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Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries [electronic resource] Kojo, Naoko C..

Author/Creator:
Kojo, Naoko C.
Publication:
Washington, D.C. : International Monetary Fund, 2003.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 03/237.
IMF Working Papers; Working Paper No. 03/237
Format/Description:
Government document
Book
1 online resource (39 p.)
Local subjects:
Budget composition.
Budget constraint.
Budget deficit.
Budget deficits.
Budget imbalances.
Budget support.
Budgetary allocations.
Budgetary consolidation.
Capital expenditure.
Capital expenditures.
Composition of expenditure.
Composition of government expenditure.
Composition of government spending.
Composition of public spending.
Deficit.
Economic growth.
Excessive deficits.
Expansionary fiscal.
Expansionary fiscal contraction.
Expansionary fiscal contractions.
Expenditure.
Expenditure categories.
Expenditure composition.
Expenditures.
Fiscal accounts.
Fiscal adjustment.
Fiscal adjustments.
Fiscal affairs.
Fiscal affairs department.
Fiscal austerity.
Fiscal balance.
Fiscal consolidations.
Fiscal contraction.
Fiscal contractions.
Fiscal deficit.
Fiscal deficit variable.
Fiscal deficits.
Fiscal expansion.
Fiscal expansions.
Fiscal policies.
Fiscal Policy.
Fiscal policy variables.
Fiscal stability.
Fiscal surplus.
Fiscal sustainability.
Fiscal tightening.
Fiscal vulnerabilities.
Foreign capital.
Governance.
Government budget.
Government budget deficits.
Government expenditure.
Government expenditures.
Government revenue.
Government spending.
Health expenditure.
Increase in capital spending.
Public debt.
Public deficits.
Public expenditure.
Public Expenditures, Investment, and Finance.
Public finance.
Public spending.
Reduction in public spending.
Reductions in public spending.
Revenue collection.
Size of government spending.
Structural adjustment.
Tax increases.
Tax revenue.
Tax revenues.
Taxation.
Taxes on labor.
Total expenditure.
Burkina Faso.
Cameroon.
Central African Republic.
Gambia, The.
Georgia.
Guinea-Bissau.
Macedonia, former Yugoslav Republic of.
Mauritania.
Summary:
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.
Notes:
Description based on print version record.
Contributor:
Baldacci, Emanuele.
Hillman, Arye L.
Kojo, Naoko C.
Other format:
Print Version:
ISBN:
1451875738:
9781451875737
ISSN:
1018-5941
Publisher Number:
10.5089/9781451875737.001
Access Restriction:
Restricted for use by site license.
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