01753cas a2200241 a 4500 AALejournalIMF017636 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475599732 1018-5941 BD-DhAAL BD-DhAAL Bal Gunduz, Yasemin. Debt Sustainability in Low-Income Countries : Policies, Institutions, or Shocks? / Yasemin Bal Gunduz. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (47 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper estimates the determinants of external debt distress in low-income countries (LICs), disentangling the roles of institutions, shocks, and policies. The most prominent factors in raising the risk of debt distress are the weak protection of private property rights, adverse shocks to real non-oil commodity prices, and a high debt burden. Results also suggest that weak economic institutions tend to raise the probability of debt distress through persistently weak economic policies and high vulnerability to external shocks. The model enables a more granular analysis of debt sustainability in LICs and has a higher predictive power compared to the earlier scant literature. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2017/114 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/114/001.2017.issue-114-en.xml IMF e-Library