Policy Selectivity Forgone: Debt and Donor Behavior in Africa

Authors assess the dynamics behind the high net resource transfers by donors and creditors to Sub-Saharan African countries. Analyzing the determinants of overall net transfers for a panel of 37 recipient countries in 1978-98, Authors find that cou...

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Main Authors:	Birdsall, Nancy, Claessens, Stijn, Diwan, Ishac
Format:	Journal Article
Language:	English en_US
Published:	Washington, DC: World Bank 2014
Subjects:	ACCUMULATION OF DEBT ACTUAL DEBT AID EFFECTIVENESS ARREARS BANK POLICY BILATERAL DONORS BORROWING BUDGET SURPLUS CLAIM CLASS OF CREDITOR CLASSES OF CREDITORS COMMERCIAL CREDITOR COMMERCIAL CREDITORS COMMERCIAL DEBT CREDITOR CREDITOR BEHAVIOR CREDITOR CLASS CREDITORS CREDITWORTHINESS DEBT DEBT ACCUMULATION DEBT BUILDUP DEBT BURDEN DEBT BURDENS DEBT CATEGORIES DEBT CATEGORY DEBT CLASSIFICATION DEBT CLASSIFICATIONS DEBT COMPOSITION DEBT DATA DEBT DISBURSEMENTS DEBT FORGIVENESS DEBT LEVELS DEBT OVERHANG DEBT PROBLEM DEBT PROBLEMS DEBT REDUCTION DEBT REDUCTION PROGRAM DEBT RELIEF DEBT RESCHEDULING DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE RELIEF DEBT SERVICING DEBT STOCK DEBT STOCK VARIABLE DEBT STOCKS DEBT TRAP DEBTOR DEBTOR CLASSES DEBTORS DEBTS DEFAULTS DEFICITS DEPENDENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENTS DONOR RESOURCES DUMMY VARIABLE DUMMY VARIABLES ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORM EQUAL AMOUNT EXISTING DEBT EXTERNAL DEBT FACE VALUE FACE VALUE OF DEBT FINANCIAL LIBERALIZATION FISCAL DEFICITS FOREIGN AID FUTURE DEBT GLOBAL DEVELOPMENT FINANCE GRANT PROGRAMS GROSS DOMESTIC PRODUCT HIGH DEBT HIGH DEBTS HIGHLY INDEBTED COUNTRIES INCOME SHOCKS INDEBTED INDEBTED COUNTRIES INDEBTED POOR COUNTRIES INDEBTEDNESS INFLATION INSTITUTIONAL CAPACITY INSTITUTIONAL ENVIRONMENT INSTITUTIONAL ENVIRONMENTS INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INVESTMENT BANK JUDGMENT LEVELS OF DEBT LEVERAGE LOW DEBT MACRO-IMBALANCES MISREPORTING MONETARY FUND MULTILATERAL CREDITORS MULTILATERAL DEBT MULTILATERAL DEBTS OLD DEBT OUTSTANDING STOCK POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO POSITIVE COEFFICIENT POSITIVE COEFFICIENTS PRESENT VALUE PRESENT VALUE OF DEBT PRINCIPAL REPAYMENT PRIVATE CREDITORS PRIVATIZATION PUBLIC POLICY RECIPIENT COUNTRIES RECIPIENT COUNTRY REPAYMENTS RETURN RULE OF LAW SOVEREIGN DEBT STOCK OF DEBT TAX TAX REVENUES TOTAL DEBT TOTAL DEBT STOCK
Online Access:	http://documents.worldbank.org/curated/en/2003/09/17742575/policy-selectivity-forgone-debt-donor-behavior-africa http://hdl.handle.net/10986/17182

id	okr-10986-17182
recordtype	oai_dc
