The effect of debt relief under the Enhanced HIPC Initiative and the MDRI on gross fixed capital formation
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | |
|---|---|---|---|---|---|---|---|
| afterdecisionpoint | 4.471*** (0.480) | 0.434 (0.536) | |||||
| aftercompletionpoint | 5.478*** (0.491) | 5.787*** (0.510) | 1.844** (0.563) | 2.108*** (0.546) | 6.753*** (0.593) | ||
| betweendecisionandcompletion | 1.632* (0.743) | −2.873*** (0.855) | 1.884* (0.843) | ||||
| Constant | 34.56*** (0.790) | 34.57*** (0.787) | 34.56*** (0.787) | 25.57*** (0.908) | 25.56*** (0.909) | 25.63 *** (0.908) | 25.86*** (0.740) |
| Observations | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 |
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | |
|---|---|---|---|---|---|---|---|
| afterdecisionpoint | 4.471*** (0.480) | 0.434 (0.536) | |||||
| aftercompletionpoint | 5.478*** (0.491) | 5.787*** (0.510) | 1.844** (0.563) | 2.108*** (0.546) | 6.753*** (0.593) | ||
| betweendecisionandcompletion | 1.632* (0.743) | −2.873*** (0.855) | 1.884* (0.843) | ||||
| Constant | 34.56*** (0.790) | 34.57*** (0.787) | 34.56*** (0.787) | 25.57*** (0.908) | 25.56*** (0.909) | 25.63 *** (0.908) | 25.86*** (0.740) |
| Observations | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 | 5,691 |
Notes: Dependent variable is gross fixed capital formation (per cent of GDP). All regressions include year fixed effects. (1) (2) and (3) include country fixed effects; (4) (5) and (6) include continent dummies; (7) includes dummy for Heavily Indebted Poor Countries (HIPC). Robust standard errors in parentheses. *p<0.05; ***p<0.001
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