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|Title:||Economic Growth and External Debt Servicing: A Cointegration Analysis for the Case of Sri Lanka||Contributor(s):||Wijeweera, Albert (author); Dollery, Brian Edward (author); Pathberiya, Palitha (author)||Publication Date:||2007||Handle Link:||https://hdl.handle.net/1959.11/4211||Abstract:||In the immediate aftermath of the tsunami disaster, many of Sri Lanka's creditor nations granted debt write-offs and interest-free periods on loans to assist the reconstruction process. Two macroeconomic effects stem from excessive external debt; a debt overhang problem and a credit-rationing problem. Using econometric analysis and Sri Lankan data for the period 1952 to 2002, this paper investigates whether Sri Lanka faces a debt overhang problem. Long-run estimations rely on cointegration methodology whereas short-run analysis employs an error correction method. The results indicate that Sri Lanka does not have a debt overhang problem, probably because total external indebtedness is not too high.||Publication Type:||Journal Article||Source of Publication:||Indian Journal of Economics & Business, 6(1), p. 93-102||Publisher:||Serials Publications||Place of Publication:||India||ISSN:||0972-5784||Field of Research (FOR):||140202 Economic Development and Growth||Socio-Economic Objective (SEO):||910101 Balance of Payments||Peer Reviewed:||Yes||HERDC Category Description:||C1 Refereed Article in a Scholarly Journal||Other Links:||http://findarticles.com/p/articles/mi_m1TSD/is_1_6/ai_n25012621/||Statistics to Oct 2018:||Visitors: 179
|Appears in Collections:||Journal Article|
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