Fiscal Policy And Long Term Growth
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Fiscal Policy And Long Term Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-20
Fiscal Policy And Long Term Growth written by International Monetary Fund 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 2015-04-20 with Business & Economics categories.
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.
Fiscal Policy And Long Run Growth
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Author : Mr.Vito Tanzi
language : en
Publisher: International Monetary Fund
Release Date : 1996-10-01
Fiscal Policy And Long Run Growth 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 1996-10-01 with Business & Economics categories.
This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries’ economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.
Fiscal Policy Stabilization And Growth
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Author : Guillermo E. Perry
language : en
Publisher: World Bank Publications
Release Date : 2007-10-19
Fiscal Policy Stabilization And Growth written by Guillermo E. Perry 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 2007-10-19 with Business & Economics categories.
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Is Fiscal Policy The Answer
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Author : Blanca Moreno-Dodson
language : en
Publisher: World Bank Publications
Release Date : 2012-10
Is Fiscal Policy The Answer written by Blanca Moreno-Dodson 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 2012-10 with Business & Economics categories.
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.
Fiscal Reforms Long Term Growth And Income Inequality
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Author : Mr.Santiago Acosta Ormaechea
language : en
Publisher: International Monetary Fund
Release Date : 2017-06-30
Fiscal Reforms Long Term Growth And Income Inequality written by Mr.Santiago Acosta Ormaechea 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 2017-06-30 with Business & Economics categories.
We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evaluation of growth-friendly fiscal reforms during 1975-2010. We find that in reform countries the annual growth rate of real GDP was on average about 1 percentage point above their synthetic units 10 years after each respective reform. Moreover, countries which were initially less developed seemed to experience a larger growth impact after their reforms. Results are broadly robust to controlling for structural reforms on business regulation, financial market, labor market, and legal and product markets, which may also affect growth. Our findings also suggest that inequality is not affected by the growth-friendly fiscal reforms analyzed in this paper.
Macroeconomic Policy
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Author : Farrokh Langdana
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-04-05
Macroeconomic Policy written by Farrokh Langdana and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-05 with Business & Economics categories.
This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.
Macroeconomic Policies And Long Term Growth
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Author : Mr.Mohsin S. Khan
language : en
Publisher: International Monetary Fund
Release Date : 1991-03
Macroeconomic Policies And Long Term Growth written by Mr.Mohsin S. Khan 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 1991-03 with Business & Economics categories.
This paper reviews the theoretical and empirical aspects of the relationship between macroeconomic policies and the long-run rate of growth of GNP. The macroeconomic policies examined include fiscal policies, monetary and interest rate policies, external policies, and policies to reform the goods and labor markets, including adjustments of producer prices and wages. In general, the effects of these policies on growth operate directly or indirectly through their influence on investment in physical and human capital, and on factor productivity. The available empirical evidence confirms the effects of specific macroeconomic and financial policies on long-run growth.
The Growth And Stabilization Properties Of Fiscal Policy In Malaysia
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Author : Mr.Sohrab Rafiq
language : en
Publisher: International Monetary Fund
Release Date : 2013-06-19
The Growth And Stabilization Properties Of Fiscal Policy In Malaysia written by Mr.Sohrab Rafiq 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 2013-06-19 with Business & Economics categories.
This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the effectiveness of fiscal policy alters across macroeconomic states. The estimates show that since the Asian financial crisis the medium- and long-run effect of fiscal policy spending has declined. Some of this is down to greater credit availability and less investment spending.
Macroeconomic Policies Crises And Long Term Growth In Indonesia 1965 90
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Author : Wing Thye Woo
language : en
Publisher: World Bank Publications
Release Date : 1994-01-01
Macroeconomic Policies Crises And Long Term Growth In Indonesia 1965 90 written by Wing Thye Woo 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 1994-01-01 with Business & Economics categories.
Living Standards Measurement Studies Paper 104. The impact of children's health on their schooling success has been the focus of much research. While studies have concluded that there is a correlation between the health of the children and their performance at school, there is an increasing argument surrounding the limitations of the research. Many such studies measure schooling achievement through school attendance rates. This paper analyzes the failure of research to control for the fact that schooling and health are determined simultaneously. Such failure would lead to biased estimates. The study explores the possible biases and provides new evidence on the interrelationship between child health and schooling.
Walking Hand In Hand
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Author : Mr.Carlo Cottarelli
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-01
Walking Hand In Hand written by Mr.Carlo Cottarelli 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 2012-05-01 with Business & Economics categories.
Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run.