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An Agenda for Debt Sustainability in SIDS

In: Debt and Development in Small Island Developing States

Author

Listed:
  • Damien King
  • Michele Robinson

Abstract

According to the theoretical and empirical literature, some amount of debt can be beneficial to developmental outcomes provided that the capital borrowed is productively employed, but high levels of debt tend to be deleterious to such outcomes (Tennant 2014). The now well-established debt overhang hypothesis posits that the growth-inducing benefits of low to moderate levels of external debt are eventually reversed as debt accumulates beyond a certain threshold (Deshpande 1997; Husain 1997). This threshold is theorized to occur when there is a debt overhang—the presence of debt sufficiently large that creditors do not expect with confidence to be fully repaid.

Suggested Citation

  • Damien King & Michele Robinson, 2014. "An Agenda for Debt Sustainability in SIDS," Palgrave Macmillan Books, in: Debt and Development in Small Island Developing States, chapter 0, pages 239-250, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39278-7_11
    DOI: 10.1057/9781137392787_11
    as

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