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Robbing the Riches

Robbing the Riches »

Source: Robbing the Riches : Capital Flight, Institutions, and Instability

Volume/Issue: 2005/199

Series: IMF Working Papers

Author(s): Sweta Saxena , Meenakshi Rishi , and Valerie Cerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451862188

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...

The Investment-Financing-Growth Nexus:  The Case of Liberia

The Investment-Financing-Growth Nexus: The Case of Liberia »

Source: The Investment-Financing-Growth Nexus : The Case of Liberia

Volume/Issue: 2013/237

Series: IMF Working Papers

Author(s): John Clark JR , and Manuel Rosales Torres

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 November 2013

ISBN: 9781475534931

Keywords: Growth, Infrastructure, budget constraint, investment program, budget support, capital investment, International Lending and Debt Problems, Institutions and Growth, Infrastructures,

Liberia is facing large infrastructure gaps and developmental needs that constrain the country’s growth potential. The government has set an ambitious agenda to transform the economy and to reach middle-inco...

The Dynamic Implications of Debt Relief for Low-Income Countries

The Dynamic Implications of Debt Relief for Low-Income Countries »

Source: The Dynamic Implications of Debt Relief for Low-Income Countries

Volume/Issue: 2011/157

Series: IMF Working Papers

Author(s): Ales Bulir , Alma Romero-Barrutieta , and Jose Daniel Rodríguez-Delgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781455293711

Keywords: general equilibrium model, small open economy, debt, debt-relief, interest, relief mechanism, International Lending and Debt Problems, Open Economy Macroeconomics,

The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with...

How Important Is Sovereign Risk in Determining Corporate Default Premia? The Case of South Africa

How Important Is Sovereign Risk in Determining Corporate Default Premia? The Case of South Africa »

Source: How Important Is Sovereign Risk in Determining Corporate Default Premia? The Case of South Africa

Volume/Issue: 2005/217

Series: IMF Working Papers

Author(s): Marcel Peter , and Martín Grandes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862362

Keywords: corporate risk, sovereign ceiling, default premium, bond, bonds, equation, probability, corporate bond, International Lending and Debt Problems,

The paper analyzes and quantifies the importance of sovereign risk in determining corporate default premia (yield spreads). It also investigates the extent to which the practice by rating agencies and banks of not...

External Debt, Public Investment, and Growth in Low-Income Countries

External Debt, Public Investment, and Growth in Low-Income Countries »

Source: External Debt, Public Investment, and Growth in Low-Income Countries

Volume/Issue: 2003/249

Series: IMF Working Papers

Author(s): Toan Nguyen , Benedict Clements , and Rina Bhattacharya

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

ISBN: 9781451875904

Keywords: Growth, debt relief, debt overhang, debt service payments, International Lending and Debt Problems, Economic Growth and Aggregate Productivity: General,

This paper examines the channels through which external debt affects growth in low-income countries. Our results suggest that the substantial reduction in the stock of external debt projected for highly indebted po...

Macroeconomic Challenges of Structural Transformation

Macroeconomic Challenges of Structural Transformation »

Source: Macroeconomic Challenges of Structural Transformation : Public Investment, Growth and Debt Sustainability in Sierra Leone

Volume/Issue: 2015/164

Series: IMF Working Papers

Author(s): Lacina Balma , and Mthuli Ncube

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2015

ISBN: 9781513599038

Keywords: Structural Transformation, Growth, Debt Sustainability, investment, debt, external commercial borrowing, International Lending and Debt Problems, Institutions and Growth, Debt Sustainability.,

This paper analyzes the link between public investment, economic growth and debt sustainability in Sierra Leone using an inter-temporal macroeconomic model. In the model, public capital improves the productive capa...

Does Sdds Subscription Reduce Borrowing Costs for Emerging Market Economies

Does Sdds Subscription Reduce Borrowing Costs for Emerging Market Economies »

Source: Does Sdds Subscription Reduce Borrowing Costs for Emerging Market Economies

Volume/Issue: 2004/58

Series: IMF Working Papers

Author(s): John Cady

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451847895

Keywords: Sovereign debt and yield spreads, data transparency, SDDS, bond, capital markets, international capital, bonds, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

Does macroeconomic data transparency-as signaled by subscription to the IMF's Special Data Dissemination Standard (SDDS)-help reduce borrowing costs in private capital markets? This question is examined using detai...

Efficient Energy Investment and Fiscal Adjustment in Senegal

Efficient Energy Investment and Fiscal Adjustment in Senegal »

Source: Efficient Energy Investment and Fiscal Adjustment in Senegal

Volume/Issue: 2014/44

Series: IMF Working Papers

Author(s): Salifou Issoufou , Edward Buffie , Mouhamadou Bamba Diop , and Kalidou Thiaw

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2014

ISBN: 9781475527728

Keywords: Energy Reform, Growth, Infrastructure, fiscal deficit, fiscal adjustment, budget constraint, International Lending and Debt Problems, Institutions and Growth, Infrastructures, Infrastructure.,

Senegal's fiscal deficit and public debt have been on the rise in recent years owing partly to an ailing and inefficient oil-based energy sector. In this paper we use a two-sector, open-economy, dynamic general equ...

Investment Scaling-up and the Role of Government

Investment Scaling-up and the Role of Government »

Source: Investment Scaling-up and the Role of Government : the Case of Benin

Volume/Issue: 2015/69

Series: IMF Working Papers

Author(s): Matteo Ghilardi , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2015

ISBN: 9781484304549

Keywords: Government Inefficiencies, Fiscal Policy, tax, investments, investment, debt, public investments, International Lending and Debt Problems, Infrastructures, Institutions and Growth

This paper studies the fiscal implications for the Beninese economy of scaling up of public investment when the government is subject to inefficiencies on the spending and on the tax collection side. While scalin...

Debt Relief Under the HIPC Initiative

Debt Relief Under the HIPC Initiative »

Source: Debt Relief Under the HIPC Initiative : Context and Outlook for Debt Sustainability and Resource Flow

Volume/Issue: 2001/144

Series: IMF Working Papers

Author(s): Doris Ross , and Lisandro Abrego

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451856446

Keywords: external debt sustainability, debt, debt service, debt reduction, external debt, International Lending and Debt Problems, Macroeconomic Analyses of Economic Development,

This paper discusses the Heavily Indebted Poor Countries (HIPC) Initiative in the perspective of sizable historical debt relief and large positive net resource flows to HIPCs. It argues that, by substantially reduc...