Is The Public Investment Multiplier Higher In Developing Countries

Download Is The Public Investment Multiplier Higher In Developing Countries full books in PDF, epub, and Kindle. Read online Is The Public Investment Multiplier Higher In Developing Countries ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration

Author : Mr.Alejandro Izquierdo
Publisher : International Monetary Fund
ISBN 13 : 151352111X
Total Pages : 47 pages
Book Rating : 4.5/5 (135 download)

DOWNLOAD NOW!

Book Synopsis Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration by : Mr.Alejandro Izquierdo

Download or read book Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration written by Mr.Alejandro Izquierdo and published by International Monetary Fund. This book was released on 2019-12-20 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and to the identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.

How Big (Small?) are Fiscal Multipliers?

Author : Ethan Ilzetzki
Publisher : International Monetary Fund
ISBN 13 : 1455218022
Total Pages : 68 pages
Book Rating : 4.4/5 (552 download)

DOWNLOAD NOW!

Book Synopsis How Big (Small?) are Fiscal Multipliers? by : Ethan Ilzetzki

Download or read book How Big (Small?) are Fiscal Multipliers? written by Ethan Ilzetzki and published by International Monetary Fund. This book was released on 2011-03-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we find that (i) the output effect of an increase in government consumption is larger in industrial than in developing countries, (ii) the fisscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates; (iii) fiscal multipliers in open economies are lower than in closed economies and (iv) fiscal multipliers in high-debt countries are also zero.

Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration

Author : Mr.Alejandro Izquierdo
Publisher : International Monetary Fund
ISBN 13 : 1513525107
Total Pages : 47 pages
Book Rating : 4.5/5 (135 download)

DOWNLOAD NOW!

Book Synopsis Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration by : Mr.Alejandro Izquierdo

The Macroeconomic Effects of Public Investment

Author : Mr.Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 : 1484361555
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)

DOWNLOAD NOW!

Book Synopsis The Macroeconomic Effects of Public Investment by : Mr.Abdul Abiad

Download or read book The Macroeconomic Effects of Public Investment written by Mr.Abdul Abiad and published by International Monetary Fund. This book was released on 2015-05-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Is the Public Investment Multiplier Higher in Developing Countries?

Author : Alejandro Izquierdo
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (112 download)

DOWNLOAD NOW!

Book Synopsis Is the Public Investment Multiplier Higher in Developing Countries? by : Alejandro Izquierdo

Download or read book Is the Public Investment Multiplier Higher in Developing Countries? written by Alejandro Izquierdo and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.

The Direct Employment Impact of Public Investment

Author : Marian Moszoro
Publisher : International Monetary Fund
ISBN 13 : 1513573799
Total Pages : 20 pages
Book Rating : 4.5/5 (135 download)

DOWNLOAD NOW!

Book Synopsis The Direct Employment Impact of Public Investment by : Marian Moszoro

Download or read book The Direct Employment Impact of Public Investment written by Marian Moszoro and published by International Monetary Fund. This book was released on 2021-05-06 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate the direct employment effect of the public investment in key infrastructure—electricity, roads, schools and hospitals, and water and sanitation. Using rich firm-level panel data from 41 countries over 19 years, we estimate that US$1 million of public spending in infrastructure create 3–7 jobs in advanced economies, 10–17 jobs in emerging market economies, and 16–30 jobs in low-income developing countries. As a comparison, US$1 million public spending on R&D yields 5–11 jobs in R&D in OECD countries. Green investment and investment with a larger R&D component deliver higher employment effect. Overall, we estimate that one percent of global GDP in public investment can create more than seven million jobs worldwide through its direct employment effects alone.

Making It Big

Author : Andrea Ciani
Publisher : World Bank Publications
ISBN 13 : 1464815585
Total Pages : 178 pages
Book Rating : 4.4/5 (648 download)

DOWNLOAD NOW!

Book Synopsis Making It Big by : Andrea Ciani

Download or read book Making It Big written by Andrea Ciani and published by World Bank Publications. This book was released on 2020-10-08 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.

Uncertainty and Public Investment Multipliers: The Role of Economic Confidence

Author : William Gbohoui
Publisher : International Monetary Fund
ISBN 13 : 1616356200
Total Pages : 34 pages
Book Rating : 4.6/5 (163 download)

DOWNLOAD NOW!

Book Synopsis Uncertainty and Public Investment Multipliers: The Role of Economic Confidence by : William Gbohoui

Download or read book Uncertainty and Public Investment Multipliers: The Role of Economic Confidence written by William Gbohoui and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates how macroeconomic uncertainty affects the fiscal multiplier of public investment. In theory, uncertainty can reduce the multiplier if the private sector becomes more cautious and does not respond to the fiscal stimulus. Conversely, it can increase the fiscal multiplier if public investment shocks improve private agents’ expectations about future economic outlook, and lead to larger private spending. Using the disagreement about GDP forecasts as a proxy for uncertainty, we find that unexpected increases in public investment have larger and longer-lasting effects on output, investment, and employment during periods of high uncertainty, with multipliers above 2, and the larger multipliers are not driven by economic slack. Public investment shocks are also found to boost private sector confidence during heightened uncertainty, driving-up expectations about future economic development which in turn magnify private sector response to the initial stimulus.

Debt Sustainability, Public Investment, and Natural Resources in Developing Countries

Author : Mr.Giovanni Melina
Publisher : International Monetary Fund
ISBN 13 : 1475521073
Total Pages : 77 pages
Book Rating : 4.4/5 (755 download)

DOWNLOAD NOW!

