[African Development Bank. (2018) 2018 African Economic Outlook: Zimbabwe country note, African Development Bank.]Search in Google Scholar
[Agénor, P.R., Montiel, P.J. (2008) Development Macroeconomics, Princeton University Press, Princeton and Oxford.]Search in Google Scholar
[Akram, N. (2015) Is public debt hindering economic growth of the Philippines? International Journal of Social Economics, 42(3), 202-221.10.1108/IJSE-02-2013-0047]Search in Google Scholar
[Akram, N. (2017) Role of public debt in economic growth of Sri Lanka: An ARDL Approach, Pakistan Journal of Applied Economics, 27(2), 189-212.]Search in Google Scholar
[Baldacci, E., Kumar, M. (2010) Fiscal deficits, public debt and sovereign bond yields, IMF Working Paper, forthcoming, International Monetary Fund.10.2139/ssrn.1669865]Search in Google Scholar
[Balcilar, M. (2012) The difficult quest for an answer to low growth dilemma in Turkey: The channel of debt and productivity, International Journal of Economic Perspectives, 6(4), 93-113.]Search in Google Scholar
[Barro, R.J. (1974) Are government bonds net wealth? Journal of Political Economy, 82(6), 1095-1117.10.1086/260266]Search in Google Scholar
[Barro, R.J. (1989) The Ricardian approach to budget deficits, The Journal of Economic Perspectives, 3(2): 37-54.10.1257/jep.3.2.37]Search in Google Scholar
[Borensztein, E. (1990) Debt overhang, credit rationing and investment, Journal of Development Economics, 32, 315-335.10.1016/0304-3878(90)90041-9]Search in Google Scholar
[Clements, B., Bhattacharya, R. & Nguyen, T.Q. (2003) External debt, public investment and growth in low-income countries. IMF Working Paper No. 03/249. Washington DC. International Monetary Fund.10.5089/9781451875904.001]Search in Google Scholar
[Cohen, D. (1993) Low investment and large LDC Debt in the 1980s, American Economic Review, 83(3), 437-449.]Search in Google Scholar
[Cohen, D. (1995) Large external debt and (slow) domestic growth: A theoretical analysis, Journal of Economic Dynamics and Control, 19, 1141-1163.10.1016/0165-1889(94)00822-Y]Search in Google Scholar
[Deshpande, A. (1997) The debt overhang and the disincentive to invest, Journal of Development Economics, 52, 169-187.10.1016/S0304-3878(96)00435-X]Search in Google Scholar
[Devarajan, S. (2018) Low-income country debt: Déjà vu all over again? Washington DC, Future Development, Brookings Institution.]Search in Google Scholar
[Diamond, P. (1965) National debt in a neoclassical growth model, American Economic Review, 55(5), 1126-1150.]Search in Google Scholar
[Elbadawi, I. A., Ndulu, B. J. & Ndungu, N. (1997) Debt overhang and economic growth in sub-Saharan Africa, Washington DC, International Monetary Fund.]Search in Google Scholar
[Fosu, A.K (2007). The External Debt Servicing Constraint and Public Expenditure Composition: Evidence from African Economies. UNU-WIDER. Research Paper No. 2007/36.]Search in Google Scholar
[Fry, M.J. (1989) Foreign debt instability: An analysis of national saving and domestic investment responses to foreign debt accumulation in 28 developing countries, Journal of International Money and Finance, 8, 315-344.10.1016/0261-5606(89)90001-6]Search in Google Scholar
[Gill, I., Karakülah, K. (2018a) Is Africa Headed for Another Debt Crisis? Duke Centre for International Development, Durham NC.]Search in Google Scholar
[Gill, I., Karakülah, K. (2018b) Sounding the alarm on Africa’s debt, Washington DC, Future Development, Brookings Institution.]Search in Google Scholar
[Hansen, H. (2001) The impact of aid and external debt on growth and investment: Insights from cross-country regression analysis. Presented at the WIDER Conference on Debt Relief, United Nations University, Helsinki, Finland, August 17.]Search in Google Scholar
