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Dynamic Fiscal Impact of The Debt Relief Initiatives on African Highly Indebted Poor Countries (HIPCs)

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dc.contributor.authorCassimon, Danny*
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dc.contributor.authorFerry, Marin*
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dc.contributor.authorRaffinot, Marc*
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dc.contributor.authorVan Campenhout, Bjorn*
dc.date.accessioned2013-01-29T12:19:36Z
dc.date.available2013-01-29T12:19:36Z
dc.date.issued2013-01
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/10905
dc.description.abstractfrAprès deux initiatives de réduction de dette (PPTE I fin 1996 et PPTE II en 1999), le G7 décida d’annuler la totalité de la dette multilatérale (Initiative d’Annulation de la Dette Multilatérale, IADM en 2005). Quelques travaux ont essayé d’évaluer l’impact de ces mesures sur les finances publiques des pays bénéficiaires. Ce travail utilise une base de données plus étendue et des méthodes économétriques alternatives pour tenir compte de l’endogénéïté et des effets fixes. Nous trouvons que les réductions de dette (en particulier l’initiative PPTE II) ont eu un impact positif sur la pression fiscale et sur les investissements publics (en pourcentage du PIB). Grâce à l’extension de la période d’étude, nous observons également que l’IADM a un effet similaire, quoique moins persistent.en
dc.language.isoenen
dc.subjectPPTEen
dc.subjectIADMen
dc.subjectHIPCen
dc.subjectMDRIen
dc.subjectDebt reliefen
dc.subjectFiscal revenueen
dc.subjectPublic investmenten
dc.subjectFiscal responseen
dc.subject.ddc336en
dc.subject.classificationjelH.H2.H20en
dc.subject.classificationjelH.H5.H54en
dc.subject.classificationjelH.H6.H63en
dc.subject.classificationjelO.O5.O55en
dc.subject.classificationjelF.F3.F34en
dc.titleDynamic Fiscal Impact of The Debt Relief Initiatives on African Highly Indebted Poor Countries (HIPCs)en
dc.typeDocument de travail / Working paper
dc.contributor.editoruniversityotherUniversity of Antwerp, Institute of Development Policy and Management (IOB);Belgique
dc.description.abstractenAfter two debt relief initiatives launched in 1996 (the Heavily Indebted Poor Countries, HIPC Initiative) and in 1999 (The enhanced HIPC initiative), the G7 decided to go further by cancelling the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief Initiative (MDRI, 2005). A few papers tried to assess the desired fiscal response effects of those initiatives. This paper uses an extended dataset and alternative econometric techniques in order to tackle methodological issues as endogeneity and fixed effects. We found that debt relief and especially the enhanced HIPC initiative have had a positive impact on the total domestic revenue and the public investment (as percentages of the GDP). Thanks to our large observation span, we also observed that the MDRI led to a significant additional improvement of the level of public investment and domestic revenues ratio, although these effects are smaller than the HIPCs ones.en
dc.publisher.nameIRDen
dc.publisher.cityParisen
dc.identifier.citationpages24en
dc.relation.ispartofseriestitleDIAL Document de travailen
dc.relation.ispartofseriesnumberDT/2013-01en
dc.subject.ddclabelEconomie publiqueen
dc.description.submittednonen
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
hal.identifierhal-01489613*
hal.version1*
hal.update.actionupdateMetadata*
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