Description |
1 online resource (25 pages) : color illustrations |
Series |
IMF working paper ; WP/14/102 |
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IMF working paper ; WP/14/102
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Summary |
We analyse the debt dynamics in countries that benefited from the HIPC/MDRI debt relief initiatives with a view to applying a probabilistic approach to estimating future debt paths for those countries. We extend the probabilistic approach to public debt sustainability analysis (DSA) proposed by Celasun et al. (2006). This required addressing the twin challenges of a the time period that is too short to conduct country-by-country estimations and the presence, suggested by econometric evidence, of a break?point around 2006 in the dynamics of debt accumulation. To overcome the data limitations, |
Notes |
"Finance Department"--Page 2 of pdf |
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"June 2014"--Page 2 of pdf |
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"We analyse the debt dynamics in countries that benefited from the HIPC/MDRI debt relief initiatives with a view to applying a probabilistic approach to estimating future debt paths for those countries. We extend the probabilistic approach to public debt sustainability analysis (DSA) proposed by Celasun et al. (2006). This required addressing the twin challenges of a the time period that is too short to conduct country-by-country estimations and the presence, suggested by econometric evidence, of a break-point around 2006 in the dynamics of debt accumulation. To overcome the data limitations, we pool the data and estimate a panel VAR, thus taking advantage of the large cross-section. To account for the break-point, while applying a probabilistic approach to forecasting debt paths, we use the post-break-point information so as not to bias the forecasts of debt paths. As an illustration of the approach we apply the methodology to eight countries with different debt profiles"--Abstract |
Bibliography |
Includes bibliographical references |
Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed June 23, 2014) |
Subject |
Heavily Indebted Poor Countries Initiative.
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Debt relief -- Developing countries.
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Debt -- Developing countries.
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Form |
Electronic book
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Author |
Geiregat, Chris R. A.
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Sumlinski, Mariusz A.
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International Monetary Fund. Finance Department.
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ISBN |
1498310028 |
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9781498310024 |
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