University of Hertfordshire

From the same journal

By the same authors

Standard

Global Liquidity, the Private Sector and Debt Sustainability in Sub-Saharan Africa. / Bonizzi, Bruno; Laskaridis, Christina ; Toporowski, Jan.

In: Development and Change, Vol. 50, No. 5, 09.05.2019, p. 1430-1454.

Research output: Contribution to journalArticle

Harvard

APA

Vancouver

Author

Bonizzi, Bruno ; Laskaridis, Christina ; Toporowski, Jan. / Global Liquidity, the Private Sector and Debt Sustainability in Sub-Saharan Africa. In: Development and Change. 2019 ; Vol. 50, No. 5. pp. 1430-1454.

Bibtex

@article{a5d937dbec424e0f8f881ffeed82014e,
title = "Global Liquidity, the Private Sector and Debt Sustainability in Sub-Saharan Africa",
abstract = "This article analyses the effect of changes in international financial markets on the debt dynamics in sub-Saharan Africa in recent years. A key development is the rise of the private sector as both a lender and a borrower in African debt markets, a process that is associated with the growing integration of the region into global financial markets. The article argues that the Debt Sustainability Framework of the International Monetary Fund and World Bank has taken some steps to account for this growth of private sector, cross-border debt, but such steps still fall short of what is needed. A full appreciation of the importance of private debt implies, first, that debt sustainability in sub-Saharan Africa be understood in the context of countries’ integration in global financial markets and the global liquidity cycles that characterize those markets and, second, that the interplay between private and public debt be monitored in order to provide a fuller picture of the impact of private sector debt on fiscal sustainability.",
author = "Bruno Bonizzi and Christina Laskaridis and Jan Toporowski",
year = "2019",
month = "5",
day = "9",
doi = "10.1111/dech.12507",
language = "English",
volume = "50",
pages = "1430--1454",
journal = "Development and Change",
issn = "0012-155X",
publisher = "Wiley-Blackwell",
number = "5",

}

RIS

TY - JOUR

T1 - Global Liquidity, the Private Sector and Debt Sustainability in Sub-Saharan Africa

AU - Bonizzi, Bruno

AU - Laskaridis, Christina

AU - Toporowski, Jan

PY - 2019/5/9

Y1 - 2019/5/9

N2 - This article analyses the effect of changes in international financial markets on the debt dynamics in sub-Saharan Africa in recent years. A key development is the rise of the private sector as both a lender and a borrower in African debt markets, a process that is associated with the growing integration of the region into global financial markets. The article argues that the Debt Sustainability Framework of the International Monetary Fund and World Bank has taken some steps to account for this growth of private sector, cross-border debt, but such steps still fall short of what is needed. A full appreciation of the importance of private debt implies, first, that debt sustainability in sub-Saharan Africa be understood in the context of countries’ integration in global financial markets and the global liquidity cycles that characterize those markets and, second, that the interplay between private and public debt be monitored in order to provide a fuller picture of the impact of private sector debt on fiscal sustainability.

AB - This article analyses the effect of changes in international financial markets on the debt dynamics in sub-Saharan Africa in recent years. A key development is the rise of the private sector as both a lender and a borrower in African debt markets, a process that is associated with the growing integration of the region into global financial markets. The article argues that the Debt Sustainability Framework of the International Monetary Fund and World Bank has taken some steps to account for this growth of private sector, cross-border debt, but such steps still fall short of what is needed. A full appreciation of the importance of private debt implies, first, that debt sustainability in sub-Saharan Africa be understood in the context of countries’ integration in global financial markets and the global liquidity cycles that characterize those markets and, second, that the interplay between private and public debt be monitored in order to provide a fuller picture of the impact of private sector debt on fiscal sustainability.

UR - http://www.scopus.com/inward/record.url?scp=85065645343&partnerID=8YFLogxK

U2 - 10.1111/dech.12507

DO - 10.1111/dech.12507

M3 - Article

VL - 50

SP - 1430

EP - 1454

JO - Development and Change

JF - Development and Change

SN - 0012-155X

IS - 5

ER -