TY  - BOOK
ED  - International Monetary Fund.
TI  - Debt Overhang, Debt Reduction and Investment: The Case of the Philippines
T2  - IMF Working Papers; Working Paper
SN  - 1451956533 :
SN  - 1018-5941
PY  - 1990///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Debt Overhang
KW  - imf
KW  - Debt Reduction
KW  - Foreign Debt
KW  - Investment Function
KW  - Real Interest Rate
KW  - Philippines
N2  - While there is a substantial body of literature on the effects of "debt overhang" on investment in heavily-indebted countries, there is surprisingly little empirical work available on this subject. This paper tests the hypothesis that the stock of foreign debt acts as a disincentive to private investment in the specific case of the Philippines. The empirical estimates provide support for this hypothesis, particularly after 1982. The estimates indicate that a
UR  - http://elibrary.imf.org/view/IMF001/15478-9781451956535/15478-9781451956535/15478-9781451956535.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451956535
ER  -