Debt relief and adjustment effort in a multi-period model
AbstractThis paper shows that if the period following the granting of debt relief is taken into account, debt relief increases adjustment effort(investment), irrespective of whether there is an initial debt overhang or not.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 91 (2006)
Issue (Month): 1 (April)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Tengstam, Sven, 2005. "Debt Relief and Adjustment Effort in a Multi Period Model," Working Papers in Economics 176, University of Gothenburg, Department of Economics.
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Elhanan Helpman, 1988.
"Voluntary Debt Reduction: Incentives and Welfare,"
NBER Working Papers
2692, National Bureau of Economic Research, Inc.
- Philippe Callier, 1989. "Debt Relief and Adjustment Incentives in a Financially Open Economy: Comment on Corden," IMF Staff Papers, Palgrave Macmillan, vol. 36(2), pages 514-522, June.
- Cohen, Daniel, 1993. "Low Investment and Large LDC Debt in the 1980's," American Economic Review, American Economic Association, vol. 83(3), pages 437-49, June.
- Serkan Arslanalp & Peter Blair Henry, 2004.
"Helping the Poor to Help Themselves: Debt Relief or Aid,"
NBER Working Papers
10230, National Bureau of Economic Research, Inc.
- Henry, Peter B. & Arslanalp, Serkan, 2003. "Helping the Poor to Help Themselves: Debt Relief or Aid?," Research Papers 1838, Stanford University, Graduate School of Business.
- Freytag, Andreas & Pehnelt, Gernot, 2009. "Debt Relief and Governance Quality in Developing Countries," World Development, Elsevier, vol. 37(1), pages 62-80, January.
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