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Does Conditionality on Borrowing Help?

机译:借用帮助是否有条件?

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Borrowers of international financial institutions (IFIs) have both interest and conditionality to deal with. Using data from the World Governance Indicators (WGI), we investigated the influence of conditionality on borrowers. By applying a (RED) dynamic panel regression method, we found compelling evidence, which supports our intuition that conditionality increases the debt burden of borrowing countries. However, this was not the case for all the indebted countries. Heavily indebted poor countries (HIPC) had some of their external commitments reduced when they agreed to implement some sets of conditionality. In light of these findings, we posit that the advocated structural reforms which is used, as a justification for prescribing conditionality does not materialize as planned. It however, erodes the capacity of borrower countries toward their debt servicing obligations. A direct consequence is their (RED) incessant need for external development assistance. Results of the study also proved robust.
机译:国际金融机构(IFIS)借款人有兴趣和条件来处理。使用来自世界治理指标(WGI)的数据,我们调查了对借款人的条件影响。通过应用(红色)动态面板回归方法,我们发现引人注目的证据,这支持我们的直觉,条件增加了借贷国家的债务负担。但是,所有债务国家都不是这种情况。严重债务贫穷国家(HIPC)在他们同意实施一些条件时,他们的一些外部承诺减少了一些。鉴于这些发现,我们认为使用的倡导结构改革作为规定条件的理由并未按计划实现。但是,它侵蚀了借款人国家对其债务服务义务的能力。直接后果是他们(红色)不断的外部发展援助。研究结果也证明了强大的。

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