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Who gets debt relief ?

Author

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  • Chauvin, Nicolas Depetris
  • Kraay, Aart
Abstract
The authors use preliminary results from an ongoing effort to construct estimates of debt relief to study its allocation across a sample of 62 low-income countries. They find some evidence that debt relief, particularly from multilateral creditors, has been allocated to countries with better policies in recent years. Somewhat surprisingly, conditional on per capita incomes and policy, more indebted countries are not much more likely to receive debt relief. But countries that have large debts especially to multilateral creditors are more likely to receive debt relief. The authors do not find much evidence that debt relief responds to shocks to GDP growth. Finally, most of the persistence in debt relief is driven by slowly changing country characteristics, indicating that it may be difficult for countries to"exit"from cycles of repeated debt relief.

Suggested Citation

  • Chauvin, Nicolas Depetris & Kraay, Aart, 2006. "Who gets debt relief ?," Policy Research Working Paper Series 4000, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4000
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    References listed on IDEAS

    as
    1. Jeffrey M. Wooldridge, 2005. "Simple solutions to the initial conditions problem in dynamic, nonlinear panel data models with unobserved heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(1), pages 39-54, January.
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    4. Nicolas Depetris Chauvin & Aart Kraay, 2005. "What Has 100 Billion Dollars Worth of Debt Relief Done for Low- Income Countries?," International Finance 0510001, University Library of Munich, Germany.
    5. David Roodman, 2004. "An Index of Donor Performance," Working Papers 42, Center for Global Development.
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    Keywords

    External Debt; Banks&Banking Reform; Strategic Debt Management; Foreign Direct Investment; Economic Theory&Research;
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