How did highly indebted poor countries become highly indebted after two decades of debt relief efforts? A set of theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief with a mixture of asset decumulation and new borrowing. A model also predicts that a high-discount-rate government will choose poor policies and impose its inter-temporal preferences on the entire economy. Reviewing the experience...
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1999/11/30
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Documento de trabalho sobre pesquisa de políticas
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WPS2225
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1
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1
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2010/07/01
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How did highly indebted poor countries become highly indebted? : reviewing two decades of debt relief
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debt relief
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