RT Generic
T1 Debt position of developing countries and new initiatives for debt reduction: a panel data fixed effects estimation of the impacts of the HIPC initiatives
A1 Houssou,Nazaire
A1 Heidhues,Franz
WP 2006/03/28
AB In September 1996, the World Bank and the International Monetary Fund launched the Heavily Indebted Poor Countries Initiative (HIPC). This initiative was endorsed by 180 governments around the world as an effective and welcome approach to help poor, severely indebted countries reduce debt as a part of the overall poverty reduction strategy. Three years later, the initiative was
enhanced to provide for faster, broader and deeper debt relief. Using a panel data fixed effect estimation, this study assesses the achievements of the first
and second HIPC initiatives and explores further areas of intervention that might help the HIPCs graduate from debt rescheduling and achieve sustainable growth and poverty alleviation. Despite moderate achievements of the HIPC measures so far, this paper argues in favour of a HIPC III initiative. Much more relief is needed to link debt reduction to poverty alleviation if the
expectations raised by the HIPC initiatives are to become reality.
K1 Entwicklungsländer
K1 Auslandsschulden
K1 Schuldenerlass
K1 Armut
PP Hohenheim
PB Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
UL http://opus.uni-hohenheim.de/volltexte/2006/143