Curse or Blessing? Has the Impact of Debt Relief Lived up to Expectations? A Review of the Effects of the Multilateral Debt Relief Initiatives for Low-Income Countries

As the multilateral debt relief initiatives draw to a close, this article reviews the impacts of debt relief to low-income countries (LICs) building on both the theoretical and empirical literature of past decades. We show that, while the pioneering studies of the early 2000s are inconclusive, the m...

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Bibliographic Details
Published in:	The Journal of development studies Vol. 55; no. 9; pp. 1867 - 1891
Main Authors:	Ferry, Marin, Raffinot, Marc
Format:	Journal Article
Language:	English
Published:	Abingdon Routledge 02-09-2019 Taylor & Francis Ltd Taylor & Francis (Routledge)
Subjects:	Debt cancellation Developing countries Economics and Finance External debt Humanities and Social Sciences LDCs Low income groups
Online Access:	Get full text
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Summary:	As the multilateral debt relief initiatives draw to a close, this article reviews the impacts of debt relief to low-income countries (LICs) building on both the theoretical and empirical literature of past decades. We show that, while the pioneering studies of the early 2000s are inconclusive, the most recent analyses overcome certain methodological impediments to highlight significant multilateral debt relief initiative effects. These analyses hence suggest that these large-scale programmes may well have met expectations, at least in part.
ISSN:	0022-0388 1743-9140
DOI:	10.1080/00220388.2018.1499895