Does the HIPC Initiative Achieve its Goal of Debt Sustainability?
AbstractThis paper examines the question if the Heavily Indebted Poor Country (HIPC) Initiative provides a good basis for the HIPCs to exit from repeated debt rescheduling. Building on other reviews of the HIPC Initiative, the paper begins with a short summary of some key problems of the HIPC Initiative. It then reviews critically the growth assumptions of HIPC debt sustainability analyses, whereby the paper examines the changes in (i) public and private capital flows before and after the adoption of the HIPC Initiative, (ii) investment and savings rates, and (iii) sectoral transformations. The last analytical part explores the appropriateness of the HIPC debt sustainability indicators. Before summarizing the main results, the paper makes some suggestions on possible modifications in the HIPC framework that are more likely to provide debt sustainability than the current framework. [Discussion Paper No.2001/100]
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by eSocialSciences in its series Working Papers with number id:3205.
Date of creation: Nov 2010
Date of revision:
Note: Institutional Papers
Contact details of provider:
Web page: http://www.esocialsciences.org
debt sustainability; structural change; growth;
Other versions of this item:
- Gunter, Bernhard G., 2001. "Does the HIPC Initiative Achieve its Goal of Debt Sustainability?," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- NEP-ALL-2010-12-04 (All new papers)
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.:
- Hatton, Timothy J. & Williamson, Jeffrey G., 2001.
"Demographic and Economic Pressure on Emigration out of Africa,"
IZA Discussion Papers
250, Institute for the Study of Labor (IZA).
- Timothy J. Hatton & Jeffrey G. Williamson, 2003. "Demographic and Economic Pressure on Emigration out of Africa," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(3), pages 465-486, 09.
- Timothy J. Hatton & Jeffrey G. Williamson, 2001. "Demographic and Economic Pressure on Emigration Out of Africa," NBER Working Papers 8124, National Bureau of Economic Research, Inc.
- Paul R. Krugman, 1989.
"Financing vs. Forgiving a Debt Overhang,"
NBER Working Papers
2486, National Bureau of Economic Research, Inc.
- Lopez, Ramon E & Thomas, Vinod, 1990. "Import Dependency and Structural Adjustment in Sub-Saharan Africa," World Bank Economic Review, World Bank Group, vol. 4(2), pages 195-207, May.
- Abdelhak Senhadji, 2000. "Sources of Economic Growth: An Extensive Growth Accounting Exercise," IMF Staff Papers, Palgrave Macmillan, vol. 47(1), pages 6.
- Berthelemy, Jean-claude & Soderling, Ludvig, 2001. "The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off: Empirical Evidence from African Growth Episodes," World Development, Elsevier, vol. 29(2), pages 323-343, February.
- Cohen, Daniel, 1996. "The sustainability of African debt," Policy Research Working Paper Series 1621, The World Bank.
- Rama, Martin, 1990. "Empirical investment equations in developing countries," Policy Research Working Paper Series 563, The World Bank.
- Oshikoya, Temitope W, 1994. "Macroeconomic Determinants of Domestic Private Investment in Africa: An Empirical Analysis," Economic Development and Cultural Change, University of Chicago Press, vol. 42(3), pages 573-96, April.
- Peter Hjertholm, 1999. "Analytical History of Heavily Indebted Poor Country (HIPC) Debt Sustainability Targets," Discussion Papers 00-03, University of Copenhagen. Department of Economics.
- Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
- Bernhard G. Gunter & A. F. M. Ataur Rahman, 2008. "Analyzing Bangladesh’s Debt Sustainability Using SimSIP Debt," Bangladesh Development Research Working Paper Series (BDRWPS) BDRWPS No. 2, Bangladesh Development Research Center (BDRC).
- Gunter, Bernhard & Wodon, Quentin, 2008. "Analyzing Debt Sustainability: Concepts and Tools Applied for Guinea, Rwanda,and Senegal," MPRA Paper 10648, University Library of Munich, Germany.
- Olav Bjerkholt, 2004. "New approaches to debt relief and debt sustainability in LDCs," CDP Background Papers 005, United Nations, Department of Economics and Social Affairs.
- Sanford, Jonathan E., 2004. "IDA Grants and HIPC Debt Cancellation: Their Effectiveness and Impact on IDA Resources," World Development, Elsevier, vol. 32(9), pages 1579-1607, September.
- Gunter, Bernhard & Wodon, Quentin, 2008. "Analyzing Debt Sustainability: An Application of SimSIP Debt for Paraguay," MPRA Paper 11076, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Padma Prakash).
If references are entirely missing, you can add them using this form.