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Local Government Financing Platforms in China : A Fortune or Misfortune?

Lu, Yinqiu - 2014

China's rapid credit expansion in 2009–10 brought local government financing platforms (LGFPs) into the spotlight. This paper discusses their function, reasons behind their recent expansion, and risks they are posing to the financial sector, local governments, and sovereign balance sheet. This...

Persistent link: https://www.econbiz.de/10013061326

Trends and Challenges in Infrastructure Investment in Low-Income Developing Countries

Gurara, Daniel - 2017

This paper examines trends in infrastructure investment and its financing in low-income developing countries (LIDCs …). Following an acceleration of public investment over the last 15 years, the stock of infrastructure assets increased in LIDCs …, even though large gaps remain compared to emerging markets. Infrastructure in LIDCs is largely provided by the public …

Persistent link: https://www.econbiz.de/10012942335

Public Investment in a Developing Country Facing Resource Depletion

Alter, Adrian - 2016

This paper analyzes the tradeoffs between savings, debt and public investment in the Republic of Congo, a developing country with looming oil exhaustibility concerns. Our results highlight the risks to fiscal and capital sustainability of oil exporting countries from large scaling-up in public...

Persistent link: https://www.econbiz.de/10012999764

Investing to Mitigate and Adapt to Climate Change : A Framework Model

Bonen, Tony - 2017

We propose a macroeconomic model to assess optimal public policy decisions in the face of competing funding demands for climate change action versus traditional welfare-enhancing capital investment. How to properly delineate the costs and benefits of traditional versus adaption-focused...

Persistent link: https://www.econbiz.de/10012967108

Donor Competition for Aid Impact, and Aid Fragmentation

Annen, Kurt - 2012

This paper shows that donors that maximize relative aid impact spread their budgets across many recipient countries in a unique Nash equilibrium, explaining aid fragmentation. This equilibrium may be inefficient even without fixed costs, and the inefficiency increases in the equality of donors'...

Persistent link: https://www.econbiz.de/10013098604

Financial Intermediation Costs in Low-Income Countries : The Role of Regulatory, Institutional, and Macroeconomic Factors

Poghosyan, Tigran - 2012

We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for financial intermediation costs at the bank level, we find that within LICs a...

Persistent link: https://www.econbiz.de/10013102263

Tariff-Tax Reforms in Large Economies

Ganelli, Giovanni - 2012

This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the...

Persistent link: https://www.econbiz.de/10013102266

The Effects of Government Spending Under Limited Capital Mobility

Shen, Wenyi - 2012

This paper studies the effects of government spending under limited international capital mobility, as featured by most developing countries. While external financing of government debt mitigates the crowding-out effect, it generates real appreciation, which contracts traded output and lowers...

Persistent link: https://www.econbiz.de/10013102275

Capital Inflows, Financial Development, and Domestic Investment : Determinants and Inter-Relationships

Luca, Oana - 2012

We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were...

Persistent link: https://www.econbiz.de/10013102284

Tracking Short-Term Dynamics of Economic Activity in Low-Income Countries in the Absence of High-Frequency GDP Data

Opoku-Afari, Maxwell - 2012

This paper uses a set of routinely collected high-frequency data in low-income countries (LICs) to construct an aggregate and a comprehensive index of economic activity which could serve (i) as a measure of the direction of economic activity; and (ii) as a useful input in analyzing...

Persistent link: https://www.econbiz.de/10013102286

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