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Large external debt and (slow) domestic growth a theoretical analysis

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  • Cohen, Daniel
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  • Cohen, Daniel, 1995. "Large external debt and (slow) domestic growth a theoretical analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 19(5-7), pages 1141-1163.
    • Handle: RePEc:eee:dyncon:v:19:y:1995:i:5-7:p:1141-1163
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. V. V. Chari & Patrick J. Kehoe, 1993. "Sustainable Plans and Mutual Default," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(1), pages 175-195.
    3. Marcet, Albert & Marimon, Ramon, 1992. "Communication, commitment, and growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 219-249, December.
    4. Bulow, Jeremy & Rogoff, Kenneth, 1989. "A Constant Recontracting Model of Sovereign Debt," Journal of Political Economy, University of Chicago Press, vol. 97(1), pages 155-178, February.
    5. Daniel Cohen & Jeffrey Sachs, 1991. "Growth and External Debt Under Risk of Debt Repudiation," NBER Chapters, in: International Volatility and Economic Growth: The First Ten Years of The International Seminar on Macroeconomics, pages 437-472, National Bureau of Economic Research, Inc.
    6. Helpman, Elhanan, 1989. "The Simple Analytics of Debt-Equity Swaps," American Economic Review, American Economic Association, vol. 79(3), pages 440-451, June.
    7. Krugman, Paul, 1988. "Financing vs. forgiving a debt overhang," Journal of Development Economics, Elsevier, vol. 29(3), pages 253-268, November.
    8. Gennotte, Gerard & Kharas, Homi J & Sadeq, Sayeed, 1987. "A Valuation Model of Developing-Country Debt with Endogenous Rescheduling," The World Bank Economic Review, World Bank, vol. 1(2), pages 237-271, January.
    9. Jonathan Eaton & Mark Gersovitz, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(2), pages 289-309.
    10. Hayashi, Fumio, 1982. "Tobin's Marginal q and Average q: A Neoclassical Interpretation," Econometrica, Econometric Society, vol. 50(1), pages 213-224, January.
    11. Daniel Cohen & Philippe Michel, 1988. "How Should Control Theory Be Used to Calculate a Time-Consistent Government Policy?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 55(2), pages 263-274.
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    Cited by:

    1. Arsène Aurelien NJAMEN KENGDO & Luc NEMBOT NDEFFO & Désiré AVOM, 2020. "The Effect of Foreign Debt on Economic Growth in Sub-Saharan African Sub-Regions," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 109-114.
    2. Imbs, Jean & Rancière, Romain, 2005. "The Overhang Hangover," CEPR Discussion Papers 5210, C.E.P.R. Discussion Papers.
    3. Adil Kouskous & Hafida Nia, 2018. "Public debts and State-Owned Enterprises investments: the case of Morocco [Dettes publiques et investissements des entreprises publiques : cas du Maroc]," Post-Print hal-04198226, HAL.
    4. Talknice Saungweme & Nicholas M. Odhiambo, 2020. "The impact of public debt service on economic growth: empirical evidence from Zambia," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 11(3), pages 172-189.
    5. repec:dau:papers:123456789/5148 is not listed on IDEAS
    6. Babacar XSENE, 2005. "Impact du fardeau virtuel de la dette sur le taux de change réel d'équilibre des pays en développement," Macroeconomics 0501014, University Library of Munich, Germany.
    7. Sonia Afrin Ale & Md Shafiqul Islam & Hazera-Tun Nessa, 2023. "Does External Debt Affect Economic Growth: Evidence from South Asian Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 13(1), pages 83-88, January.
    8. Omotor, Douglason G., 2019. "A Thrifty North and An Impecunious South: Nigeria's External Debt and the Tyranny of Political Economy," MPRA Paper 115292, University Library of Munich, Germany, revised 12 Oct 2019.
    9. repec:dau:papers:123456789/4089 is not listed on IDEAS
    10. Saungweme Talknice & Odhiambo Nicholas M., 2019. "Does Public Debt Service Expenditure Crowd-Out Economic Growth? Empirical Evidence from an African Developing Country," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 64(3), pages 23-38, December.
    11. Sailesh Tanna & Chengchun Li & Glauco De Vita, 2018. "The role of external debt in the foreign direct investment–growth relationship," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 23(4), pages 393-412, October.
    12. Arsène Aurelien Njamen Kengdo & Tii N. Nchofoung & Philemon Bonaventure Ntang, 2020. "Effect of external debt on the level of infrastructure in Africa," Economics Bulletin, AccessEcon, vol. 40(4), pages 3349-3366.
    13. Aminu, Umaru & Ahmad Aminu, Hamidu & Salihu, Musa, 2013. "External Debt and Domestic Debt impact on the growth of the Nigerian Economy," MPRA Paper 75122, University Library of Munich, Germany.
    14. Adewale Hassan & Daniel Meyer, 2021. "Exploring the Channels of Transmission between External Debt and Economic Growth: Evidence from Sub-Saharan African Countries," Economies, MDPI, vol. 9(2), pages 1-16, April.
    15. Eric BERR, 2008. "Which development for the 21st century? Reflections on sustainable development\r\n (In French)," Cahiers du GREThA (2007-2019) 2008-04, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    16. Yun Yang & Leyi Chen & Qingqing Huang, 2015. "The Measurement of the Utilisation Efficiency of External Debt Funds and Its Influencing Factors," Australian Economic Papers, Wiley Blackwell, vol. 54(3), pages 185-205, September.
    17. Mahmoud Sami Nabi & Imed Drine, 2009. "External Debt, Informal Economy and Growth," Economics Bulletin, AccessEcon, vol. 29(3), pages 1695-1707.
    18. Duraid K. Alshbib, 2023. "The Contemporary Concept of Odious Debts: Iraq’s Debts as a Model," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 15(10), pages 1-44, October.
    19. Mayowa Gabriel AJAO & Aigbedo Omorose OGIEMUDIA, 2013. "Foreign Debt Management and the Development of Nigeria Economy," Review of Economics & Finance, Better Advances Press, Canada, vol. 3, pages 99-109, February.
    20. Ali Chebbi, 2015. "Stochastic growth, taxation policy and welfare cost in an open emerging economy," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 62(1), pages 57-84, March.
    21. Abdullahi Ahmed Mohammed PhD & Hamza Dahiru & Bishir Bawa, 2023. "Risk of Geometric Increase in Debt Servicing on Public Investments in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(10), pages 1556-1571, October.

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