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We identify structural breaks in economic growth in 140 countries and use these to define ""growth spells:"" periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries...
Persistent link: https://www.econbiz.de/10012677563
sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on … significant contribution to growth, while maintaining fiscal sustainability …
Persistent link: https://www.econbiz.de/10014409427
A common dilemma facing governments around the world is how to meet the sizeable fiscal costs of providing and maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules, budgetary reforms, tax policy and administration measures,...
Persistent link: https://www.econbiz.de/10012677684
of consensus on environmental performance, and conflation of risk and sustainability objectives. While sovereign ESG … realities in implementing a sustainability strategy within the sovereign debt asset class. This necessitates a reevaluation of … sustainability measurement frameworks …
Persistent link: https://www.econbiz.de/10015058411
sustainability. Moreover, they have pursued pro-cyclical policies, particularly by raising expenditures in g …
Persistent link: https://www.econbiz.de/10012677792
Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a … challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC … sustainability in completion point countries will require continued structural reforms, timely donor support …
Persistent link: https://www.econbiz.de/10012677794
gauging their fiscal vulnerability and sustainability from the angle of managing exhaustible oil wea …
Persistent link: https://www.econbiz.de/10012677834
We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio … can be modified to create a more accurate representation of debt sustainability for a country that receives significant … remittance inflows. The main result is that inclusion of remittances into the traditional debt sustainability analysis alters the …
Persistent link: https://www.econbiz.de/10012677866
This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to...
Persistent link: https://www.econbiz.de/10012677876
sustainability. This consistency is important within a monetary union because fiscal policy is the primary instrument through which …
Persistent link: https://www.econbiz.de/10012677509