Primary Commodity Dependence and Debt Problem in Less Developed Countries

Raymond Swaray (r.swaray@hull.ac.uk)
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Raymond Swaray: University of Hull,

Economics Bulletin, 2005, vol. 28, issue 10, A0

Abstract: Economists have proffered myriads of causes of the debt problem faced by less developed countries (LDCs). This paper uses the panel data technique to investigate the fundamental causes of the debt problem among primary commodity dependent LDCs. The results show a strong link between high levels of indebtedness and unfavourable terms of trade among commodity-dependent countries. Further results show that the degree of openness of the LDC's economy also has a significant influence on its external debt level.

JEL-codes: O1 O5 (search for similar items in EconPapers)
Date: 2005-11-08
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-05aa0010

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