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dc.contributor.authorFerry, Marin
dc.contributor.authorRaffinot, Marc
dc.contributor.authorVenet, Baptiste
dc.date.accessioned2021-02-22T11:12:44Z
dc.date.available2021-02-22T11:12:44Z
dc.date.issued2021
dc.identifier.issn0144-8188
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/21606
dc.language.isoenen
dc.subjectDebt reliefen
dc.subjectInternational credit marketsen
dc.subjectSovereign debten
dc.subjectLow-income countriesen
dc.subject.ddc338.9en
dc.subject.classificationjelO.O3.O38en
dc.subject.classificationjelO.O1.O19en
dc.subject.classificationjelF.F3.F35en
dc.subject.classificationjelF.F3.F34en
dc.subject.classificationjelH.H6.H63en
dc.titleDoes debt relief “irresistibly attract banks as honey attracts bees”? Evidence from low-income countries’ debt relief programsen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThe Covid-19 crisis has recently rekindled discussions about debt relief, leading official lenders to grant a moratorium on low-income countries’ external public debt service. Private creditors, which had massively invested in LICs (especially in Africa), have been so far relatively spared. But would they keep lending to these countries if a new wave of debt write-offs were to occur? Building on the two largest debt relief programs for LICs, namely the Heavily Indebted Poor Countries Initiative (HIPC) and the Multilateral Debt Relief Initiative (MDRI), we investigate whether debt relief leads international private creditors to withdraw or to resume lending to beneficiary governments. Using a difference-in-differences approach, our results suggest that debt relief has fostered borrowing from private creditors, and identify the absence of reputational effects and the short-term horizon of private creditors as the key drivers that made renewed access to the credit market possible.en
dc.relation.isversionofjnlnameInternational Review of Law and Economics
dc.relation.isversionofjnlvol66en
dc.relation.isversionofjnlissueJune 2021en
dc.relation.isversionofjnldate2021-06
dc.relation.isversionofjnlpages105978en
dc.relation.isversionofdoi10.1016/j.irle.2021.105978en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelCroissance et développement économiquesen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2021-02-22T10:02:33Z
hal.person.labIds1004415
hal.person.labIds12772$$$559342
hal.person.labIds163511
hal.identifierhal-03148522*


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