Series: IMF Working Papers
Author(s): Sweta Saxena , Meenakshi Rishi , and Valerie Cerra
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2005
Keywords: Institutions, external debt, debt accumulation, external borrowing, short-term debt, International Factor Movements and International Business: General, International Lending and Debt Problems,
Capital flight may undermine economic growth and the effectiveness of debt relief and foreign aid. This paper is the first attempt to test whether unsound macroeconomic policies or weak institutions lead to capital...