Who Gets Debt Relief?
The authors use preliminary results from an ongoing effort to construct estimates of debt relief to study its allocation across a sample of 62 low-income countries. They find some evidence that debt relief, particularly from multilateral creditors, has been allocated to countries with better policies in recent years. Somewhat surprisingly, conditional on per capita incomes and policy, more indebted countries are not much more likely to receive debt relief. But countries that have large debts especially to multilateral creditors are more likely to receive debt relief. The authors do not find much evidence that debt relief responds to shocks to GDP growth. Finally, most of the persistence in debt relief is driven by slowly changing country characteristics, indicating that it may be difficult for countries to "exit" from cycles of repeated debt relief.
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Bibliographic Details
| Main Authors: |
Chauvin, Nicolas Depetris,
Kraay, Aart |
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| Language: | English
en_US |
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| Published: |
World Bank, Washington, DC
2006-08-01
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| Subjects: | ACCOUNTING,
AMOUNT OF DEBT,
BALANCE SHEETS,
BENCHMARK,
BILATERAL CREDITORS,
BILATERAL DEBT,
CREDITOR,
CROSS-COUNTRY EVIDENCE,
DEBT,
DEBT ACCUMULATION,
DEBT BURDEN,
DEBT BURDENS,
DEBT CRISES,
DEBT FORGIVENESS,
DEBT OUTSTANDING,
DEBT OVERHANG,
DEBT RELIEF,
DEBT SERVICE,
DEBT SERVICE OBLIGATIONS,
DEBT SERVICE REDUCTIONS,
DEBTOR,
DEBTOR COUNTRIES,
DEBTOR COUNTRY,
DEBTOR REPORTING,
DEBTOR REPORTING SYSTEM,
DEBTORS,
DEBTS,
DEVELOPMENT AGENCY,
DEVELOPMENT ASSISTANCE,
ECONOMETRICS,
ECONOMIC GROWTH,
EXPORTS,
EXTERNAL DEBT,
EXTERNAL DEBT SERVICE,
EXTERNAL DEBT STATISTICS,
FACE VALUE,
FOREIGN AID,
GDP,
GDP PER CAPITA,
GLOBAL DEVELOPMENT FINANCE,
GROWTH,
INCOME,
INDEBTED COUNTRIES,
INSURANCE,
MATURITIES,
MULTILATERAL CREDITORS,
MULTILATERAL DEBT,
MULTILATERAL DEBT RELIEF,
PER CAPITA INCOME,
PER CAPITA INCOMES,
POLICIES,
PRESENT VALUE,
PRESENT VALUE OF DEBT,
PUBLIC DEBT,
REAL GDP,
STOCK OF DEBT,
VALUATION, |
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| Online Access: | http://documents.worldbank.org/curated/en/2006/08/7021699/gets-debt-relief
https://hdl.handle.net/10986/9300
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