Debt Relief and Adjustment Effort in a Multi Period Model
Sven Tengstam ()
No 176, Working Papers in Economics from University of Gothenburg, Department of Economics
This paper shows that if the period following the granting of debt relief is taken into account, debt relief increases adjustment effort(investment), irrespective of whether there is an initial debt overhang or not.
Keywords: HIPC; Debt relief; Debt overhang; Investment; Incentives (search for similar items in EconPapers)
JEL-codes: F34 H63 O11 O16 (search for similar items in EconPapers)
Pages: 8 pages
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Published in Economics Letters, 2006, pages 127-130.
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Journal Article: Debt relief and adjustment effort in a multi-period model (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunwpe:0176
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