spelling	okr-10986-171822021-04-23T14:03:29Z Policy Selectivity Forgone: Debt and Donor Behavior in Africa Birdsall, Nancy Claessens, Stijn Diwan, Ishac ACCUMULATION OF DEBT ACTUAL DEBT AID EFFECTIVENESS ARREARS BANK POLICY BILATERAL DONORS BORROWING BUDGET SURPLUS CLAIM CLASS OF CREDITOR CLASSES OF CREDITORS COMMERCIAL CREDITOR COMMERCIAL CREDITORS COMMERCIAL DEBT CREDITOR CREDITOR BEHAVIOR CREDITOR CLASS CREDITORS CREDITWORTHINESS DEBT DEBT ACCUMULATION DEBT BUILDUP DEBT BURDEN DEBT BURDENS DEBT CATEGORIES DEBT CATEGORY DEBT CLASSIFICATION DEBT CLASSIFICATIONS DEBT COMPOSITION DEBT DATA DEBT DISBURSEMENTS DEBT FORGIVENESS DEBT LEVELS DEBT OVERHANG DEBT PROBLEM DEBT PROBLEMS DEBT REDUCTION DEBT REDUCTION PROGRAM DEBT RELIEF DEBT RESCHEDULING DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE RELIEF DEBT SERVICING DEBT STOCK DEBT STOCK VARIABLE DEBT STOCKS DEBT TRAP DEBTOR DEBTOR CLASSES DEBTORS DEBTS DEFAULTS DEFICITS DEPENDENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENTS DONOR RESOURCES DUMMY VARIABLE DUMMY VARIABLES ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORM EQUAL AMOUNT EXISTING DEBT EXTERNAL DEBT FACE VALUE FACE VALUE OF DEBT FINANCIAL LIBERALIZATION FISCAL DEFICITS FOREIGN AID FUTURE DEBT GLOBAL DEVELOPMENT FINANCE GRANT PROGRAMS GROSS DOMESTIC PRODUCT HIGH DEBT HIGH DEBTS HIGHLY INDEBTED COUNTRIES INCOME SHOCKS INDEBTED INDEBTED COUNTRIES INDEBTED POOR COUNTRIES INDEBTEDNESS INFLATION INSTITUTIONAL CAPACITY INSTITUTIONAL ENVIRONMENT INSTITUTIONAL ENVIRONMENTS INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INVESTMENT BANK JUDGMENT LEVELS OF DEBT LEVERAGE LOW DEBT MACRO-IMBALANCES MISREPORTING MONETARY FUND MULTILATERAL CREDITORS MULTILATERAL DEBT MULTILATERAL DEBTS OLD DEBT OUTSTANDING STOCK POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO POSITIVE COEFFICIENT POSITIVE COEFFICIENTS PRESENT VALUE PRESENT VALUE OF DEBT PRINCIPAL REPAYMENT PRIVATE CREDITORS PRIVATIZATION PUBLIC POLICY RECIPIENT COUNTRIES RECIPIENT COUNTRY REPAYMENTS RETURN RULE OF LAW SOVEREIGN DEBT STOCK OF DEBT TAX TAX REVENUES TOTAL DEBT TOTAL DEBT STOCK Authors assess the dynamics behind the high net resource transfers by donors and creditors to Sub-Saharan African countries. Analyzing the determinants of overall net transfers for a panel of 37 recipient countries in 1978-98, Authors find that country policies mattered little. Donors especially bilateral donors actually made greater transfers to countries with high debt, largely owed to multilateral creditors, when policies were 'bad'. Authors conclude that comprehensive debt relief has the potential, though not the certainty, to restore selectivity in support of good policies. That would make development assistance more effective going forward and increase public support in donor countries. 