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Sunday, July 19, 2020 | History

2 edition of External debt, public investment, and growth in low-income countries found in the catalog.

External debt, public investment, and growth in low-income countries

Benedict J. Clements

External debt, public investment, and growth in low-income countries

by Benedict J. Clements

  • 371 Want to read
  • 11 Currently reading

Published by International Monetary Fund, Fiscal Affairs Dept. in Washington, D.C .
Written in English

    Subjects:
  • Debts, External -- Developing countries.,
  • Public investments -- Developing countries.,
  • Developing countries -- Economic conditions.

  • Edition Notes

    StatementBenedict Clements, Rina Bhattacharya and Toan Quoc Nguyen.
    SeriesIMF working paper -- WP/03/249
    ContributionsBhattacharya, Rina., Nguyen, Toan Quoc., International Monetary Fund. Fiscal Affairs Dept.
    The Physical Object
    Pagination24 p. ;
    Number of Pages24
    ID Numbers
    Open LibraryOL19915827M

      Initiatives to reduce public debt in low-income countries have made substantial progress over the past decade, but challenges remain and continue to evolve. This column presents the findings from a new IMF-World Bank report on these developments. Low-income countries have benefited from debt relief and favourable economic conditions, resulting in generally lower debt burdens. Mozambique was already struggling with repaying its $14 billion external debt when COVID hit earlier this year. The country's debt-to-GDP ratio, which was % in ballooned to % in

    which external debt impacts economic growth in low-income countries. They estimate a reduced form growth equation for 55 low-income countries from to , using both fixed effects and system generalised method of moments. Like their colleagues at the IMF, Pattillo et al. (), Clements et al.   Most countries – from those developing their economies to the world's richest nations – issue debt in order to finance their growth. This is similar to how a business will take out a loan to.

    A rise in external debt that car- ity analysis in low-income countries — can help countries identify risks, make policy corrections, and better understand the relationship between public investment, growth, and debt sustainabil-ity. Debtors and creditors are encouraged to use newly available tools to help inform sustainable. Tajikistan’s reported public debt stock has declined significantly over the past decade, but the country remains vulnerable to external and growth shocks. The public debt stock declined from about 90 percent of GDP in to percent of GDP in Most of the debt is denominated in foreign currency—around percent of GDP in


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External debt, public investment, and growth in low-income countries by Benedict J. Clements Download PDF EPUB FB2

External Debt, Public Investment, and Growth in Low-Income Countries Prepared by Benedict Clements, Rina Bhattacharya, and Toan Quoc Nguyen1 Authorized for distribution by Sanjeev Gupta December Abstract This Working Paper should not be reported as representing views of the Size: KB.

A separate empirical analysis of the debt-growth relationship in low-income countries would be especially useful in assessing the growth-enhancing effects of recent debt-relief initiatives.

This paper assesses the External debt of external debt on growth in low-income countries and the channels through which these effects are : Benedict Clements. 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. External Debt, Public Investment, and Growth In Low-Income Countries. Toan Quoc Nguyen & Benedict J.

Clements & Rina Bhattacharya, "External Debt, Public Investment, and Growth in Low-Income Countries," IMF Working Papers 03/, International Monetary Fund. Handle: RePEc:imf:imfwpa/ External Debt, Public Investment, and Growth in Low-Income Countries.

By Toan Quoc Nguyen, Benedict J. Clements and Rina Bhattacharya. Abstract. 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.

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. The main objective of the study is to and growth in low-income countries book whether external debt has significant relationship with economic growth in Nigerian.

However, we specifically want to: 1. Ascertain the impact of external debt on Gross Domestic Product (GDP) in Nigeria. Determine the effect of external debt servicing on Gross domestic Product in Nigeria.

Presbiterio () collected data for 13 low income countries and found that in approximately 75 per cent of domestic public debt issued by these countries was held by domestic banks, but that inbank holdings of public debt had decreased to 61 per cent of total public debt (the figures are.

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv) the.

Additional Physical Format: Online version: Clements, Benedict J. External debt, public investment, and growth in low-income countries. Washington, D.C. Based on a system estimation approach, using Two Stage Least Squares as an estimation technique in the case of Cameroon for a period of 34 years (), the results reveal that while domestic investment increases economic growth, external debt retards economic growth in Cameroon, revealing the influence of debt overhang.

Get this from a library. External debt, public investment, and growth in low-income countries. [Benedict J Clements; Rina Bhattacharya; Toan Quoc Nguyen; International Monetary Fund. Fiscal Affairs Department.] -- 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. External Debt, Public Investment, and Growth in Low-Income Countries Prepared by Benedict Clements, Rina Bhattacharya, and Toan Quoc Nguyen 1 Authorized for distribution by Sanjeev Gupta.

Our illustration in Fig. 1 links countries' debt-to-GDP ratio peaks to the deviation of per capita GDP growth rate during the ‘peak years’ (ad hoc defined as running from two years prior to two years after the debt-to-GDP maximum) from that of the full time horizon (excluding the five peak years).

2 We highlight observations for the three yearsandas well as a small. Debt in Low-Income Countries: Evolution, Implications, and Remedies (English) Abstract. Debt vulnerabilities in low-income countries have increased substantially in recent years. Sincemedian government debt has risen by about 20 percentage points of gross domestic product and increasingly comes from non-concessional and private sources.

Abstract. 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.

iv International Debt Statistics T his year’s edition of International Debt Statistics, successor to Global Development Finance and World Debt Tables, is designed to respond to user demand for timely, comprehensive data on trends in external debt in low- and middle-income coun.

There are no precise rules for when external debt becomes a problem. But, a key factor is whether a country can satisfactorily meet debt interest payments from export earnings. The IMF has suggested external debt should be kept below.

A country’s level of debt in Net Present Value to either percent of exports or percent of government. As public health systems and economies grind to a halt, it is becoming increasingly clear that the impact of COVID will reverberate throughout the global economy for years to come.

Prior to this emergency, multilateral organisations were already warning that debt sustainability in low-income countries was deteriorating.

Now, the World Bank and IMF have called [ ]. Median public debt among 59 countries classified as low-income developing economies by the IMF had risen from % of GDP in to % in and had stagnated subsequently (IMF, [16]).

For the same group of countries, debt servicing had represented, on average, % of government revenue inup from % in (Griffiths.Thus, according to the International Monetary Fund, China accounts for around 11 per cent of the external public debt of a group of 37 low-income countries covered in a study by the organisation.

That is significantly higher than the share in total debt ( per cent) of bilateral credit to these countries provided by members of the Paris Club.period.

However, the study found no evidence that the growth in domestic debt crowds-out private sector lending in Kenya. Abbas and Christensen () analysed optimal domestic debt levels in low-income countries and emerging markets between the period using .