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| Author: | Hofman, B. Reisen, H. |
| Title: | Some evidence on debt-related determinants of investment and consumption in heavily indebted countries. |
| Journal: | Weltwirtschaftliches Archiv
1991 : VOL. 127:2, p. 281-299 |
| Index terms: | DEVELOPING COUNTRIES INVESTMENT FOREIGN DEBTS |
| Language: | eng |
| Abstract: | An IMF study (World Economic Outlook 1989) concluded that debt overhang plays a large part in explaining the slump in investment in problem debtor countries. The IMF analysis does not consider other determinants of investment and savings besides debt levels. The article specifies and tests conventional investment and consumption functions in order to contrast the debt overhang proposition with competing explanations for investment and consumption behaviour. |
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