[Hansen, H. (2002) The impact of aid and external debt on growth and investment, Centre for Research in Economic Development and International Trade, University of Nottingham.]Search in Google Scholar
[Hjertholm, P., Laursen, J. & White, H. (1998) Macroeconomic issues in foreign aid, Paper presented at a conference on Foreign Aid and Development: Lessons of Experience and Directions for the Future, Development Economics Research Group (DERG), Institute of Economics, University of Copenhagen.]Search in Google Scholar
[International Monetary Fund. (2009) Zimbabwe overdue financial obligations to the PRGF-ESF Trust, Washington DC, International Monetary Fund.]Search in Google Scholar
[International Monetary Fund. (2010) Zimbabwe: Challenges and Policy Options after Hyperinflation, Washington DC, International Monetary Fund.]Search in Google Scholar
[International Monetary Fund. (2011), 2011 Article IV Report-Debt Sustainability Analysis Zimbabwe: Joint IMF/World Bank Debt Sustainability Analysis, Washington DC, International Monetary Fund.]Search in Google Scholar
[International Monetary Fund. (2015) Adjusting to lower commodity prices. World Economic and Financial Surveys, World Economic Outlook, Washington DC, International Monetary Fund.]Search in Google Scholar
[International Monetary Fund. (2016) Sub-Saharan Africa: Time for a policy reset: Weathering the commodity price slump, Regional Economic Outlook, Chapter 2, Washington DC, International Monetary Fund. [Online]. Retrieved from: <https://www.imf.org/en/Publications/REO/SSA/Issues/2016/04/05/Time-for-a-Policy-Reset> [Assessed 24 March 2019].]Search in Google Scholar
[International Monetary Fund. (2017) 2017 Article IV Report-Debt Sustainability Analysis Zimbabwe: Joint IMF/World Bank Debt Sustainability Analysis, Washington DC, International Monetary Fund.]Search in Google Scholar
[International Monetary Fund. (2018a) The debt challenge to African growth. [Online]. Retrieved from: <https://www.imf.org/en/News/Articles/2018/07/31/vc052318-the-debt-challenge-to-african-growth> [Assessed 17 March 2019].]Search in Google Scholar
[International Monetary Fund. (2018b) Regional economic outlook: Domestic revenue mobilisation and private investment. [Online]. Retrieved from: <https://www.imf.org/en/Publications/REO/SSA/Issues/2018/04/30/sreo0518> [Assessed 17 March 2019].]Search in Google Scholar
[Jalles, J.T. (2011) The impact of democracy and corruption on the debt-growth relationship in developing countries, Journal of Economic Development, 36(4), 41-72.10.35866/caujed.2011.36.4.003]Search in Google Scholar
[Kalemli-Özcan, S., Laeven, L. & Moreno, D. (2017) Debt overhang, rollover risk, and corporate investment: Evidence from the European crisis. Background paper, 1-38.]Search in Google Scholar
[Kharusi, S.A. & Ada, M.S. (2018) External debt and economic growth: The case of emerging economy, Journal of Economic Integration, 33(1), 1141-1157.10.11130/jei.2018.33.1.1141]Search in Google Scholar
[Krugman, P. (1988) Financing vs. forgiving a debt overhang, Journal of Development Economics, 29(3), 253-268.10.1016/0304-3878(88)90044-2]Search in Google Scholar
[Ministry of Finance. (2009) 2010 National Budget Statement, Ministry of Finance and Economic Development, Harare, Government Printers.]Search in Google Scholar
[Ministry of Finance. (2010) Medium-Term Plan, Ministry of Finance and Economic Development, Harare, Government Printers.]Search in Google Scholar
[Ministry of Finance. (2014) National Budget Statements, 2009-2013, Ministry of Finance and Economic Development, Harare, Government Printers.]Search in Google Scholar
[Ministry of Finance. (2016) The 2016 National Budget Statement, Ministry of Finance and Economic Development, Harare, Government Printers.]Search in Google Scholar
