Why heavily indebted poor countries have failed to pay back their debt? An empirical investigation (in English)

Menbere Workie Tiruneh ()
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Menbere Workie Tiruneh: Institute of Slovak and World Economies, Slovak Academy of Sciences, Bratislava, Slovakia

Czech Journal of Economics and Finance (Finance a uver), 2005, vol. 55, issue 3-4, 124-140

Abstract: This paper, in using cross-section pooled logit, probit, and fixed-effects logit models, empirically explores the main factors affecting the rescheduling of contractual debt-service payments by heavily indebted poor countries (HICPs) in the late 1980s and the 1990s. The results seem to suggest that HIPCs past external debt, per-capita income level, GDP growth rate, trade openness, foreign-currency reserves, and capital inflows are core factors affecting debt servicing.

Keywords: debt crisis; debt rescheduling; logit model; fixed effects; heavily indebted poor countries (HIPC) (search for similar items in EconPapers)
JEL-codes: C13 C31 C33 (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:55:y:2005:i:3-4:p:124-140

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