Primary Commodity Dependence And Debt Problem In Less Developed Countries
Economists have proffered myriads of causes of the debt problem faced by less developed countries (LDCs). This paper uses the panel data technique to investigate the fundamental causes of the debt problem among primary commodity dependent LDCs. The results show a strong link between high levels of indebtedness and unfavourable terms of trade among commodity-dependent countries. Further results show that the degree of openness of the LDC’s economy also has a significant influence on its external debt level.
Volume (Year): 5 (2005)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.usc.es/economet/eaa.htm|
|Order Information:|| Web: http://www.usc.es/economet/info.htm Email: |
References listed on IDEAS
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.:
- Paul, Samuel & Mote, Vasant L, 1970. "Competitiveness of Exports: A Micro-level Approach," Economic Journal, Royal Economic Society, vol. 80(323), pages 895-909, December.
- Claessens, Stijn & Qian, Ying, 1991. "Risk management in sub-Saharan Africa," Policy Research Working Paper Series 593, The World Bank.
- Hong Liang & C. John McDermott & Paul Cashin, 1999.
"How Persistent Are Shocks to World Commodity Prices?,"
IMF Working Papers
99/80, International Monetary Fund.
- Paul Cashin & Hong Liang & C. John McDermott, 2000. "How Persistent Are Shocks to World Commodity Prices?," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 2.
- Alberto Alesina & Nouriel Roubini, 1992. "Political Cycles in OECD Economies," Review of Economic Studies, Oxford University Press, vol. 59(4), pages 663-688.
- Krueger, Anne O, 1987. "Debt, Capital Flows, and LDC Growth," American Economic Review, American Economic Association, vol. 77(2), pages 159-64, May.
- Jonathan Eaton, 1987.
"Public Debt Guarantees and Private Capital Flight,"
NBER Working Papers
2172, National Bureau of Economic Research, Inc.
- Borensztein, Eduardo, 1990. "Debt overhang, credit rationing and investment," Journal of Development Economics, Elsevier, vol. 32(2), pages 315-335, April.
- Rogoff, Kenneth, 1990. "Symposium on New Institutions for Developing Country Debt," Journal of Economic Perspectives, American Economic Association, vol. 4(1), pages 3-6, Winter.
When requesting a correction, please mention this item's handle: RePEc:eaa:aeinde:v:5:y:2005i:4_8. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (M. Carmen Guisan)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.