2014-02-26T20:16:58Z 2014-02-26T20:16:58Z 2003-09 Journal Article http://documents.worldbank.org/curated/en/2003/09/17742575/policy-selectivity-forgone-debt-donor-behavior-africa World Bank Economic Review http://hdl.handle.net/10986/17182 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Journal Article Publications & Research Africa Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCUMULATION OF DEBT ACTUAL DEBT AID EFFECTIVENESS ARREARS BANK POLICY BILATERAL DONORS BORROWING BUDGET SURPLUS CLAIM CLASS OF CREDITOR CLASSES OF CREDITORS COMMERCIAL CREDITOR COMMERCIAL CREDITORS COMMERCIAL DEBT CREDITOR CREDITOR BEHAVIOR CREDITOR CLASS CREDITORS CREDITWORTHINESS DEBT DEBT ACCUMULATION DEBT BUILDUP DEBT BURDEN DEBT BURDENS DEBT CATEGORIES DEBT CATEGORY DEBT CLASSIFICATION DEBT CLASSIFICATIONS DEBT COMPOSITION DEBT DATA DEBT DISBURSEMENTS DEBT FORGIVENESS DEBT LEVELS DEBT OVERHANG DEBT PROBLEM DEBT PROBLEMS DEBT REDUCTION DEBT REDUCTION PROGRAM DEBT RELIEF DEBT RESCHEDULING DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE RELIEF DEBT SERVICING DEBT STOCK DEBT STOCK VARIABLE DEBT STOCKS DEBT TRAP DEBTOR DEBTOR CLASSES DEBTORS DEBTS DEFAULTS DEFICITS DEPENDENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENTS DONOR RESOURCES DUMMY VARIABLE DUMMY VARIABLES ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORM EQUAL AMOUNT EXISTING DEBT EXTERNAL DEBT FACE VALUE FACE VALUE OF DEBT FINANCIAL LIBERALIZATION FISCAL DEFICITS FOREIGN AID FUTURE DEBT GLOBAL DEVELOPMENT FINANCE GRANT PROGRAMS GROSS DOMESTIC PRODUCT HIGH DEBT HIGH DEBTS HIGHLY INDEBTED COUNTRIES INCOME SHOCKS INDEBTED INDEBTED COUNTRIES INDEBTED POOR COUNTRIES INDEBTEDNESS INFLATION INSTITUTIONAL CAPACITY INSTITUTIONAL ENVIRONMENT INSTITUTIONAL ENVIRONMENTS INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INVESTMENT BANK JUDGMENT LEVELS OF DEBT LEVERAGE LOW DEBT MACRO-IMBALANCES MISREPORTING MONETARY FUND MULTILATERAL CREDITORS MULTILATERAL DEBT MULTILATERAL DEBTS OLD DEBT OUTSTANDING STOCK POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO POSITIVE COEFFICIENT POSITIVE COEFFICIENTS PRESENT VALUE PRESENT VALUE OF DEBT PRINCIPAL REPAYMENT PRIVATE CREDITORS PRIVATIZATION PUBLIC POLICY RECIPIENT COUNTRIES RECIPIENT COUNTRY REPAYMENTS RETURN RULE OF LAW SOVEREIGN DEBT STOCK OF DEBT TAX TAX REVENUES TOTAL DEBT TOTAL DEBT STOCK
spellingShingle	ACCUMULATION OF DEBT ACTUAL DEBT AID EFFECTIVENESS ARREARS BANK POLICY BILATERAL DONORS BORROWING BUDGET SURPLUS CLAIM CLASS OF CREDITOR CLASSES OF CREDITORS COMMERCIAL CREDITOR COMMERCIAL CREDITORS COMMERCIAL DEBT CREDITOR CREDITOR BEHAVIOR CREDITOR CLASS CREDITORS CREDITWORTHINESS DEBT DEBT ACCUMULATION DEBT BUILDUP DEBT BURDEN DEBT BURDENS DEBT CATEGORIES DEBT CATEGORY DEBT CLASSIFICATION DEBT CLASSIFICATIONS DEBT COMPOSITION DEBT DATA DEBT DISBURSEMENTS DEBT FORGIVENESS DEBT LEVELS DEBT OVERHANG DEBT PROBLEM DEBT PROBLEMS DEBT REDUCTION DEBT REDUCTION PROGRAM DEBT RELIEF DEBT RESCHEDULING DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE RELIEF DEBT SERVICING DEBT STOCK DEBT STOCK VARIABLE DEBT STOCKS DEBT TRAP DEBTOR DEBTOR CLASSES DEBTORS DEBTS DEFAULTS DEFICITS DEPENDENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DISBURSEMENTS DONOR RESOURCES DUMMY