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    On measuring indebtedness of African countries: a stochastic frontier debt production function

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    nkamleu-measuring-2006.pdf (323.0Kb)
    Date
    2006
    Author
    Nkamleu, G.B.
    Type
    Report
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    Abstract/Description
    At least since the early 1990s, the problem of Africa’s debt was a recurring theme in the development debate and many suggestions for debt relief have now been implemented. However, a thorough solution is hampered by the existence of multiple ways of scaling debt. This paper provides a framework for comprehensively measuring indebtedness and gives therefore a basis for setting objective principles for debt reduction measures. The paper uses a stochastic frontier production function approach and the technical efficiency computation procedure to develop an indebtedness index for 46 African countries. The results indicate an indebtedness index across countries ranging from a minimum of 3.6 (South-Africa) to a maximum of 92 (Zambia), with an average of 69. Countries, which have experienced extended civil wars, are generally less indebted, while countries with more corrupt governments have generally contracted more multilateral debt. The paper ends by raising a number of implications for a better approach of debt management in Africa.
    Permanent link to this item
    https://hdl.handle.net/20.500.12478/3094
    IITA Subjects
    Agribusiness; Policies And Institutions; Markets; Domestic Trade; Livelihoods; Knowledge Management
    Agrovoc Terms
    Debt; Economic Growth; Indebtedness; Consumption; World Bank; Stochastic Frontier
    Regions
    Africa; North Africa
    Countries
    Tunisia
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    • Reports and Documents180
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