The Effects of International Debt On the Economic-Development of Small Countries

Document Type

Article

Publication Date

2-1-1993

Department

Political Science, International Development, and International Affairs

Abstract

This paper attempts to determine the effects of international debt on the economic development of small countries. Data on five economic variables for 51 small countries were collected and were subgrouped by income to assess their general economic performance. In this study any country with a population of less than five million was defined as a small country. Two types of statistical analysis were performed. The first was to test for independence between two pairs of variables based on correlation methodology, and the second, analysis of variance, was used for testing differences among groups of countries. It was concluded that international debt affects small countries with relatively higher incomes in a significantly different manner than it affects small countries with low incomes.

Publication Title

World Development

Volume

21

Issue

2

First Page

227

Last Page

232

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