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Author : Niels Hermes,Robert Lensink
Publisher : Unknown
Page : 40 pages
File Size : 51,7 Mb
Release : 2001
Category : Fiscal policy
ISBN : IND:30000129849794
Author : Ajay Chhibber,Mansoor Dailami
Publisher : World Bank Publications
Page : 48 pages
File Size : 52,5 Mb
Release : 1990
Category : Finance, Public
ISBN : 8210379456XXX
The key to sustained recovery in developing countries is the revival of private investment. This revival requires a coordinated set of credible policies - fiscal, exchange rate, tax, and public expenditure restructuring. In several countries the debt overhang is also an obstacle to achieving that credibility.
Author : Ajay Chhibber,Mansoor Dailami,Banco Mundial
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 1990
Category : Electronic
ISBN : OCLC:777759157
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 30 pages
File Size : 46,5 Mb
Release : 1990-04-01
Category : Business & Economics
ISBN : 9781451977028
This paper analyzes the effects of several policy and other macro-economic variables on the ratio of private investment to GDP in developing countries. Using data for a sample of 23 developing countries over the period 1975-87, the econometric evidence indicates that the rate of private investment is positively related to the real growth rate of GDP, public sector investment, and to a lesser extent the level of per capita GDP, while it is negatively related to domestic inflation, the debt service ratio, the debt-to-GDP ratio, and high real interest rates. There is also some indication that all but the last of these variables had a greater impact before the onset of the debt crisis in 1982, while the debt-to-GDP ratio (a measure of a country’s debt overhang) has become more important since then.
Author : Eprime Eshag
Publisher : Cambridge University Press
Page : 316 pages
File Size : 46,8 Mb
Release : 1983
Category : Business & Economics
ISBN : 0521270499
Consideration on the use of fiscal and monetary policies in less developed countries to overcome the three sets of obstacles to development largely because of socio-political constraints. The three major obstacles to development are: inadequate investment; misallocation of investment resources; and internal and external imbalance i.e. inflation and balance of payments deficits.
Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 286 pages
File Size : 55,9 Mb
Release : 2012-10
Category : Business & Economics
ISBN : 9780821396308
Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.
Author : Mr.Peter Rangazas,Mr.Alex Mourmouras
Publisher : International Monetary Fund
Page : 35 pages
File Size : 53,6 Mb
Release : 2008-06-01
Category : Business & Economics
ISBN : 9781451870138
This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3) Today's developing countries have larger government sectors than did today's developed countries at similar stages of development. The explanations for these facts are based on the structural transformation from traditional (mostly agricultural) to modern (industrial and post-industrial) production, rising public infrastructure investment, and less representative governments in many of today's developing economies.
Author : Robert Babbitt Bangs
Publisher : Chicago : University of Chicago Press
Page : 232 pages
File Size : 49,6 Mb
Release : 1968
Category : Political Science
ISBN : STANFORD:36105033995627
Study of problems of fiscal policy and the role thereof in the financing of economic development, with particular reference to developing countries - covers concepts of economic growth, economic administration, budget structures, taxation and the effects of tax income, monetary policy, investment in private enterprise, foreign economic aid, etc. References and statistical tables.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 20 pages
File Size : 49,8 Mb
Release : 1989-07-26
Category : Business & Economics
ISBN : 9781451965247
Despite the growing support for market-oriented strategies, and for a greater role of private investment, empirical growth models for developing countries typically make no distinction between the private and public components of investment. This paper sheds some light on this important issue by formulating a simple growth model that separates the effects of public sector and private sector investment. This model is estimated for a cross - section sample of 24 developing countries, and the results support the notion that private investment has a larger direct effect on growth than does public investment.
Author : Naoko C. Kojo,Mr.Emanuele Baldacci,Mr.Arye L. Hillman
Publisher : International Monetary Fund
Page : 40 pages
File Size : 47,9 Mb
Release : 2003-12-01
Category : Business & Economics
ISBN : 9781451875737
Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the primary channel is factor productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is some four times more effective than investment as a channel for increasing growth through fiscal policy. Although the private investment response to fiscal contraction may be minor, high-deficit, low-income countries can nonetheless benefit from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase growth.
Author : Rathin Roy,Antoine Heuty
Publisher : Routledge
Page : 523 pages
File Size : 52,7 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781136565670
With the deadline for achieving the 2015 Millennium Development Goals (MDGs) less than a decade away, the uneven progress is raising important questions about the ability of the international community to 'scale up' its efforts to finance the goals. Securing adequate financing for development has thus become the most pressing issue of the development agenda. This groundbreaking volume, by leading development economists and practitioners, addresses the central concern for policymakers involved in long term planning for the MDGs: how to create 'fiscal space' for the MDGs and strengthen domestic resource mobilization for human development, while ensuring long-term sustainability and freedom from reliance on aid. By looking at the evidence with fresh perspectives, the authors present a novel approach by which fiscal policy can be made to work for the poor, for the long term. Published with UNDP and Revenue Watch.
Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 49 pages
File Size : 41,7 Mb
Release : 2005-01-04
Category : Business & Economics
ISBN : 9781498331630
This paper reports on findings from eight pilot country studies on public investment that were carried out during the second half of 2004. The pilot country studies covered a diverse group of countries. Specifically, they included countries in Latin America (Brazil, Chile, Colombia, and Peru), Africa (Ethiopia and Ghana), the Middle East (Jordan), and Asia (India).
Author : Mr.Paul Cashin
Publisher : International Monetary Fund
Page : 36 pages
File Size : 48,7 Mb
Release : 1994-08-01
Category : Business & Economics
ISBN : 9781451951479
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 257 pages
File Size : 45,8 Mb
Release : 2015-04-20
Category : Business & Economics
ISBN : 9781498344654
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author : Jaime de Melo,Riccardo Faini
Publisher : Springer
Page : 232 pages
File Size : 51,7 Mb
Release : 1993-07-15
Category : Business & Economics
ISBN : 9781349227907
The book deals with aspects of the recent fiscal crisis in developing countries. Macro aspects cover theoretical underpinning of fiscal policy, the size of the required adjustment and the link between internal and external transfers. Micro aspects cover the relation between private and public investment, the experience of tax and expenditure reforms, and the impact of fiscal adjustment on the poor.