VARIABLE DUMMY VARIABLES ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORM EQUAL AMOUNT EXISTING DEBT EXTERNAL DEBT FACE VALUE FACE VALUE OF DEBT FINANCIAL LIBERALIZATION FISCAL DEFICITS FOREIGN AID FUTURE DEBT GLOBAL DEVELOPMENT FINANCE GRANT PROGRAMS GROSS DOMESTIC PRODUCT HIGH DEBT HIGH DEBTS HIGHLY INDEBTED COUNTRIES INCOME SHOCKS INDEBTED INDEBTED COUNTRIES INDEBTED POOR COUNTRIES INDEBTEDNESS INFLATION INSTITUTIONAL CAPACITY INSTITUTIONAL ENVIRONMENT INSTITUTIONAL ENVIRONMENTS INTEREST PAYMENT INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INVESTMENT BANK JUDGMENT LEVELS OF DEBT LEVERAGE LOW DEBT MACRO-IMBALANCES MISREPORTING MONETARY FUND MULTILATERAL CREDITORS MULTILATERAL DEBT MULTILATERAL DEBTS OLD DEBT OUTSTANDING STOCK POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO POSITIVE COEFFICIENT POSITIVE COEFFICIENTS PRESENT VALUE PRESENT VALUE OF DEBT PRINCIPAL REPAYMENT PRIVATE CREDITORS PRIVATIZATION PUBLIC POLICY RECIPIENT COUNTRIES RECIPIENT COUNTRY REPAYMENTS RETURN RULE OF LAW SOVEREIGN DEBT STOCK OF DEBT TAX TAX REVENUES TOTAL DEBT TOTAL DEBT STOCK Birdsall, Nancy Claessens, Stijn Diwan, Ishac Policy Selectivity Forgone: Debt and Donor Behavior in Africa
geographic_facet	Africa Africa
description	Authors assess the dynamics behind the high net resource transfers by donors and creditors to Sub-Saharan African countries. Analyzing the determinants of overall net transfers for a panel of 37 recipient countries in 1978-98, Authors find that country policies mattered little. Donors especially bilateral donors actually made greater transfers to countries with high debt, largely owed to multilateral creditors, when policies were 'bad'. Authors conclude that comprehensive debt relief has the potential, though not the certainty, to restore selectivity in support of good policies. That would make development assistance more effective going forward and increase public support in donor countries.
format	Journal Article
author	Birdsall, Nancy Claessens, Stijn Diwan, Ishac
author_facet	Birdsall, Nancy Claessens, Stijn Diwan, Ishac
author_sort	Birdsall, Nancy
title	Policy Selectivity Forgone: Debt and Donor Behavior in Africa
title_short	Policy Selectivity Forgone: Debt and Donor Behavior in Africa
title_full	Policy Selectivity Forgone: Debt and Donor Behavior in Africa
title_fullStr	Policy Selectivity Forgone: Debt and Donor Behavior in Africa
title_full_unstemmed	Policy Selectivity Forgone: Debt and Donor Behavior in Africa
title_sort	policy selectivity forgone: debt and donor behavior in africa
publisher	Washington, DC: World Bank
publishDate	2014
url	http://documents.worldbank.org/curated/en/2003/09/17742575/policy-selectivity-forgone-debt-donor-behavior-africa http://hdl.handle.net/10986/17182
_version_	1764433241651019776

Policy Selectivity Forgone: Debt and Donor Behavior in Africa

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