Does Structural Economic Vulnerability Matter for Public Indebtedness in Developing Countries?

Sèna Kimm Gnangnon
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Sèna Kimm Gnangnon: CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique

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Abstract: In this study, we examine the effect of structural economic vulnerability of developing countries on their public indebtedness. We perform our econometric analysis by relying on 96 developing countries over the period 1980-2008. The results suggest evidence of a "U-shaped" relationship between the structural vulnerability and the total public debt in developing countries. In Low-Income Countries (LICs), the build-up of the total public debt is particularly explained by structural vulnerability. Accordingly, international institutions should take into account such structural vulnerability when designing development policies, especially the ones related to debt sustainability in developing countries and particularly LICs.

Keywords: Structural Vulnerability; Public debt; Fixed Effects (search for similar items in EconPapers)
Date: 2012-11-07
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00749469
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