IDEAS home Printed from https://ideas.repec.org/a/rar/journl/0060.html
   My bibliography  Save this article

The developing countries’ foreign debt in the last twenty years

Author

Listed:
  • Maria Cipollina

Abstract

In the last years of the 20th century numerous organizations proposed debt forgiveness policy as a radical solution to the foreign debt crises in the developing countries. Today, economists are seriously engaged in analysis of the impact of debt forgiveness on the economic growth of the poor countries. This paper examines the foreign debt problem and describes economic growth models in order to explain how debt forgiveness helps badly indebted poor economies to achieve higher economic growth rates.

Suggested Citation

  • Maria Cipollina, 2007. "The developing countries’ foreign debt in the last twenty years," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 3, July.
    • Handle: RePEc:rar:journl:0060
    as

    Download full text from publisher

    File URL: http://www.francoangeli.it/riviste/Scheda_Riviste.asp?IDArticolo=31995&Tipo=ArticoloPDF
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff & Miguel A. Savastano, 2003. "Debt Intolerance," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(1), pages 1-74.
    2. Corsetti, Giancarlo & Pesenti, Paolo & Roubini, Nouriel, 1999. "What caused the Asian currency and financial crisis?," Japan and the World Economy, Elsevier, vol. 11(3), pages 305-373, October.
    3. Nancy Birdsall & John Williamson, 2002. "Delivering on Debt Relief: From IMF Gold to a New Aid Architecture," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 337, April.
    4. repec:bpj:bejmac:v:5:y:2005:i:1:p:1133-1133 is not listed on IDEAS
    5. Ms. Hélène Poirson & Mr. Luca A Ricci & Ms. Catherine A Pattillo, 2004. "What Are the Channels Through Which External Debt Affects Growth?," IMF Working Papers 2004/015, International Monetary Fund.
    6. Craig Burnside & Domenico Fanizza, 2001. "Hiccups for HIPCs?," WIDER Working Paper Series DP2001-99, World Institute for Development Economic Research (UNU-WIDER).
    7. Ndikumana, Leonce, 2004. "Additionality of debt relief and debt forgiveness, and implications for future volumes of official assistance," International Review of Economics & Finance, Elsevier, vol. 13(3), pages 325-340.
    8. Nicolas Depetris Chauvin & Aart Kraay, 2005. "What Has 100 Billion Dollars Worth of Debt Relief Done for Low- Income Countries?," International Finance 0510001, University Library of Munich, Germany.
    9. Azariadis, Costas, 1996. "The Economics of Poverty Traps: Part One: Complete Markets," Journal of Economic Growth, Springer, vol. 1(4), pages 449-496, December.
    10. Jeffrey Sachs, 1988. "Conditionality, Debt Relief, and the Developing Country Debt Crisis," NBER Working Papers 2644, National Bureau of Economic Research, Inc.
    11. Cohen, Daniel, 1997. "Growth and External Debt: A New Perspective on the African and Latin American Tragedies," CEPR Discussion Papers 1753, C.E.P.R. Discussion Papers.
    12. Lisandro Abrego & Doris C. Ross, 2001. "Debt Relief Under the HIPC Initiative: Context and Outlook for Debt Sustainability and Resource Flows," WIDER Working Paper Series DP2001-96, World Institute for Development Economic Research (UNU-WIDER).
    13. Easterly, William, 2002. "How Did Heavily Indebted Poor Countries Become Heavily Indebted? Reviewing Two Decades of Debt Relief," World Development, Elsevier, vol. 30(10), pages 1677-1696, October.
    14. World Bank, 1999. "Global Economic Prospects and the Developing Countries 1998-99," World Bank Publications - Books, The World Bank Group, number 32393.
    15. Bird, Graham, 2001. "IMF Programs: Do They Work? Can They be Made to Work Better?," World Development, Elsevier, vol. 29(11), pages 1849-1865, November.
    16. Barro, Robert J. & Lee, Jong-Wha, 2005. "IMF programs: Who is chosen and what are the effects?," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1245-1269, October.
    17. Asiedu, Elizabeth, 2003. "Debt relief and institutional reform: a focus on Heavily Indebted Poor Countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(4), pages 614-626.
    18. Ms. Doris C Ross & Mr. Lisandro Abrego, 2001. "Debt Relief Under the HIPC Initiative: Context and Outlook for Debt Sustainability and Resource Flow," IMF Working Papers 2001/144, International Monetary Fund.
    19. Jeffrey D. Sachs & Anthony M. Solomon & William S. Ogden & Eduardo Wiesner & R. T. McNamar, 1988. "Developing Country Debt," NBER Chapters, in: International Economic Cooperation, pages 233-320, National Bureau of Economic Research, Inc.