Book Synopsis Debt Sustainability, Public Investment, and Natural Resources in Developing Countries by : Mr.Giovanni Melina

Download or read book Debt Sustainability, Public Investment, and Natural Resources in Developing Countries written by Mr.Giovanni Melina and published by International Monetary Fund. This book was released on 2014-04-01 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity constraints. The government has access to different types of debt (concessional, domestic and external commercial) and a resource fund, which can be used to finance public investment plans. The resource fund can also serve as a buffer to absorb fiscal balances for given projections of resource revenues and public investment plans. When the fund is drawn down to its minimal value, a combination of external and domestic borrowing can be used to cover the fiscal gap in the short to medium run. Fiscal adjustments through tax rates and government non-capital expenditures—which may be constrained by ceilings and floors, respectively—are then triggered to maintain debt sustainability. The paper illustrates how the model can be particularly useful to assess debt sustainability in countries that borrow against future resource revenues to scale up public investment.

Better Spending for Better Lives

Author : Alejandro Izquierdo
Publisher :
ISBN 13 : 9781597823302
Total Pages : pages
Book Rating : 4.8/5 (233 download)

DOWNLOAD NOW!

Book Synopsis Better Spending for Better Lives by : Alejandro Izquierdo

Download or read book Better Spending for Better Lives written by Alejandro Izquierdo and published by . This book was released on 2018-08-31 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effectiveness of Fiscal Policy in Stimulating Economic Activity

Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)

DOWNLOAD NOW!

Book Synopsis The Effectiveness of Fiscal Policy in Stimulating Economic Activity by : Richard Hemming

Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.

Private Finance for Development

Author : Hilary Devine
Publisher : International Monetary Fund
ISBN 13 : 1513571567
Total Pages : 161 pages
Book Rating : 4.5/5 (135 download)

DOWNLOAD NOW!

Book Synopsis Private Finance for Development by : Hilary Devine

Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.

World Development Report 2009

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 082137608X
Total Pages : 410 pages
Book Rating : 4.8/5 (213 download)

DOWNLOAD NOW!

Book Synopsis World Development Report 2009 by : World Bank

Download or read book World Development Report 2009 written by World Bank and published by World Bank Publications. This book was released on 2008-11-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.

A Mandate to Grow

Author : Eduardo A. Cavallo
Publisher : Inter-American Development Bank
ISBN 13 :
Total Pages : 121 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!

Book Synopsis A Mandate to Grow by : Eduardo A. Cavallo

Download or read book A Mandate to Grow written by Eduardo A. Cavallo and published by Inter-American Development Bank. This book was released on 2018-03-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. Viewing the debate from this long-term perspective allows for a focus on the structural factors that have prevented Latin America and the Caribbean from reaching the growth potential required to keep pace with faster growing regions and to fulfill the aspirations of its population.

Monetary Economics in Emerging and Developing Countries

Author : Joshua Yindenaba Abor
Publisher : Taylor & Francis
ISBN 13 : 1040175880
Total Pages : 338 pages
Book Rating : 4.0/5 (41 download)

DOWNLOAD NOW!

Book Synopsis Monetary Economics in Emerging and Developing Countries by : Joshua Yindenaba Abor

Download or read book Monetary Economics in Emerging and Developing Countries written by Joshua Yindenaba Abor and published by Taylor & Francis. This book was released on 2024-11-07 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary economics is concerned with the role of money in economic activities. The development of monetary theory and policy plays a significant role in the growth and development of various economies. This has far-reaching implications for various sectors of the economy through several channels, including inflation, employment, interest rates, exchange rates, consumption, government spending, investment, and the level of economic activity. Much of the literature to date has focused on developed economies. This book, however, is an essential guide to the monetary and economic systems of emerging and developing countries. The book contributes to the role of monetary policy in macroeconomic stabilisation by examining the characteristics and recent developments in emerging and developing countries’ monetary and economic systems, including lessons learned in monetary policy and the associated challenges, the role of building blocks of monetary theory, and policy frameworks used in practice, especially looking at why and how these issues are relevant in these economies. It provides theoretical underpinnings and critical issues relating to various aspects of monetary theory, including the role of money, monetary systems, money supply, demand for money, central banking, monetary policy, and the instruments for its implementation in emerging and developing countries. Furthermore, it presents relevant cases, illustrating the intricacies of the monetary systems in these countries. This invaluable resource elucidates the significant differences between developed and emerging and developing economies. It contributes to the field by providing a comprehensive understanding of monetary economics for students, scholars, researchers, policymakers, and monetary and economic policy practitioners.

Private Capital Flows to Developing Countries

Author :
Publisher : World Bank Publications
ISBN 13 : 9780195211160
Total Pages : 432 pages
Book Rating : 4.2/5 (111 download)

DOWNLOAD NOW!

Book Synopsis Private Capital Flows to Developing Countries by :

Download or read book Private Capital Flows to Developing Countries written by and published by World Bank Publications. This book was released on 1997 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.

Assessing Aid

Author :
Publisher : World Bank Publications
ISBN 13 : 9780195211238
Total Pages : 164 pages
Book Rating : 4.2/5 (112 download)

DOWNLOAD NOW!

Book Synopsis Assessing Aid by :

Download or read book Assessing Aid written by and published by World Bank Publications. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing Aid determines that the effectiveness of aid is not decided by the amount received but rather the institutional and policy environment into which it is accepted. It examines how development assistance can be more effective at reducing global poverty and gives five mainrecommendations for making aid more effective: targeting financial aid to poor countries with good policies and strong economic management; providing policy-based aid to demonstrated reformers; using simpler instruments to transfer resources to countries with sound management; focusing projects oncreating and transmitting knowledge and capacity; and rethinking the internal incentives of aid agencies.