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Public investment, growth, and debt sustainability : putting together the pieces

Buffie, Edward E.; Berg, Andrew; Pattillo, Catherine A.; … - 2012

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv)...

Persistent link: https://www.econbiz.de/10009618586

Investment and Growth Dynamics : An Empirical Assessment Applied to Benin

Samake, Issouf - 2008

We investigate the nexus of public and private investment and assess the impact of both types of investment on growth. Using annual data for 1965-2005, we employ a coherent set of structural VAR outputs to model investment and growth in Benin. We find that in addition to institutional and...

Persistent link: https://www.econbiz.de/10014409029

Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries : The Case of Cameroon

Samake, Issouf - 2013

This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as...

Persistent link: https://www.econbiz.de/10014409427

Investing Volatile Oil Revenues in Capital-Scarce Economies : An Application to Angola

Richmond, Christine - 2013

Natural resource revenues are an increasingly important financing source for public investment in many developing economies. Investing volatile resource revenues, however, may subject an economy to macroeconomic instability. This paper applies to Angola the fiscal framework developed in Berg and...

Persistent link: https://www.econbiz.de/10014409430

The Quality of Public Investment

Chakraborty, Shankha - 2009

This paper develops a growth model with specialized goods where inefficient and corrupt bureaucracies interact with the provision of public investment services in affecting the productivity of private capital, specialization, and growth. The model provides potential explanations for the...

Persistent link: https://www.econbiz.de/10012677815

A Review of Capital Budgeting Practices

Jacobs, Davina F. - 2008

A key challenge in government budgeting is to define an appropriate balance between current and capital expenditures. Budgeting for government capital investment also remains not well-integrated into the formal budget preparation process in many countries. This paper aims to provide an overview...

Persistent link: https://www.econbiz.de/10012677618

Public Investment in Resource-Abundant Developing Countries.

Berg, Andrew - 2012

Natural resource revenues provide a valuable source to finance public investment in developing countries, which frequently face borrowing constraints and tax revenue mobilization problems. This paper develops a dynamic stochastic small open economy model to analyze the macroeconomic effects of...

Persistent link: https://www.econbiz.de/10012690162

Resource Windfalls, Optimal Public Investment and Redistribution : The Role of Total Factor Productivity and Administrative Capacity

Gelb, Alan H - 2012

This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as...

Persistent link: https://www.econbiz.de/10012690171

Public Investment as an Engine of Growth

Warner, Andrew M. - 2014

This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On...

Persistent link: https://www.econbiz.de/10012690573

The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector

Mercer-Blackman, Valerie - 2008

-2002 Survey of Manufacturers database in Colombia to analyze this question. We estimate the effect of the R&D tax deduction … instituted in Colombia using Zellner's Seemingly Unrelated Regressions method, and find that the elasticity of demand of R …&D investment in manufacturing is quite high in Colombia compared to other countries, particularly for smalle …

Persistent link: https://www.econbiz.de/10012677634

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