External Debt, Public Investment, and Growth in Low-Income Countries

2003 ◽  
Vol 03 (249) ◽  
pp. 1 ◽  
Author(s):  
Toan Quoc Nguyen ◽  
Benedict J. Clements ◽  
Rina Bhattacharya ◽  
◽  
◽  
...  
Keyword(s):  
Low Income ◽  
Public Investment ◽  
External Debt ◽  
Low Income Countries

scholarly journals External Debt, Public Investment, and Growth in Low-Income Countries

2003 ◽  
Author(s):  
Benedict Clements ◽  
Rina Bhattacharya ◽  
Toan Quoc Nguyen
Keyword(s):  
Low Income ◽  
Public Investment ◽  
External Debt ◽  
Low Income Countries

Modeling African Economies

2015 ◽  
pp. 369-392
Author(s):  
Andrew Berg ◽  
Shu-Chun S. Yang ◽  
Luis-Felipe Zanna
Keyword(s):  
Low Income ◽  
Capital Mobility ◽  
Public Investment ◽  
Large Population ◽  
Balance Sheet ◽  
Low Income Countries ◽  
International Capital Mobility ◽  
Fiscal Multipliers ◽  
Balance Sheet Effects ◽  
Dynamic Stochastic

This chapter presents a stylized framework for modeling African economies using the dynamic stochastic general equilibrium (DSGE) approach. We introduce several features relevant to low-income countries, including a large population without access to financial markets, restricted international capital mobility, low governance quality, and explicit central bank balance-sheet effects. The calibrated model can be useful in addressing important macroeconomic policy issues in many African economies. The applications presented here include (i) reserve accumulation policy responses to aid surges, (ii) government spending, financing schemes, and fiscal multipliers, (iii) management of natural resource revenues, and (iv) public investment surges and debt sustainability.

Borrowing for Growth: Big Pushes and Debt Sustainability in Low-Income Countries

2019 ◽  
Author(s):  
Luis-Felipe Zanna ◽  
Edward F Buffie ◽  
Rafael Portillo ◽  
Andrew Berg ◽  
Catherine Pattillo
Keyword(s):  
Low Income ◽  
Public Investment ◽  
Low Income Countries ◽  
Debt Contracts ◽  
Debt Sustainability ◽  
Fiscal Adjustment ◽  
Domestic Debt ◽  
Big Push ◽  
The Impact ◽  
New Framework

AbstractThe paper evaluates big push borrowing-and-investment programs in a new model-based framework of debt sustainability that is explicitly designed for policy analysis. The new framework is grounded in a fully-articulated, dynamic macroeconomic model. It allows for financing schemes that mix concessional, external commercial, and domestic debt, while taking into account the impact of public investment on growth and constraints on the speed and magnitude of fiscal adjustment. Supplementing concessional loans with nonconcessional borrowing in world capital markets is generally a high-risk, high-return strategy. It may greatly enhance the prospects for debt sustainability or lead to spectacular failure; much depends on the fine details governing debt contracts, the dynamics of growth, and the speed of fiscal adjustment.

Multilateral governance will advance despite obstacles

2018 ◽  
Keyword(s):  
Low Income ◽  
Public Investment ◽  
Low Income Countries ◽  
System Reform ◽  
Government Ownership ◽  
Middle Income ◽  
Content Type ◽  
The World ◽  
Host Government ◽  
Risk Insurance

Subject Reforming the multilateral development banks. Significance The multilateral development bank (MDB) system has resisted pressure on the international order from US nationalism, but the multiplication of MDBs has considerably reduced their collective effectiveness. This fragmentation is preventing them from adapting to global challenges and harnessing private capital for development. The World Bank spring meeting will consider the proposals that the G20 is exploring. Most do not entail institutional change, but others could pave the way for significant reforms. Impacts The ongoing debate about the World Bank’s need for a capital increase will be peripheral to the larger discussion on MDB system reform. If implemented, a cross-MDB risk insurance platform would create a one-stop shop for investors and opportunities for private reinsurers. System-wide securitisation would create new asset classes and expand opportunities for institutional investors. In-country MDB coordination platforms would boost host government ownership of projects in middle-income and stable low-income countries. Estimates suggest that one dollar of capital paid into MDBs can translate into 50 dollars of public investment if allocated effectively.

scholarly journals External Debt Management in Low-Income Countries

2000 ◽  
Vol 00 (196) ◽  
pp. 1 ◽  
Author(s):  
Sheku Bangura ◽  
Robert Powell ◽  
Damoni N. Kitabire ◽  
◽  
◽  
...  
Keyword(s):  
Low Income ◽  
External Debt ◽  
Debt Management ◽  
Low Income Countries

scholarly journals Belonging home: capabilities, belonging and mental health recovery in low resourced settings

2020 ◽  
Author(s):  
David Cappo ◽  
Brian Mutamba ◽  
Fiona Verity
Keyword(s):  
Mental Health ◽  
Low Income ◽  
Public Investment ◽  
Evidence Base ◽  
Capabilities Approach ◽  
Low Income Countries ◽  
Health Issues ◽  
Intervention Protocol ◽  
Balanced Model ◽  
Hospital To Home

Abstract There are significant barriers to the development of a ‘balanced model’ of mental health in low-income countries. These include gaps in the evidence base on effective responses to severe mental health issues and what works in the transition from hospital to home, and a low public investment in primary and community care. These limitations were the drivers for the formation of the non-government organization, YouBelong Uganda (YBU), which works to contribute to the implementation of a community-based model of mental health care in Uganda. This paper overviews an intervention protocol developed by YBU, which is a combined model of parallel engagement with the national mental hospital in Kampala, Uganda, movement of ‘ready for discharge’ patients back to their families and communities, and community development. The YBU programme is theoretically underpinned by a capabilities approach together with practical application of a concept of ‘belonging’. It is an experiment in implementation with hopes that it may be a positive step towards the development of an effective model in Uganda, which may be applicable in other countries. Finally, we discuss the value in joining ideas from social work, sociology, philosophy, public health and psychiatry into a community mental health ‘belonging framework’.

Review of the Debt Sustainability Framework for Low Income Countries

Policy Papers ◽  
2017 ◽  
Vol 17 ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Stress Test ◽  
External Debt ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
Debt Burden ◽  
The Core ◽  
Sustainability Framework ◽  
Test Scenarios ◽  
Capacity Estimates

The Debt Sustainability Framework for Low-income Countries (LIC DSF) has been the cornerstone of assessments of risks to debt sustainability in LICs. The framework classifies countries based on their assessed debt-carrying capacity, estimates threshold levels for selected debt burden indicators, evaluates baseline projections and stress test scenarios relative to these thresholds, and then combines indicative rules and staff judgment to assign risk ratings of external debt distress. The framework has demonstrated its operational value since the last review was conducted in 2012, but there are areas where new features can be introduced to enhance its performance in assessing risks. Against the backdrop of the evolving nature of risks facing LICs, both staff analysis and stakeholder feedback suggest gaps in the framework to be addressed. Complexity and lack of transparency have also been highlighted as causes for concern. This paper proposes a set of reforms to enhance the value of the LIC DSF for all users. In developing these reforms, staff has been guided by two over-arching principles: a) the core architecture of the DSF—model-based results complemented by judgment—remains appropriate; and b) reforms should ensure that the DSF maintains an appropriate balance by providing countries with early warnings of potential debt distress without unnecessarily constraining their borrowing for development.

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