The United States, Bilateral Debt-for-Nature Swaps, and Forest Loss: A Cross-National Analysis

Jamie M. Sommer, Michael Restivo and John M. Shandra

Journal of Development Studies, 2020, vol. 56, issue 4, 748-764

Abstract: We engage with the theoretical and empirical literature on the effectiveness of debt-for-nature swaps in promoting environmental protection. We present cross-national evidence that US bilateral debt-for-nature swaps are associated with less forest loss. Using a two-stage instrumental variable regression model to analyse a sample of 85 low- and middle-income countries from 2001 to 2014, we find that higher amounts of debt reduction and higher amounts of conservation funds generated as a result of such swaps are associated with lower rates of forest loss.

Date: 2020
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DOI: 10.1080/00220388.2018.1563683

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