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Debt for nature: a swap whose time has gone?

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  • Jha, Raghbendra
  • Schatan, Claudia

Abstract

This paper purports to review the performance of the Debt for Nature Swap (DNS) Programs in light of their dual objectives of lowering deforestation rates as well as the cost of debt servicing. It evaluates the performance of private and Public DNS and inquires whether such swaps have made any significant dent on the debt and deforestation problems besetting many developing countries. It also assesses the prospects for such swaps in the future. We argue that since the prospects for DNS are limited, a more conducive solution for the deforestation problem in many developing countries may lie in generalized resource transfers to these countries of the sort envisaged in recent proposals for a World Environmental Organization (WEO).

Suggested Citation

  • Jha, Raghbendra & Schatan, Claudia, 2001. "Debt for nature: a swap whose time has gone?," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 4961, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col031:4961
    Note: Includes bibliography
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    File URL: http://repositorio.cepal.org/handle/11362/4961
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    1. Zagonari, Fabio, 1998. "Tropical deforestation: debt-for-nature versus debt-for-development swaps," Environment and Development Economics, Cambridge University Press, vol. 3(3), pages 267-293, July.
    2. Devlin, Robert, 1991. "Canje de deuda por naturaleza: la necesidad de una nueva agenda," Series Históricas 9578, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Hansen, Stein, 1989. "Debt for nature swaps -- Overview and discussion of key issues," Ecological Economics, Elsevier, vol. 1(1), pages 77-93, February.
    4. Sandler, Todd & Tschirhart, John, 1993. "Multiproduct Clubs: Membership and Sustainability," Public Finance = Finances publiques, , vol. 48(2), pages 153-170.
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    Cited by:

    1. Howard Haughton & Jodie Keane, 2021. "Alleviating debt distress and advancing the sustainable development goals," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(3), pages 528-536, May.
    2. Bowles, Paul & Moreno Brid, Juan Carlos, 2006. "The political economy of Mexico's dollarization debate," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 4981, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Mouez Fodha & Thomas Seegmuller, 2014. "Environmental Quality, Public Debt and Economic Development," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 57(4), pages 487-504, April.
    4. Mireille Chiroleu-Assouline & Mouez Fodha, 2023. "Debt, tax and environmental policy [Dette, taxe et politique environnementale]," Post-Print halshs-04181981, HAL.
    5. Raghbendra Jha, 2004. "Alleviating Environmental Degradation in the Asia-Pacific Region: International cooperation and the role of issue-linkage," Departmental Working Papers 2005-01, The Australian National University, Arndt-Corden Department of Economics.
    6. Moreno Brid, Juan Carlos & Rivas Valdivia, Juan Carlos & Santamaría, Jesús, 2005. "Mexico: economic growth, exports and industrial performance after NAFTA," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 4963, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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