On the sustainability of external debt: is debt relief enough?
基于Pasinetti的几何债务可持续性框架，分析低收入国家外债可持续性的结构性和金融性两方面，指出债务减免和额外援助对改善其长期经济活力都不可或缺。
Elaborating on Pasinetti (1998), the ‘geometry of debt sustainability’ (GDS) represents an analytical tool for the analysis of the long term sustainability of foreign debt. The paper focuses on debt sustainability in low-income countries, which face several major challenges simultaneously: achieving economic growth, consolidating human development goals and meeting regular debt service payments. The GDS reveals how the ‘structural’ aspect of debt sustainability—as indicated by trends in the non-interest current account—is closely interlinked with sustainability from a ‘financial’ point of view—as indicated by the relationship between the growth and the interest rate. The GDS shows why both debt cancellation and additional aid are necessary to give indebted low-income economies a chance to improve their long term economic viability.