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Explaining the Enhanced HIPC Initiative: A Response to Michaelowa (2003)

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  • Peter Hjertholm

Abstract

Michaelowa (2003, 2002) proposes a political-economy model to explain the re-design of the Heavily Indebted Poor Country (HIPC) debt reliefinitiative in 1999. The principal assumption justifying the adoption of thisalternative approach is an alleged paucity, if not non-existence, of applied economic research on sustainable debt levels. This note challenges that assumption. Copyright Kluwer Academic Publishers 2004

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  • Peter Hjertholm, 2004. "Explaining the Enhanced HIPC Initiative: A Response to Michaelowa (2003)," Public Choice, Springer, vol. 121(3), pages 481-483, February.
    • Handle: RePEc:kap:pubcho:v:121:y:2004:i:3:p:481-483
    DOI: 10.1007/s11127-004-3285-3
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    1. Catherine Pattillo & Hélène Poirson & Luca Antonio Ricci, 2011. "External Debt and Growth," Review of Economics and Institutions, Università di Perugia, vol. 2(3).
    2. Michaelowa, Katharina, 2003. "The Political Economy of the Enhanced HIPC-Initiative," Public Choice, Springer, vol. 114(3-4), pages 461-476, March.
    3. Daniel Cohen (ed.), 1998. "Contemporary Economic Issues," International Economic Association Series, Palgrave Macmillan, number 978-1-349-26084-3, December.
    4. Daniel Cohen, 1998. "The Sustainability of African Debt," International Economic Association Series, in: Daniel Cohen (ed.), Contemporary Economic Issues, chapter 7, pages 160-181, Palgrave Macmillan.
    5. Peter Hjertholm, 2003. "Theoretical and empirical foundations of HIPC debt sustainability targets," Journal of Development Studies, Taylor & Francis Journals, vol. 39(6), pages 67-100.
    6. Madhur Gautam, 2003. "Debt Relief for the Poorest : An OED Review of the HIPC Initiative," World Bank Publications - Books, The World Bank Group, number 15164.
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