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Donor Herding and Domestic Debt Crisis

Donor Herding and Domestic Debt Crisis »

Source: Donor Herding and Domestic Debt Crisis

Volume/Issue: 2006/109

Series: IMF Working Papers

Author(s): Ephraim Chirwa , Montfort Mlachila , and Yohane Anthony Khamfula

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

ISBN: 9781451863697

Keywords: Donor herding behavior, domestic debt crisis, loan-pushing model, domestic-debt repayment gap, fiscal expenditure, debt crisis, domestic debt, domestic financial market, domestic debt data, Fiscal Expediture

This paper presents a new model based on the loan-pushing model by Basu (1991) to show how a domestic debt crisis can occur in a low-income country following donor herding. The model focuses on the rational herding...

Donor Herding and Domestic Debt Crisis

Donor Herding and Domestic Debt Crisis »

Volume/Issue: 2006/109

Series: IMF Working Papers

Author(s): Ephraim Chirwa , Montfort Mlachila , and Yohane Anthony Khamfula

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

DOI: http://dx.doi.org/10.5089/9781451863697.001

ISBN: 9781451863697

Keywords: Donor herding behavior, domestic debt crisis, loan-pushing model, domestic-debt repayment gap, fiscal expenditure, debt crisis, domestic debt, domestic financial market, domestic debt data, Fiscal Expediture

This paper presents a new model based on the loan-pushing model by Basu (1991) to show how a domestic debt crisis can occur in a low-income country following donor herding. The model focuses on the rational herding...

The Puzzle of Persistently Negative Interest Rate-Growth Differentials
			: Financial Repression or Income Catch-Up?

The Puzzle of Persistently Negative Interest Rate-Growth Differentials : Financial Repression or Income Catch-Up? »

Volume/Issue: 2011/260

Series: IMF Working Papers

Author(s): Anna Shabunina , Julio Escolano , and Jaejoon Woo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463924553.001

ISBN: 9781463924553

Keywords: interest rate-growth differential, debt dynamics, dynamic efficiency, income catch-up, financial repression, inflation, government debt, real interest rate, private credit, Money And Interest Rates

The interest rate-growth differential (IRGD) shows a marked correlation with GDP per capita. It has been on average around 1 percentage point for large advanced economies during 1999-2008; but below -7 percentage p...

The Puzzle of Persistently Negative Interest Rate-Growth Differentials

The Puzzle of Persistently Negative Interest Rate-Growth Differentials »

Source: The Puzzle of Persistently Negative Interest Rate-Growth Differentials : Financial Repression or Income Catch-Up?

Volume/Issue: 2011/260

Series: IMF Working Papers

Author(s): Anna Shabunina , Julio Escolano , and Jaejoon Woo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463924553

Keywords: interest rate-growth differential, debt dynamics, dynamic efficiency, income catch-up, financial repression, inflation, government debt, real interest rate, private credit, Money And Interest Rates

The interest rate-growth differential (IRGD) shows a marked correlation with GDP per capita. It has been on average around 1 percentage point for large advanced economies during 1999-2008; but below -7 percentage p...