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The Political Economy of the Enhanced HIPC-Initiative

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Author Info
Michaelowa, Katharina

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Abstract

Only three years after its endorsement by the World Bank and the IMF, the Heavily Indebted Poor Country (HIPC)--Initiative was considerably altered and enhanced. This policy shift can be explained as a result of utility maximization behavior by national and international politicians, international bureaucrats and NGO. A politico-economic model suggests that the overall rise of HIPC default risk and the symbolic value of the year 2000 have been the two major determinants of changes in volume, eligibility, and conditionality requirements. Copyright 2003 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Public Choice.

Volume (Year): 114 (2003)
Issue (Month): 3-4 (March)
Pages: 461-76
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Handle: RePEc:kap:pubcho:v:114:y:2003:i:3-4:p:461-76

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  1. Carsten Hefeker & Katharina Michaelowa, 2005. "Can process conditionality enhance aid effectiveness?," Public Choice, Springer, vol. 122(1), pages 159-175, January. [Downloadable!] (restricted)
  2. Hefeker, Carsten & Michaelowa, Katharina, 2003. "Can Process Conditionality Enhance Aid Effectiveness? The Role of Bureaucratic Interest and Public Pressure," Discussion Paper Series 26389, Hamburg Institute of International Economics. [Downloadable!]
  3. Peter Hjertholm, 2004. "Explaining the Enhanced HIPC Initiative: A Response to Michaelowa (2003)," Public Choice, Springer, vol. 121(3), pages 481-483, February. [Downloadable!] (restricted)
  4. Axel Dreher, 2009. "IMF conditionality: theory and evidence," Public Choice, Springer, vol. 141(1), pages 233-267, October. [Downloadable!] (restricted)
    Other versions:
  5. Presbitero, Andrea F., 2008. "Debt Relief Effectiveness and Institution Building," MPRA Paper 12597, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  6. Anwar, Mumtaz, 2006. "The Political Economy Of International Financial Institutions’ Lending To Pakistan," MPRA Paper 5601, University Library of Munich, Germany, revised 01 Dec 2006. [Downloadable!]
Statistics
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This page was last updated on 2009-12-22.


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