IDEAS home Printed from https://ideas.repec.org/p/wbk/wbrwps/255.html
   My bibliography  Save this paper

The external debt difficulties of low income Africa

Author

Listed:
  • Humphreys, Charles
  • Underwood, John

Abstract

Two debt crises affect developing countries. The more publicized crisis affects the middle income Baker Plan countries, including Nigeria and Cote d'Ivoire. The less well known crisis affects most of Africa's 34 low income countries. Poverty and economic rigidities in the African countries make it harder for them to grow out of their debt problems without special assistance. These countries are more dependent than the highly indebted countries on primary commodity exports, which often require long investment periods to increase production. Debtor countries must take the lead in establishing and maintaining workable medium term adjustment programs. Once adjustment is occuring, it is in the interests of donors and creditors to continue supporting recovery well into the 1990s.

Suggested Citation

  • Humphreys, Charles & Underwood, John, 1989. "The external debt difficulties of low income Africa," Policy Research Working Paper Series 255, The World Bank.
    • Handle: RePEc:wbk:wbrwps:255
    as

    Download full text from publisher

    File URL: http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1989/08/01/000009265_3960928053649/Rendered/PDF/multi0page.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. W. Max Corden, 1988. "An International Debt Facility?," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 401-421, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Takamasa Akiyama & Larson, Donald F., 1989. "Recent trends and prospects for agricultural commodity exports in sub-Saharan Africa," Policy Research Working Paper Series 348, The World Bank.
    2. Fosu, Augustin Kwasi & Getachew, Yoseph Yilma & Ziesemer, Thomas H.W., 2016. "Optimal Public Investment, Growth, And Consumption: Evidence From African Countries," Macroeconomic Dynamics, Cambridge University Press, vol. 20(8), pages 1957-1986, December.
    3. 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.
    4. Augustin Kwasi Fosu & Yoseph Getachew & Thomas H.W. Ziesemer, 2014. "Optimal Public Investment, Growth, and Consumption: Fresh Evidence from African Countries," Working Papers 201464, University of Pretoria, Department of Economics.
    5. David Black, 2020. "Development co‐operation and the partnership–ownership nexus: Lessons from the Canada–Ghana experience," Development Policy Review, Overseas Development Institute, vol. 38(S1), pages 112-132, May.

    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. Elhanan Helpman, 1989. "Voluntary Debt Reduction: Incentives and Welfare," IMF Staff Papers, Palgrave Macmillan, vol. 36(3), pages 580-611, September.
    2. Kaushik Basu, 1989. "The International Debt Problem: Could Someone Please Explain It to Me?," WIDER Working Paper Series wp-1989-078, World Institute for Development Economic Research (UNU-WIDER).
    3. G. John Ikenberry, 1993. "The Political Origins of Bretton Woods," NBER Chapters, in: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, pages 155-198, National Bureau of Economic Research, Inc.
    4. berlage, Lodewijk & cassimon, Danny & dreze, Jacques & Reding, Paul, 2003. "Prospective Aid and Indebtedness Relief: A Proposal," World Development, Elsevier, vol. 31(10), pages 1635-1654, October.
    5. Bowe, M. & Dean, J.W., 1997. "Has the Market Solved the Sovereign-Debt Crisis?," Princeton Studies in International Economics 83, International Economics Section, Departement of Economics Princeton University,.

    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:wbk:wbrwps:255. 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: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.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.