Debt Relief under the HIPC Initiative: Why Some Countries Complete the Programme Faster Than Others
AbstractThe Highly Indebted Poor Countries (HIPC) initiative has been one of the primary avenues for delivering debt relief to developing countries in the past decade. However, the performance of countries in the HIPC programme has been vastly heterogeneous with some countries reaching completion point much faster than others. This paper uses Cox-Proportional hazard models to explain the wide disparity in completion times by examining how the economic, social and governance environments within a country affect the speed of completion. The findings suggest that better economic management, increased trade, more effective government machinery, and a more stable political environment among others are all significant in speeding up completion times.
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Bibliographic InfoPaper provided by Economic Research Southern Africa in its series Working Papers with number 346.
Length: 17 pages
Date of creation: 2013
Date of revision:
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HIPC; Hazard Models; Survival Analysis; Aid; Debt relief; Development;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-27 (All new papers)
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