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The Overhang Hangover

The authors revisit the debt overhang question. They first use nonparametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer Curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial) debt...

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Bibliographic Details
Main Authors: Imbs, Jean, Ranciere, Romain
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ACCOUNTING
BORROWING
BUSINESS CYCLES
CAPITAL ACCUMULATION
CAPITAL FLIGHT
CONTRACTUAL ARRANGEMENTS
CREDITOR
CREDITORS
CROWDING OUT
DEBT
DEBT CONTRACTS
DEBT FINANCING
DEBT LEVEL
DEBT OVERHANG
DEBT RELIEF
DEBT REPUDIATION
DEBT RESCHEDULING
DEBT SERVICE
DEBT SUSTAINABILITY
DEBTORS
DISCOUNT RATES
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC OUTLOOK
ECONOMIC PROGRESS
EMPIRICAL EVIDENCE
EXPECTED PRESENT VALUE
EXPORTS
EXTERNAL DEBT
FACE VALUE
FINANCIAL MARKETS
FOREIGN BORROWING
FREE RIDER
FREE RIDER PROBLEM
FUNCTIONAL FORMS
GDP
GLOBAL INTEREST
GOVERNMENT EXPENDITURES
GROWTH RATE
INCOME
INCOME LEVELS
INEFFICIENCY
INFLATION
INTEREST RATE
INTEREST RATES
LAFFER CURVE
MACROECONOMIC POLICY
MACROECONOMICS
MONITORING TECHNOLOGY
MORAL HAZARD
OUTSTANDING DEBT
POLITICAL ECONOMY
POPULATION GROWTH
PRESENT VALUE OF DEBT
PRICE STABILITY
PROPERTY RIGHTS
PUBLIC DEBT
REPAYMENT
RISK MANAGEMENT
TERMS OF TRADE
TRADE SHOCKS
VALUATION
Online Access:http://documents.worldbank.org/curated/en/2005/08/6133217/overhang-hangover
http://hdl.handle.net/10986/8631

Internet

http://documents.worldbank.org/curated/en/2005/08/6133217/overhang-hangover
http://hdl.handle.net/10986/8631

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