    20. Easterly, William, 2005. "What did structural adjustment adjust?: The association of policies and growth with repeated IMF and World Bank adjustment loans," Journal of Development Economics, Elsevier, vol. 76(1), pages 1-22, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Knoll, Martin, 2013. "The heavily indebted poor countries and the multilateral debt relief initiative: A test case for the validity of the debt overhang hypothesis," Discussion Papers 2013/11, Free University Berlin, School of Business & Economics.
    2. Marin Ferry & Marc Raffinot, 2019. "Curse or Blessing? Has the Impact of Debt Relief Lived up to Expectations? A Review of the Effects of the Multilateral Debt Relief Initiatives for Low-Income Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 55(9), pages 1867-1891, September.
    3. Ms. Sandra Marcelino & Ms. Ivetta Hakobyan, 2014. "Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth," IMF Working Papers 2014/230, International Monetary Fund.
    4. Cordella, Tito & Missale, Alessandro, 2013. "To give or to forgive? Aid versus debt relief," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 504-528.
    5. Presbitero, Andrea F., 2008. "Debt Relief Effectiveness and Institution Building," MPRA Paper 12597, University Library of Munich, Germany.
    6. Brigitte Granville, 2006. "Integrating poverty reduction in IMF-World Bank Models," Working Papers id:502, eSocialSciences.
    7. Joshua C. Hall, Serkan Karadas and Minh Tam T. Schlosky, 2018. "Is There Moral Hazard in the Heavily Indebted Poor Countries (HIPC) Initiative Debt Relief Process?," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 43(3), pages 1-24, September.
    8. Ms. Annalisa Fedelino & Alina Kudina, 2003. "Fiscal Sustainability in African HIPC Countries: A Policy Dilemma?," IMF Working Papers 2003/187, International Monetary Fund.
    9. Siddique, Abu & Selvanathan, E.A. & Selvanathan, Saroja, 2016. "The impact of external debt on growth: Evidence from highly indebted poor countries," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 874-894.
    10. Nemlioglu, Ilayda & Mallick, Sushanta, 2020. "Does multilateral lending aid capital accumulation? Role of intellectual capital and institutional quality," Journal of International Money and Finance, Elsevier, vol. 108(C).
    11. 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.
    12. Sushanta Mallick & Brigitte Granville, 2005. "How best to link poverty reduction and debt sustainability in IMF-World Bank models?," International Review of Applied Economics, Taylor & Francis Journals, vol. 19(1), pages 67-85.
    13. Almuth Scholl, 2018. "Debt Relief for Poor Countries: Conditionality and Effectiveness," Economica, London School of Economics and Political Science, vol. 85(339), pages 626-648, July.
    14. Freytag, Andreas & Pehnelt, Gernot, 2009. "Debt Relief and Governance Quality in Developing Countries," World Development, Elsevier, vol. 37(1), pages 62-80, January.
    15. Daniela López, 2003. "Assessing Bolivia´s debt relief under the heavily, indebted poor countries initiative," Revista de Análisis del BCB, Banco Central de Bolivia, vol. 6(2-1), pages 89-138, December.
    16. Alvarez-Plata, Patricia & Brück, Tilman, 2008. "External Debt in Post-Conflict Countries," World Development, Elsevier, vol. 36(3), pages 485-504, March.
    17. Marchesi, Silvia & Sabani, Laura, 2007. "IMF concern for reputation and conditional lending failure: Theory and empirics," Journal of Development Economics, Elsevier, vol. 84(2), pages 640-666, November.
    18. Dreher, Axel, 2006. "IMF and economic growth: The effects of programs, loans, and compliance with conditionality," World Development, Elsevier, vol. 34(5), pages 769-788, May.
    19. Andreas FREYTAG & Julian SCHMIED, 2019. "Debt Relief And Good Governance: New Evidence Of Developing Countries For The Period 1990-2013," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 19(1), pages 15-32.
    20. Hans J. Blommestein & Javier Santiso, 2007. "New Strategies for Emerging Domestic Sovereign Bond Markets," OECD Development Centre Working Papers 260, OECD Publishing.

    More about this item

    Keywords

    Debt Crises; Debt Forgiveness; Economic Growth; Foreign Debt;
    All these keywords.

    JEL classification:

    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rar:journl:0060. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge The email address of this maintainer does not seem to be valid anymore. Please ask the person in charge to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/rossiea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.