[Ministry of Finance. (2018) The 2019 National Budget Statement – Austerity for Prosperity, Ministry of Finance and Economic Development, Harare, Government Printers.]Search in Google Scholar
[Mupunga, N. & Le Roux, P. (2015) Estimating the optimal growth-maximising public debt threshold for Zimbabwe. Southern African Business Review, 19(3), 102-128.]Search in Google Scholar
[Ncanywa, T. & Masoga, M.M. (2018) Can public debt stimulate public investment and economic growth in South Africa? Cogent Economics and Finance, 6, 1-13.10.1080/23322039.2018.1516483]Search in Google Scholar
[Patenio, J.S. & Tan-Cruz, A. (2007) Economic growth and external debt servicing of the Philippines: 1981-2005, 10th National Convention on Statistics (NCS) EDSA Shangri-La Hotel, October 1-2, 2007.]Search in Google Scholar
[Pattillo, C., Poirson, H. & Ricci, L. (2002) External debt and growth, IMF Working Paper 02/69, Washington DC, International Monetary Fund.10.5089/9781451849073.001]Search in Google Scholar
[Pesaran, M.H. & Shin, Y. (1999) An autoregressive distributed lag modelling approach to cointegration analysis. In: Storm, S. (Ed.) Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium, Cambridge University Press, Chapter 11: 1-31.]Search in Google Scholar
[Pesaran, M.H., Shin, Y. & Smith, R.J. (2001) Bounds testing approaches to the analysis of level relationships, Journal of Applied Econometrics, 16, 289-326.10.1002/jae.616]Search in Google Scholar
[Reserve Bank of Zimbabwe. (2018) 2018 Monetary Policy Statement: Enhancing financial stability to promote business confidence, Harare, Fidelity Printers.]Search in Google Scholar
[Sachs, J.D. (1989) The debt overhang of developing countries, in Debt, stabilisation and development, ed. by Calvo, G.A., Findlay, R., Kouri, P., and De Macedo, J.B. Basil Blackwell, Oxford.]Search in Google Scholar
[Savvides, A. (1992) Investment slowdown in developing countries during the 1980s: Debt overhang or foreign capital inflows, Kyklos, 45, 363-378.10.1111/j.1467-6435.1992.tb02121.x]Search in Google Scholar
[Sen, S., Kasibhatla, K.M. & Stewart, D.B. (2007) Debt overhang and economic growth–the Asian and the Latin American experiences, Economic Systems, 31(1), 3-11.10.1016/j.ecosys.2006.12.002]Search in Google Scholar
[Serieux, J. & Samy, Y. (2001) The debt service burden and growth: Evidence from low-income countries, The North-South Institute Working Paper, Ottawa: Canada.]Search in Google Scholar
[Servén, L. & Solimano, A. (1993) Debt crisis, adjustment policies and capital formation in developing countries: Where do we stand? World Development, 21(1), 127-140.10.1016/0305-750X(93)90141-U]Search in Google Scholar
[Taylor, L. (1983) Structuralist Macroeconomics, New York, Basic Books.]Search in Google Scholar
[Taylor, L. (1993) The rocky road to reform: Adjustment, income distribution and growth in the developing world. London, The MIT Press for UNU-WIDER.]Search in Google Scholar
[Weeks, J. (2000) Latin America and high performing Asian economies: growth and debt, Journal of International Development, 12(5), 625-654.10.1002/1099-1328(200007)12:5<625::AID-JID652>3.0.CO;2-O]Search in Google Scholar
[World Bank. (2017) Global Economic Prospects: Weak investment in uncertain times, Washington DC, World Bank.]Search in Google Scholar
[World Bank. (2018a) Are Poor countries headed towards another external debt crisis? Internal note, Washington DC, World Bank.]Search in Google Scholar
[World Bank. (2018b) World Development Indicators, Washington DC, World Bank.]Search in Google Scholar
[World Bank. (2019) Debt in low-income countries: Evolution, implication and remedies, Chapter 4, Global Economic Prospects, World Bank.]Search in Google Scholar