Does Structural Economic Vulnerability Matter for Public Indebtedness in Developing Countries?
In this study, we examine the effect of structural economic vulnerability of developing countries on their public indebtedness. We perform our econometric analysis by relying on 96 developing countries over the period 1980-2008. The results suggest evidence of a "U-shaped" relationship between the structural vulnerability and the total public debt in developing countries. In Low-Income Countries (LICs), the build-up of the total public debt is particularly explained by structural vulnerability. Accordingly, international institutions should take into account such structural vulnerability when designing development policies, especially the ones related to debt sustainability in developing countries and particularly LICs.
|Date of creation:||07 Nov 2012|
|Date of revision:|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00749469|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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.:
- Naude, Wim & Santos-Paulino, Amelia U. & McGillivray, Mark, 2008.
"Vulnerability in Developing Countries,"
Working Paper Series
UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- Naude, Wim & Amelia U. Santos-Paulino & Mark McGillivray, 2009. "Vulnerability in Developing Countries," Working Paper Series WIDER Angle September 200, World Institute for Development Economic Research (UNU-WIDER).
- Naude, Wim & Santos-Paulino, Amelia U. & McGillivray, Mark, 2009. "Vulnerability in Developing Countries," Working Paper Series rb02-08, World Institute for Development Economic Research (UNU-WIDER).
- Briguglio, Lino, 1995. "Small island developing states and their economic vulnerabilities," World Development, Elsevier, vol. 23(9), pages 1615-1632, September.
- Dani Rodrik, 1998.
"Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses,"
NBER Working Papers
6350, National Bureau of Economic Research, Inc.
- Rodrik, Dani, 1999. " Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses," Journal of Economic Growth, Springer, vol. 4(4), pages 385-412, December.
- Rodrik, Dani, 1998. "Where Did all the Growth Go? External Shocks, Social Conflict and Growth Collapses," CEPR Discussion Papers 1789, C.E.P.R. Discussion Papers.
- Greenidge, Kevin & Drakes, Lisa & Craigwell, Roland, 2010. "The external public debt in the Caribbean Community," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 418-431, May.
- Patrick Guillaumont, 2010. "Assessing the Economic Vulnerability of Small Island Developing States and the Least Developed Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 46(5), pages 828-854.
- Benno Ferrarini, 2009. "Policy, vulnerability and the new debt sustainability framework," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(7), pages 895-914.
- Patrick Guillaumont, 2009. "An Economic Vulnerability Index: Its Design and Use for International Development Policy," Oxford Development Studies, Taylor & Francis Journals, vol. 37(3), pages 193-228.
- Barro, Robert J., 1979.
"On the Determination of the Public Debt,"
3451400, Harvard University Department of Economics.
- Rafael E. De Hoyos & Vasilis Sarafidis, 2006. "Testing for cross-sectional dependence in panel-data models," Stata Journal, StataCorp LP, vol. 6(4), pages 482-496, December.
- Joël CARIOLLE, 2011. "The Economic Vulnerability Index - 2010 Update," Working Papers I09, FERDI.
When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:halshs-00749469. 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: (CCSD)
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.