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Boniface P Yemba and Inoussa Boubacar
''On the Merit of Debt Relief Programs in Heavily Indebted Poor Countries''
( 2018, Vol. 38 No.2 )
Although the HIPC Initiative is nearly complete, its merit is still being debated among policymakers as well as academicians. Debt relief under the Initiative was intended to help beneficiary countries achieve the Millennium Development (MDG) goals. Using four key indicators of development, this paper assesses the impact of HIPC Initiative on countries that achieved the completion point. Our results, based on dynamic panel model estimations provide supporting evidence indicating the failure of the Initiative to produce the expected outcome.
Keywords: Debt Relief, External Debt, Heavily Indebted Poor Countries Initiative
JEL: F2 - International Factor Movements and International Business: General
H5 - National Government Expenditures and Related Policies National Government Expenditures and Related Policies: General
Manuscript Received : Mar 17 2018 Manuscript Accepted : May 12 2018

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