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Africa: Out of debt, into fiscal space? Dynamic Fiscal Impact of the Debt Relief Initiatives on African Heavily Indebted Poor Countries (HIPCs)

hal.structure.identifier
dc.contributor.authorCassimon, Danny*
hal.structure.identifierInternational Food Policy Research Institute [Washington] [IFPRI]
dc.contributor.authorVan Campenhout, Bjorn*
hal.structure.identifier
dc.contributor.authorFerry, Marin*
hal.structure.identifier
dc.contributor.authorRaffinot, Marc*
dc.date.accessioned2015-05-06T13:59:00Z
dc.date.available2015-05-06T13:59:00Z
dc.date.issued2015
dc.identifier.issn2110-7017
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/15028
dc.language.isoenen
dc.subjectDebt relief
dc.subjectPublic investment
dc.subjectFiscal response
dc.subjectHIPC
dc.subjectMDRI
dc.subjectFiscal revenue
dc.subject.ddc338.9en
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.titleAfrica: Out of debt, into fiscal space? Dynamic Fiscal Impact of the Debt Relief Initiatives on African Heavily Indebted Poor Countries (HIPCs)
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherUniversity of Antwerp, Institute of Development Policy and Management (IOB);Pays-Bas
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 (most of) the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief Initiative (MDRI, 2005). Building on earlier literature that tries to assess the fiscal response effects of HIPC debt relief, we extend this assessment by explicitly including the fiscal response effects of MDRI debt relief, and by using an extended dataset and alternative econometric techniques, in order to have sufficient hindsight and better tackle methodological issues such as country specific effects. We confirm earlier findings that debt relief, and especially the enhanced HIPC initiative, has had a positive impact on recipient country total domestic revenue and public investment (as percentage of GDP). Additionally, thanks to our large observation span, we also observe that the MDRI led to a significant increase in current primary expenditures and domestic revenue ratios, although these effects are on average smaller than the HIPC Initiative ones.
dc.relation.isversionofjnlnameInternational Economics
dc.relation.isversionofjnlvol144
dc.relation.isversionofjnldate2015
dc.relation.isversionofjnlpages29-52
dc.relation.isversionofdoi10.1016/j.inteco.2015.04.007
dc.relation.isversionofjnlpublisherLa Documentation française
dc.subject.ddclabelCroissance et développement économiquesen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintouien
dc.description.ssrncandidatenon
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
dc.relation.Isversionofjnlpeerreviewedoui
dc.relation.Isversionofjnlpeerreviewedoui
dc.date.updated2016-10-21T14:33:38Z
hal.identifierhal-01489473*
hal.version1*
hal.update.actionupdateMetadata*
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