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A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior, Calixte Ahokpossi, Laurence Allain, Giovanna Bua

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
Table Of Contents
Cover; Abstract; Contents; I. Introduction; II. Data and Methodology; A. Data; B. Methodology; III. Estimating Average Treatment Effect; A. Estimating the participation equation (or propensity scores); B. Matching method and results; IV. Heterogeneity Analysis; V. Conclusion; Appendixes; 1. Figures; 2. Tables; 3. Auxiliary Tables; References
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (42 p.)
Specific Material Designation
Form Of Item

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