IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2009-217.html
   My bibliography  Save this paper

Access to Market Financing for IDA-eligible Countries—the Role of External Debt and IMF-Supported Programs

Author

Listed:
  • Mr. Alun H. Thomas

Abstract

Exclusion restrictions used to identify demand and supply relationships for market financing among IDA recipients (past and present) show that poor credit ratings and high political instability adversely impact the supply of market finance. While the adverse effects of external debt on market access occur at very high levels for IDA-eligible countries, the sizeable debt relief provided in the context of the enhanced HIPC Initiative has significantly raised the likelihood of market access for these countries. For countries that have graduated from IDA financing, the length of country spells in IMF-supported programs raises the likelihood of market access, although this effect is absent for IDA-eligible countries.

Suggested Citation

  • Mr. Alun H. Thomas, 2009. "Access to Market Financing for IDA-eligible Countries—the Role of External Debt and IMF-Supported Programs," IMF Working Papers 2009/217, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2009/217
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=23324
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chuku Chuku & Mustafa Yasin Yenice, 2021. "Working Paper 356 - Eurobonds, debt sustainability and macroeconomic performance in Africa: Synthetic controlled experiments," Working Paper Series 2482, African Development Bank.
    2. Mijiyawa, Abdoul’ Ganiou, 2024. "Does private share of public external debt support economic growth in developing countries?," International Economics, Elsevier, vol. 178(C).
    3. Mr. Andrea F Presbitero & Mr. Dhaneshwar Ghura & Mr. Olumuyiwa S Adedeji & Lamin Njie, 2015. "International Sovereign Bonds by Emerging Markets and Developing Economies: Drivers of Issuance and Spreads," IMF Working Papers 2015/275, International Monetary Fund.
    4. Abdoul' Ganiou Mijiyawa, 2022. "External debt in developing countries since HIPC and MDRI: What are the driving factors?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1683-1699, April.
    5. Rune Hagen, 2012. "Certified or branded?," The Review of International Organizations, Springer, vol. 7(2), pages 203-230, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2009/217. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.