Why heavily indebted poor countries have failed to pay back their debt? An empirical investigation (in English)

This paper, in using cross-section pooled logit, probit, and fixed-effects logit models, empirically explores the main factors affecting the rescheduling of contractual debt-service payments by heavily indebted poor countries (HICPs) in the late 1980s and the 1990s. The results seem to suggest that HIPCs past external debt, per-capita income level, GDP growth rate, trade openness, foreign-currency reserves, and capital inflows are core factors affecting debt servicing.

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Year of publication:	2005
Authors:	Tiruneh, Menbere Workie
Published in:	Czech Journal of Economics and Finance (Finance a uver). - Institut ekonomických studií, ISSN 0015-1920. - Vol. 55.2005, 3-4, p. 124-140
Publisher:	Institut ekonomických studií
Subject:	debt crisis \| debt rescheduling \| logit model \| fixed effects \| heavily indebted poor countries (HIPC)

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C13 - Estimation ; C31 - Cross-Sectional Models; Spatial Models ; C33 - Models with Panel Data
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005808627