We examine both grants and net loans made to low income countries during the last two decades to understand the main reasons that motivated the behaviour of both donors and creditors. Our results point to an overall "mixed" evidence, concerning the hypotheses of defensive lending (and defensive...

We examine the allocation of net loans, grants and net transfers to IDA countries over the period 1982-2008 focusing on the role of debt, and debt sustainability, in the decisions of multilateral and bilateral donors. We estimate a dynamic panel of 75 IDA and IDA-Blend countries for the period...

We examine both grants and net loans made to low income countries during the last two decades to understand the main reasons that motivated the behaviour of both donors and creditors. We find that the total amount of transfers to HIPCs, as compared to non-HIPCs, have been increasing with their...

We examine both grants and net loans made to low income countries during the last two decades to understand the main reasons that motivated the behaviour of both donors and creditors. We find that the total amount of net transfers to HIPCs, as compared to non-HIPCs, have been increasing with...

We investigate whether defensive lending and defensive granting motivated the transfer of resources by official donors to low income countries. We estimate a dynamic panel of 75 low-income IDA and IDA-Blend countries for the period 1982 to 2008, where the sample includes 41 HIPC and a control...

We examine the allocation of net loans, net transfers, and grants to IDA countries over the period 1982–2008 focusing on the role of debt and debt sustainability in the decisions of multilateral and bilateral donors. We find no evidence of defensive lending but strong evidence of defensive...

This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...

Is generalized debt relief an effective development strategy, or should assistance be tailored to countries' characteristics? To answer this question, the authors build a simple model in which recipient governments reveal their creditworthiness if donors offer them to choose between aid and debt...

<i> Per una riforma del patto di stabilità e crescita </i> (di Alessandro Missale) - ABSTRACT: Ensuring macroeconomic stability is no longer a priority of European integration as it was ten years ago. Indeed, lower inflation and fiscal consolidation across Europe have been major achievements of the...