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Debt Dynamics and Contingency Financing: Theoretical Reappraisal of the HIPC Initiative

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  • Machiko Nissanke
  • Benno Ferrarini

Abstract

The objective of this paper is to examine debt dynamics of highly indebted poor countries (HIPCs) and identify key factors responsible for their protracted debt crisis. For this purpose, we first evaluate economic conditions of debt sustainability in the context of the intertemporal borrowing model, the growth-cum-debt model and the gap models.

Suggested Citation

  • Machiko Nissanke & Benno Ferrarini, 2001. "Debt Dynamics and Contingency Financing: Theoretical Reappraisal of the HIPC Initiative," WIDER Working Paper Series DP2001-139, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:dp2001-139
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2001-139.pdf
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    Cited by:

    1. Nissanke, Machiko & Thorbecke, Erik, 2006. "Channels and policy debate in the globalization-inequality-poverty nexus," World Development, Elsevier, vol. 34(8), pages 1338-1360, August.
    2. Machiko Nissanke & Howard Stein, 2003. "Financial Globalization and Economic Development: Toward an Institutional Foundation," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 287-308, Spring.
    3. Machiko Nissanke & Erik Thorbecke, 2006. "A Quest for Pro-Poor Globalization," WIDER Working Paper Series RP2006-46, World Institute for Development Economic Research (UNU-WIDER).

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