access to Market Financing for IDA-eligible Countries-the Role of External Debt and IMF-Supported Programs »

Source: Access to Market Financing for IDA-eligible Countries-the Role of External Debt and IMF-Supported Programs

Volume/Issue: 2009/217

Series: IMF Working Papers

Author(s): Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873641

Keywords: decision point, enhanced HIPC Initiative, IMF-supported program, debt ratio, debt service, debt ratios, concessional debt,

Exclusion restrictions used to identify demand and supply relationships for market financing among IDA recipients (past and present) show that poor credit ratings and high political instability adversely impact the...

An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa »

Source: An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

Volume/Issue: 1997/68

Series: IMF Working Papers

Author(s): Simeon Ajayi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1997

ISBN: 9781451961119

Keywords: external debt, debt, debt overhang, debt service, debt burden

The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estima...

Big Government, High Debt, and Fiscal Adjustment in Small States

Big Government, High Debt, and Fiscal Adjustment in Small States »

Source: Big Government, High Debt, and Fiscal Adjustment in Small States

Volume/Issue: 2008/39

Series: IMF Working Papers

Author(s): Rui Ota , and Stephanie Medina Cas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869019

Keywords: Government size, fiscal adjustment, external debt, external public debt,

Using a new fiscal dataset for small states, this paper analyzes the link between country size, government size, debt, and economic performance. It finds that on average small states have larger governments and hig...

The Choice Between External and Domestic Debt in Financing Budget Deficits

The Choice Between External and Domestic Debt in Financing Budget Deficits »

Source: The Choice Between External and Domestic Debt in Financing Budget Deficits : The Case of Central and West African Countries

Volume/Issue: 2002/79

Series: IMF Working Papers

Author(s): Philippe Beaugrand , Montfort Mlachila , and Boileau Loko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

ISBN: 9781451850215

Keywords: budget deficit financing, public debt, debt management, central bank, National Budget, Deficit, And Debt, macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook,

The paper reviews the principles and practical considerations involved in the choice between foreign and domestic financing of fiscal deficits, and derives a series of recommendations broadly applicable to Central...

The Cross-Country Incidence of the Global Crisis1

The Cross-Country Incidence of the Global Crisis1 »

Source: The Cross-Country Incidence of the Global Crisis

Volume/Issue: 2010/171

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201822

Keywords: private credit, international financial integration, output growth, current account balance, short-term debt,

We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of develo...

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link »

Source: Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Volume/Issue: 2005/223

Series: IMF Working Papers

Author(s): Tito Cordella , Luca Ricci , and Marta Ruiz-Arranz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862423

Keywords: Growth, Debt Overhang, Debt Irrelevance, HIPCs, external debt, public debt, International Lending and Debt Problems, Economic Growth and Aggregate Productivity: General,

Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies wit...

Debt Relief for Low-Income Countries and the HIPC Initiative

Debt Relief for Low-Income Countries and the HIPC Initiative »

Source: Debt Relief for Low-Income Countries and the HIPC Initiative

Volume/Issue: 1997/24

Series: IMF Working Papers

Author(s): Kamau Thugge , and Anthony Boote

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1997

ISBN: 9781451844108

Keywords: External Debt, Heavily Indebted Poor Countries Initiative, stock-of-debt operation, debt reduction, debt relief, present value

The paper describes the debt burden of low-income countries and the traditional mechanisms that have been implemented by the international community to alleviate this burden. While these mechanisms are sufficient t...

Determinants of Tax Revenue Efforts in Developing Countries

Determinants of Tax Revenue Efforts in Developing Countries »

Source: Determinants of Tax Revenue Efforts in Developing Countries

Volume/Issue: 2007/184

Series: IMF Working Papers

Author(s): Abhijit Sen Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867480

Keywords: Revenue performance, panel data, tax revenue, government revenue, export share, foreign debt, tax ratio,

This paper contributes to the existing empirical literature on the principal determinants of tax revenue performance across developing countries by using a broad dataset and accounting for some econometric issues t...

Four Decades of Fund Arrangements

Four Decades of Fund Arrangements »

Source: Four Decades of Fund Arrangements : Macroeconomic Stylized Facts Before the Adjustment Programs

Volume/Issue: 1995/74

Series: IMF Working Papers

Author(s): Julio Santaella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1995

ISBN: 9781451849530

Keywords: balance of payments, external debt, export markets, current account, debt crisis

This paper analyzes the initial conditions before Fund financial arrangements are adopted. Evidence from 324 Fund arrangements in 78 developing countries during 1973-91 indicates that there are important difference...

Growth Empirics Under Model Uncertainty

Growth Empirics Under Model Uncertainty »

Source: Growth Empirics Under Model Uncertainty : Is Africa Different?

Volume/Issue: 2005/18

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

ISBN: 9781451860375

Keywords: growth regressions, Bayesian model averaging, dynamic panel estimation, debt, probability, samples, debt service, external debt, Bayesian Analysis, Multiple or Simultaneous Equation Models: Models with Panel Data

This paper attempts to identify robust patterns of cross-country growth behavior in the world as a whole and Africa. It employs a novel methodology that incorporates a dynamic panel estimator, and Bayesian Model Av...