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This paper revisits options for fiscal anchors in Australia against the backdrop of a medium-term budget balance anchor that has led to larger than expected upward drift in the net debt to GDP ratio since the end of the mining investment boom. The IMF's G20MOD model is used to compare the budget...
Persistent link: https://www.econbiz.de/10012929922
This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are...
Persistent link: https://www.econbiz.de/10013243067
important growth spillovers in the region, and identifies the main source countries and those most vulnerable to the economic … conditions of others. Estimates show that in the short run, positive idiosyncratic shocks to regional trading partners' growth … significantly increase growth in the average sub-Saharan African country, while in the long-run the annual impact of growth in …
Persistent link: https://www.econbiz.de/10012864108
-up scenarios, analyzing how improving the efficiency of capital spending and of tax revenue collection affect growth and debt … learn how to invest more efficiently, accelerating public capital accumulation and therefore growth. We discuss the pros and …, achieving higher GDP growth with substantially lower debt-to-GDP ratios, and will help policymakers efficiently meet the …
Persistent link: https://www.econbiz.de/10012962142
on the growth and debt sustainability. The paper employs an open economy dynamic general equilibrium model to assess the … benefits of a large public investment through growth-enhancing increase in domestic energy supply and receipts from selling …
Persistent link: https://www.econbiz.de/10012977843
growth, real wages and the supply of public services. Senegal does not need, however, to undertake such difficult fiscal …
Persistent link: https://www.econbiz.de/10013055672
India's real GDP growth slipped substantially after the North Atlantic financial crisis. Return to a sustained high … growth trajectory is feasible but it will need much more focused attention to the revival of manufacturing and to the … ahead will be more difficult in view of the protracted slowdown in global growth and trade …
Persistent link: https://www.econbiz.de/10013024439
of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then …
Persistent link: https://www.econbiz.de/10013053046
Should fiscal consolidations be front-loaded or proceed at a more steady pace, and how does this affect growth? We make … an attempt to address this question using a three-step methodology. First, we modify a standard regression of growth on …
Persistent link: https://www.econbiz.de/10013071926
The paper reviews recent developments in the pass-through of international to domestic petroleum product prices, in the different fuel pricing regimes, and in fuel subsidies in a range of emerging market and developing economies. The main finding of the paper is the limited price pass-through in...
Persistent link: https://www.econbiz.de/10012777198