Domestic Public Debt in Low-Income Countries : Trends and Structure
This paper introduces a new dataset on the stock and structure of domestic debt in 36 Low-Income Countries over the period 1971–2011. We characterize the recent trends regarding LICs domestic public debt and explore the relevance of different arguments put forward on the benefits and costs of govern...
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| Format: | Journal Article |
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Elsevier
2014
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| Online Access: | http://hdl.handle.net/10986/18190 |
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okr-10986-181902021-04-23T14:03:42Z Domestic Public Debt in Low-Income Countries : Trends and Structure Bua, Giovanna Pradelli, Juan Presbitero, Andrea F. domestic debt debt structure low-income countries HIPCs This paper introduces a new dataset on the stock and structure of domestic debt in 36 Low-Income Countries over the period 1971–2011. We characterize the recent trends regarding LICs domestic public debt and explore the relevance of different arguments put forward on the benefits and costs of government borrowing in local public debt markets. The main stylized fact emerging from the data is the increase in domestic government debt since 1996. We also observe that poor countries have been able to increase the share of long-term instruments over time and that the maturity lengthening went together with a decrease in borrowing costs. However, the concentration of the investor base, mainly dominated by commercial banks and the Central Bank, may crowd out lending to the private sector. 2014-05-06T17:40:57Z 2014-05-06T17:40:57Z 2014-04-13 Journal Article Review of Development Finance 1879-9337 10.1016/j.rdf.2014.02.002 http://hdl.handle.net/10986/18190 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Elsevier Publications & Research :: Journal Article |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
domestic debt debt structure low-income countries HIPCs |
| spellingShingle |
domestic debt debt structure low-income countries HIPCs Bua, Giovanna Pradelli, Juan Presbitero, Andrea F. Domestic Public Debt in Low-Income Countries : Trends and Structure |
| description |
This paper introduces a new dataset on the stock and structure of domestic debt in 36 Low-Income Countries over the period 1971–2011. We characterize the recent trends regarding LICs domestic public debt and explore the relevance of different arguments put forward on the benefits and costs of government borrowing in local public debt markets. The main stylized fact emerging from the data is the increase in domestic government debt since 1996. We also observe that poor countries have been able to increase the share of long-term instruments over time and that the maturity lengthening went together with a decrease in borrowing costs. However, the concentration of the investor base, mainly dominated by commercial banks and the Central Bank, may crowd out lending to the private sector. |
| format |
Journal Article |
| author |
Bua, Giovanna Pradelli, Juan Presbitero, Andrea F. |
| author_facet |
Bua, Giovanna Pradelli, Juan Presbitero, Andrea F. |
| author_sort |
Bua, Giovanna |
| title |
Domestic Public Debt in Low-Income Countries : Trends and Structure |
| title_short |
Domestic Public Debt in Low-Income Countries : Trends and Structure |
| title_full |
Domestic Public Debt in Low-Income Countries : Trends and Structure |
| title_fullStr |
Domestic Public Debt in Low-Income Countries : Trends and Structure |
| title_full_unstemmed |
Domestic Public Debt in Low-Income Countries : Trends and Structure |
| title_sort |
domestic public debt in low-income countries : trends and structure |
| publisher |
Elsevier |
| publishDate |
2014 |
| url |
http://hdl.handle.net/10986/18190 |
| _version_ |
1764439416976179200 |