External indebtedness in Sub-Saharan Africa: a spatial econometric perspective

Q4 Economics, Econometrics and Finance

Journal for Studies in Economics and Econometrics Pub Date : 2022-04-03 DOI:10.1080/03796205.2022.2089217

J. Jeetoo

{"title":"External indebtedness in Sub-Saharan Africa: a spatial econometric perspective","authors":"J. Jeetoo","doi":"10.1080/03796205.2022.2089217","DOIUrl":null,"url":null,"abstract":"Abstract The dilemma around external debt accumulation and the increasing burden of debt servicing in sub-Saharan Africa (SSA) remains a repetitive topic in the development debates. The aim of this study is to investigate the determinants of external indebtedness for SSA countries over the period 2002–2020 while accounting for spatial effects. It departs from the classical literature which uses external debt to Gross Domestic Product ratio as a measure of external indebtedness and formulates another measure, referred to as the Indebtedness Index, which is calculated by making use of the Stochastic Frontier Analysis technique. It accounts for the impact of spatial interactions in external debt accumulation behaviour, by applying the Spatial Durbin Model. The findings of the study show evidence of spatial interactions in external indebtedness among SSA nations. The results also show the reduction capacity of higher exports, political stability and government effectiveness on external indebtedness, while higher share of broad money to GDP exacerbates external indebtedness.","PeriodicalId":55873,"journal":{"name":"Journal for Studies in Economics and Econometrics","volume":"46 1","pages":"83 - 104"},"PeriodicalIF":0.0000,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal for Studies in Economics and Econometrics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/03796205.2022.2089217","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}

引用次数: 1

Abstract

Abstract The dilemma around external debt accumulation and the increasing burden of debt servicing in sub-Saharan Africa (SSA) remains a repetitive topic in the development debates. The aim of this study is to investigate the determinants of external indebtedness for SSA countries over the period 2002–2020 while accounting for spatial effects. It departs from the classical literature which uses external debt to Gross Domestic Product ratio as a measure of external indebtedness and formulates another measure, referred to as the Indebtedness Index, which is calculated by making use of the Stochastic Frontier Analysis technique. It accounts for the impact of spatial interactions in external debt accumulation behaviour, by applying the Spatial Durbin Model. The findings of the study show evidence of spatial interactions in external indebtedness among SSA nations. The results also show the reduction capacity of higher exports, political stability and government effectiveness on external indebtedness, while higher share of broad money to GDP exacerbates external indebtedness.

查看原文本刊更多论文

撒哈拉以南非洲的外债：空间计量经济学视角

摘要撒哈拉以南非洲围绕外债积累和偿债负担增加的困境仍然是发展辩论中的一个重复话题。本研究的目的是调查2002年至2020年期间撒哈拉以南非洲国家外债的决定因素，同时考虑空间效应。它偏离了使用外债与国内生产总值比率来衡量外债的经典文献，并制定了另一种衡量指标，称为负债指数，该指标是通过使用随机前沿分析技术计算的。它通过应用空间德宾模型，解释了外债积累行为中空间相互作用的影响。研究结果表明，撒哈拉以南非洲国家之间的外债存在空间相互作用。研究结果还表明，出口增加、政治稳定和政府对外债的有效性降低了能力，而广义货币在GDP中所占份额增加则加剧了外债。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal for Studies in Economics and Econometrics Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

0.80

自引率

0.00%

发文量

期刊介绍： Published by the Bureau for Economic Research and the Graduate School of Business, University of Stellenbosch. Articles in the field of study of Economics (in the widest sense of the word).