Fiscal Deficit And Public Debt In Industrial Countries 1970 1994
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Fiscal Deficit And Public Debt In Industrial Countries 1970 1994
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Author : Mr.Vito Tanzi
language : en
Publisher: International Monetary Fund
Release Date : 1995-05-01
Fiscal Deficit And Public Debt In Industrial Countries 1970 1994 written by Mr.Vito Tanzi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-05-01 with Business & Economics categories.
This paper assembles a set of relevant fiscal data, for both the individual countries and for the aggregate G-7 and 18 industrial countries, which covers a period long enough to allow an assessment of trends and the conduct of econometric tests. The “world” fiscal deficit has been rising since the 1970s and reached a historic high in 1993-94; the rise of the deficit has been accompanied by a significant decline in world saving. The paper argues that the increase in public debt, which has been the consequence of the accumulation of the fiscal deficits, has pushed up worldwide interest rates. Econometric evidence in support of this relationship is presented on the basis of panel data for the period 1970-93.
Fiscal Deficit And Public Debt In Industrial Countries
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Author : Vito Tanzi
language : en
Publisher:
Release Date : 1995
Fiscal Deficit And Public Debt In Industrial Countries written by Vito Tanzi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Fiscal Deficit And Public Debt In Industrial Countries 1970 1994
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Author : Domenico Fanizza
language : en
Publisher:
Release Date : 2006
Fiscal Deficit And Public Debt In Industrial Countries 1970 1994 written by Domenico Fanizza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper assembles a set of relevant fiscal data for both the individual countries and for the aggregate G-7 and 18 industrial countries which covers a period long enough to allow an assessment of trends and the conduct of econometric tests. The quot;worldquot; fiscal deficit has been rising since the 1970s and reached a historic high in 1993-94; the rise of the deficit has been accompanied by a significant decline in world saving. The paper argues that the increase in public debt which has been the consequence of the accumulation of the fiscal deficits has pushed up worldwide interest rates. Econometric evidence in support of this relationship is presented on the basis of panel data for the period 1970-93.
Public Debt And Growth
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Author : Jaejoon Woo
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
Public Debt And Growth written by Jaejoon Woo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Global Waves Of Debt
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Author : M. Ayhan Kose
language : en
Publisher: World Bank Publications
Release Date : 2021-03-03
Global Waves Of Debt written by M. Ayhan Kose and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-03 with Business & Economics categories.
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
The Growth Of Government And The Reform Of The State In Industrial Countries
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Author : Mr.Vito Tanzi
language : en
Publisher: International Monetary Fund
Release Date : 1995-12
The Growth Of Government And The Reform Of The State In Industrial Countries written by Mr.Vito Tanzi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-12 with Business & Economics categories.
This paper describes the growth of public spending in industrial countries over the past century. It identifies several periods: the periods between 1870 and 1913; the period between the two World Wars; the post World War II period up to 1960; and the period after 1960. Public spending started growing during World War I but its growth accelerated after 1960. The paper outlines the reasons for this growth and speculates that recent government growth has not brought about much economic or social progress. The paper sees the future of government mainly in setting the “rules of the game,” and provides a rough blueprint for reform. It also discusses experiences with government reform in selected count les, and predicts that over the next decades, public spending as a share of GDP will fall.
Public Debt Through The Ages
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Author : Mr.Barry J. Eichengreen
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-15
Public Debt Through The Ages written by Mr.Barry J. Eichengreen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-15 with Business & Economics categories.
We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.
The Global Debt Bomb
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Author : James L. Clayton
language : en
Publisher: Routledge
Release Date : 2016-09-16
The Global Debt Bomb written by James L. Clayton and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-16 with Business & Economics categories.
Within a historical perspective, Clayton clearly explains the "culture of debt" - its definition, how it got to be such a major burden, why we can't live without it, and ways to manage it more efficiently. He addresses the development of debt over the course of the 20th century in both the US and world economies. This comprehensive multidisciplinary analysis covers all aspects of debt - benefits and necessity; the impact (both good and bad) on individuals, corporations and governments; and lessons to be learned from the past. Clayton, drawing on current research and extensive primary data in economics, political science, and history, concludes that with our rapacious accumulation of debt and common-place use of "debt-finance", our society has set itself up for a significant financial decline.
The Liquidation Of Government Debt
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Author : Ms.Carmen Reinhart
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-21
The Liquidation Of Government Debt written by Ms.Carmen Reinhart and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-21 with Business & Economics categories.
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
The Puzzle Of Latin American Economic Development
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Author : Patrice M. Franko
language : en
Publisher: Rowman & Littlefield
Release Date : 2007
The Puzzle Of Latin American Economic Development written by Patrice M. Franko and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
Provides the basic economic tools for students to understand the problems in the countries of Latin America. This third edition analyzes challenges to the neoliberal model of development and highlights macroeconomic changes in the region. It explores the contradictions of growth, and focuses on factors of competitiveness.