Debt Relief and Adjustment Effort in a Multi Period Model

Sven Tengstam

No 176, Working Papers in Economics from University of Gothenburg, Department of Economics

Abstract: This paper shows that if the period following the granting of debt relief is taken into account, debt relief increases adjustment effort(investment), irrespective of whether there is an initial debt overhang or not.

Keywords: HIPC; Debt relief; Debt overhang; Investment; Incentives (search for similar items in EconPapers)
JEL-codes: F34 H63 O11 O16 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2005-09-12
New Economics Papers: this item is included in nep-afr
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Published in Economics Letters, 2006, pages 127-130.

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http://hdl.handle.net/2077/2714 (text/html)

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Journal Article: Debt relief and adjustment effort in a multi-period model (2006)
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