How Did Highly Indebted Poor Countries Become Highly Indebted?: Reviewing Two Decades of Debt Relief
William Russell Easterly
Jan 1999 · World Bank Publications
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39
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About this ebook
Theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief by running up new debts or by running down assets. And there are some signs that incremental debt relief over the past two decades has fulfilled those predictions. Debt relief is futile for countries with unchanged long-run savings preferences.
Theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief by running up new debts or by running down assets. And there are some signs that incremental debt relief over the past two decades has fulfilled those predictions. Debt relief is futi...
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