TY  - BOOK
AU  - Ahokpossi,Calixte
AU  - Allain,Laurence
AU  - Bua,Giovanna
TI  - A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior
T2  - IMF Working Papers; Working Paper
SN  - 1498349722 :
SN  - 1018-5941
PY  - 2014///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Concessional Debt
KW  - imf
KW  - Concessionality
KW  - Debt Limits Policy
KW  - Debt Relief
KW  - External Debt
KW  - General
KW  - Bhutan
KW  - Central African Republic
KW  - Congo, Democratic Republic of the
KW  - Georgia
KW  - Saint Vincent and the Grenadines
N2  - This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The paper finds that countries under the DLP borrow significantly higher amounts of concessional resources. However, there is no evidence that the DLP significantly impacts the level of non-concessional borrowing nor the terms of such borrowing. This result is confirmed by the heterogeneity analysis, suggesting that the level of development, rather than concessionality requirements, is the key driver of non-concessional borrowing
UR  - http://elibrary.imf.org/view/IMF001/22068-9781498349727/22068-9781498349727/22068-9781498349727.xml
UR  - http://www.imfbookstore.org/IMFORG/9781498349727
ER  -