An Analysis Of External Debt And Capital Flight In The Severely Indebted Low Income Countries In Sub Saharan Africa
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An Analysis Of External Debt And Capital Flight In The Severely Indebted Low Income Countries In Sub Saharan Africa
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Author : Mr.Simeon Inidayo Ajayi
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-01
An Analysis Of External Debt And Capital Flight In The Severely Indebted Low Income Countries In Sub Saharan Africa written by Mr.Simeon Inidayo Ajayi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-06-01 with Business & Economics categories.
The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.
External Debt And Capital Flight In Sub Saharan Africa
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Author : Mr.Mohsin S. Khan
language : en
Publisher: International Monetary Fund
Release Date : 2000-05-12
External Debt And Capital Flight In Sub Saharan Africa written by Mr.Mohsin S. Khan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-05-12 with Business & Economics categories.
Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.
External Finance For Low Income Countries
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Author : IMF Institute
language : en
Publisher: Fonds Monetaire International
Release Date : 1997
External Finance For Low Income Countries written by IMF Institute and has been published by Fonds Monetaire International this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
La conferencia se enfoco en el impacto de la deuda externa en paises de bajo ingreso, particularmente los paises pobres, pasos que se toman para tratar los problemas de la deuda y los flujos de capital privado. Este volumen reune las ponencias de estudiosos de universidades y de organizaciones de investigacion internacional y los miembros del Fondo y el Banco Mundial.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : Stijn Claessens
language : en
Publisher: World Bank Publications
Release Date : 1996
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by Stijn Claessens and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Debt relief categories.
The Impact Of External Indebtednesson Poverty In Low Income Countries
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Author : Mr.Boileau Loko
language : en
Publisher: International Monetary Fund
Release Date : 2003-03-01
The Impact Of External Indebtednesson Poverty In Low Income Countries written by Mr.Boileau Loko and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-01 with Business & Economics categories.
This paper explores the relationship between external debt and poverty. A number of observers have argued that high external indebtedness is a major cause of poverty. Using the first-differenced general method of moments (GMM) estimator, the paper models the impact of external debt on poverty, measured by life expectancy, infant mortality, and gross primary enrollment rates, while duly taking into account the impact of external debt on income. The paper thus endeavors to bring together the literature that links external debt with income growth and poverty. The main conclusion is that once the effect of income on poverty has been taken into account, external indebtedness indicators have a limited but important impact on poverty.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : S. M. Ravi Kanbur
language : en
Publisher: World Bank Publications
Release Date : 1999
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by S. M. Ravi Kanbur and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
June 1996 A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
The Debt Crisis In Africa
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Author : E. Wayne Nafziger
language : en
Publisher:
Release Date : 1993
The Debt Crisis In Africa written by E. Wayne Nafziger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Since the 1970s, African nations have faced chronic economic stagnation, increased poverty, debt and growing inequality among the classes. This book examines attempts to alleviate these problems by such bodies as the World Bank and the International Monetary Fund (IMF), to name a few.
Capital Flight And External Debt In Nigeria
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Author : Simeon Ibidayo Ajayi
language : en
Publisher:
Release Date : 1995
Capital Flight And External Debt In Nigeria written by Simeon Ibidayo Ajayi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Capital movements categories.
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Author : Ravi Kanbur
language : en
Publisher:
Release Date : 2016
Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries written by Ravi Kanbur and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Capital Flight And Capital Controls In Developing Countries
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Author : Gerald A. Epstein
language : en
Publisher: Edward Elgar Publishing
Release Date : 2005-01-01
Capital Flight And Capital Controls In Developing Countries written by Gerald A. Epstein and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-01 with Business & Economics categories.
Capital flight - the unrecorded export of capital from developing countries - often represents a significant cost for developing countries. It also poses a puzzle for standard economic theory, which would predict that poorer countries be importers of capital due to its scarcity. This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales. Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it. Case studies of Brazil, China, Chile, South Africa, Thailand, Turkey and the Middle East provide rich descriptions of the capital flight phenomena in a variety of contexts. The volume includes a detailed description of capital flight estimation methods, a chapter surveying the impact of financial liberalization, and several chapters on controls designed to solve the capital flight problem. The first book devoted to the careful calculation of capital flight and its historical and policy context, this volume will be of great interest to students and scholars in the areas of international finance and economic development.