CONSEQUENCES OF DEBT RELIEF INITIATIVES IN THE 1990s

Ralf Hepp

Applied Econometrics and International Development, 2010, vol. 10, issue 1

Abstract: In this paper I investigate the effects of recent debt relief initiatives on resource flows to low-income developing countries. For countries that are part of the Heavily Indebted Poor Countries (HIPC) initiative, I find that good macroeconomic management does not influence the level of resource and foreign aid receipts. Furthermore, my estimates suggest HIPC countries receive higher net transfers than non-HIPC countries in the 1990s with the differences declining after 1996. Confirming findings in the earlier literature, my results suggest that aid flows have not changed significantly in response to debt relief.

Keywords: HIPC debt initiative; foreign aid; selectivity; additionality (search for similar items in EconPapers)
JEL-codes: F34 F35 O19 (search for similar items in EconPapers)
Date: 2010
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Related works:
Working Paper: Consequences of Debt Relief Initiatives in the 1990s (2005)
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