 | Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link Author/Editor: Tito Cordella, Luca Antonio Ricci, Marta Ruiz-Arranz. Release Date:December, 2005 Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth more...
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| Grants Versus Loans Author/Editor: Hulya Ulku, Tito Cordella. Release Date:September, 2004 Under what conditions should grants be preferred to loans? To answer this question, we present a simple model à la Krugman (1988) and show that, for any given level of developmental assistance, the more...
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| Country Insurance Author/Editor: Eduardo Levy Yeyati, Tito Cordella. Release Date:August, 2004 In this paper, we examine how the presence of country insurance schemes affects policymakers' incentives to undertake reforms. Such schemes (especially when made contingent on negative external more...
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| Budget Support Versus Project Aid Author/Editor: Tito Cordella, Giovanni Dell'Ariccia. Release Date:April, 2003 Should donors who are interested in the effectiveness of developmental programs rely on conditional budget support or on project aid? To answer this question, we present a model in which only a more...
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| Limits of Conditionality in Poverty Reduction Programs Author/Editor: Giovanni Dell'Ariccia, Tito Cordella. Release Date:July, 2002 When donors and recipients have different preferences over budgetary allocations, conditionality helps the implementation of donor-financed poverty reduction programs. However, if donors cannot more...
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| Public Disclosure and Bank Failures Author/Editor: Eduardo Levy Yeyati, Tito Cordella. Release Date:August, 1997 This paper examines how public disclosure of banks’ risk exposure affects banks’ risk-taking incentives and assesses how the presence of informed depositors influences the more...
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