Does Structural Economic Vulnerability Matter for Public Indebtedness in Developing Countries?
AbstractIn this study, we examine the effect of structural economic vulnerability of developing countries on their public indebtedness. We perform our econometric analysis by relying on 96 developing countries over the period 1980-2008. The results suggest evidence of a "U-shaped" relationship between the structural vulnerability and the total public debt in developing countries. In Low-Income Countries (LICs), the build-up of the total public debt is particularly explained by structural vulnerability. Accordingly, international institutions should take into account such structural vulnerability when designing development policies, especially the ones related to debt sustainability in developing countries and particularly LICs.
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 HAL in its series Working Papers with number halshs-00749469.
Date of creation: 07 Nov 2012
Date of revision:
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00749469
Contact details of provider:
Web page: http://hal.archives-ouvertes.fr/
Structural Vulnerability; Public debt; Fixed Effects;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-11-17 (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.:
- Greenidge, Kevin & Drakes, Lisa & Craigwell, Roland, 2010. "The external public debt in the Caribbean Community," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 418-431, May.
- Patrick Guillaumont, 2010. "Assessing the Economic Vulnerability of Small Island Developing States and the Least Developed Countries," Working Papers id:2625, eSocialSciences.
- Barro, Robert J, 1979.
"On the Determination of the Public Debt,"
Journal of Political Economy,
University of Chicago Press, vol. 87(5), pages 940-71, October.
- Rodrik, Dani, 1999.
" Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses,"
Journal of Economic Growth,
Springer, vol. 4(4), pages 385-412, December.
- Rodrik, Dani, 1998. "Where Did all the Growth Go? External Shocks, Social Conflict and Growth Collapses," CEPR Discussion Papers 1789, C.E.P.R. Discussion Papers.
- Dani Rodrik, 1998. "Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses," NBER Working Papers 6350, National Bureau of Economic Research, Inc.
- Naude, Wim & Santos-Paulino, Amelia U. & McGillivray, Mark, 2009.
"Vulnerability in Developing Countries,"
Working Paper Series
rb02-08, World Institute for Development Economic Research (UNU-WIDER).
- Naude, Wim & Amelia U. Santos-Paulino & Mark McGillivray, 2009. "Vulnerability in Developing Countries," Working Paper Series WIDER Angle September 200, World Institute for Development Economic Research (UNU-WIDER).
- Naude, Wim & Santos-Paulino, Amelia U. & McGillivray, Mark, 2008. "Vulnerability in Developing Countries," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- Rafael E. De Hoyos & Vasilis Sarafidis, 2006. "Testing for cross-sectional dependence in panel-data models," Stata Journal, StataCorp LP, vol. 6(4), pages 482-496, December.
- Benno Ferrarini, 2009. "Policy, vulnerability and the new debt sustainability framework," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(7), pages 895-914.
- Briguglio, Lino, 1995. "Small island developing states and their economic vulnerabilities," World Development, Elsevier, vol. 23(9), pages 1615-1632, September.
- Joël CARIOLLE, 2011. "The Economic Vulnerability Index - 2010 Update," Working Papers I09, FERDI.
- Patrick Guillaumont, 2009. "An Economic Vulnerability Index: Its Design and Use for International Development Policy," Oxford Development Studies, Taylor & Francis Journals, vol. 37(3), pages 193-228.
- Patrick Guillaumont, 2010. "Assessing the Economic Vulnerability of Small Island Developing States and the Least Developed Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 46(5), pages 828-854.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).
If references are entirely missing, you can add them using this form.