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Analysis of Probability of External Debt Rescheduling in Sub-Saharan Africa

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  • Odedokun, M O

Abstract

This study is an empirical attempt to identify the factors that affect the incidence of external debt reschedulings in sub-Saharan Africa. It is based on annual data over the 1980-90 period for thirty-nine countries and the effects of various factors that might influence the decision to reschedule are tested for using logit and probit analyses statistical methods. Those factors whose effects are detected include external debt level and service payments; fraction of debts attracting variable interest rates; external reserves position; foreign capital inflows; external trade situation; terms of trade; position with IMF; and domestic economic indicators. Copyright 1995 by Scottish Economic Society.

Suggested Citation

  • Odedokun, M O, 1995. "Analysis of Probability of External Debt Rescheduling in Sub-Saharan Africa," Scottish Journal of Political Economy, Scottish Economic Society, vol. 42(1), pages 82-98, February.
    • Handle: RePEc:bla:scotjp:v:42:y:1995:i:1:p:82-98
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    Cited by:

    1. Nicas Yabu & Deogratius Kimolo, 2020. "Exchange Rate Volatility and Its Implications on Macroeconomic Variables in East African Countries," Applied Economics and Finance, Redfame publishing, vol. 7(3), pages 145-171, May.
    2. Sara Bertin & Steve Ohana & Vanessa Strauss-Kahn, 2016. "Revisiting the Link Between Political and Financial Crises in Africa," Journal of African Economies, Centre for the Study of African Economies, vol. 25(3), pages 323-366.
    3. Easton, Stephen T. & Rockerbie, Duane W., 1999. "What's in a default? Lending to LDCs in the face of default risk," Journal of Development Economics, Elsevier, vol. 58(2), pages 319-332, April.
    4. Jelena Laušev & Aleksandar Stojanović & Nataša Todorović, 2011. "Determinants Of Debt Rescheduling In Eastern European Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(188), pages 7-31, January –.
    5. Olusegun Ayodele Akanbi, 2016. "External debt accumulation in sub-Saharan African countries: how fast is safe?," International Journal of Sustainable Economy, Inderscience Enterprises Ltd, vol. 8(2), pages 93-110.

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