Helping the poor to help themselves
Subtitle: debt relief or aid
By: Serkan Arslanalp, Peter Blair Henry.
Contributors: Henry, Peter Blair.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10230; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10230.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Debt relief -- Developing countries; Economic assistance -- Developing countries
Description: "Debt relief is unlikely to stimulate investment and growth in the world's highly indebted poor countries (HIPCs).  This is because the HIPCs do not suffer from debt overhang.  The principal obstacle to investment and growth in the world's poorest countries is a lack of basic economic institutions that provide the foundation for profitable economic activity.  If the goal is to help poor countries build the institutions that best suit their development needs, then the energy and resources currently devoted to the HIPC initiative could be more effectively employed as direct foreign aid"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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