External Debt, Public Investment, and Growth in Low-Income Countries /

This paper examines the channels through which external debt affects growth in low-income countries. Our results suggest that the substantial reduction in the stock of external debt projected for highly indebted poor countries (HIPCs) would directly increase per capita income growth by about 1 perce...

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Автор: Nguyen, Toan
Інші автори: Bhattacharya, Rina, Clements, Benedict
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2003.
Серія:IMF Working Papers; Working Paper ; No. 2003/249
Онлайн доступ:Full text available on IMF
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245 1 0 |a External Debt, Public Investment, and Growth in Low-Income Countries /  |c Toan Nguyen, Benedict Clements, Rina Bhattacharya. 
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300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
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520 3 |a This paper examines the channels through which external debt affects growth in low-income countries. Our results suggest that the substantial reduction in the stock of external debt projected for highly indebted poor countries (HIPCs) would directly increase per capita income growth by about 1 percentage point per annum. Reductions in external debt service could also provide an indirect boost to growth through their effects on public investment. If half of all debt-service relief were channeled for such purposes without increasing the budget deficit, then growth could accelerate in some HIPCs by an additional 0.5 percentage point per annum. 
538 |a Mode of access: Internet 
700 1 |a Bhattacharya, Rina. 
700 1 |a Clements, Benedict. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/249 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2003/249/001.2003.issue-249-en.xml  |z IMF e-Library