A Debt Overhang Model for Low-Income Countries : Implications for Debt Relief

The paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for debt relief. The paper indicates that the extent of debt overhang, and the effectiveness of debt relief, would depend on a recipient country's initial economic conditions and level of total factor productivity.
Publication date: October 2006
ISBN: 9781451864847
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Topics covered in this book

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Development - Economic Development , International - Economics , debt overhang , participation constraint , low-income countries , dynamic programming , tfp , gdp per capita , real gdp , International Lending and Debt Problems , Economic Growth of Open Economies , Low Income Developing Countries

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