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Federalism, fiscal space, and public investment spending : do fiscal rules impose hard budget constraints?
Chakraborti, Pinaki - 2017
The core emphasis of rules-based fiscal legislation at the subnational level in India is to achieve debt sustainability through a numerical ceiling on borrowing and the use of borrowed resources for public capital investment by phasing out revenue deficits. Using the Arellano Bond Panel...
Persistent link: https://www.econbiz.de/10011591040
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To borrow or not to borrow : empirical evidence from the public debt sustainability of Pakistan
Islam, Wajid; Ahmed, Junaid; Faraz, Naseem - 2023
This study aims to evaluate the public debt sustainability of Pakistan using the debt sustainability analysis (DSA) framework and fiscal reaction function (FRF). For the empirical analysis, it uses relevant important macroeconomic variables, such as public debt, external debt, primary balance,...
Persistent link: https://www.econbiz.de/10013533267
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Construction of an index tracker for debt sustainability assessment in the Philippines
Allado, Armin Paul D.; Lim, Lance Nicklaus S.; Tulauan, … - 2022
With economies around the world facing more dire challenges as an immediate result of the COVID-19 pandemic, the need for national governments to borrow funds has grown. The abrupt increase in debt level highlights the importance of implementing suitable models to project emerging debt scenarios...
Persistent link: https://www.econbiz.de/10013390804
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The fiscal risk of local government revenue in the People's Republic of China
Fan, Ziying; Wan, Guanghua - 2016
downward risk problems. This paper reviews the fiscal and taxation reforms in the central and local governments of the PRC and … promote the construction of local infrastructure. Earmarked transfers had an effect, but lump-sum transfers did not. Results … showed every 1% increase in earmarked transfers to be associated with a 5% increase in local spending on infrastructure …
Persistent link: https://www.econbiz.de/10011453331
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Fiscal policy conditions for government budget stability and economic recovery : comparative analysis of Japan and Greece
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Mizoguchi, … - 2018
In the literature regarding fiscal sustainability, the Domar condition and Bohn's condition are often used to check whether a government's debt situation is in a dangerous zone. This paper first shows that the Domar condition is obtained only from the government budget constraint (namely the...
Persistent link: https://www.econbiz.de/10011868852
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Revisiting the public debt stability condition : rethinking the Domar condition
Yoshino, Naoyuki; Miyamoto, Hiroaki - 2020
This paper revisits the fiscal sustainability condition proposed by Domar (1944). The Domar condition is derived from the government budget constraint and thus focuses on the supply side of the government bond. By considering the demand for the government bond, this paper finds that public debt...
Persistent link: https://www.econbiz.de/10012219884
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Effects of infrastructure projects on government revenue : the case of expressway projects in the Northern Midland and Mountainous area of Viet Nam
Yoshino, Naoyuki; Truong Thi Hoa - 2020
This paper examines the effects of infrastructure projects on economic performance by studying the changes in … from business activities, and total revenue, because they reflect the economic performance that the infrastructure … investment creates. To investigate the impacts of infrastructure projects, we utilize the difference-in-difference (DID) method …
Persistent link: https://www.econbiz.de/10012262644
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Case study of central and local government finance in Japan
Bessho, Shun-ichiro - 2016
This paper aims to provide an overview of the basics of Japan's local public administration and finance system and to analyze how Japan's municipalities restore their fiscal balance after a fiscal shock. In Japan, local governments play a major role in redistribution. Combined with regional...
Persistent link: https://www.econbiz.de/10011557018
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Natural disasters, public spending, and creative destruction : a case study of the Philippines
Jha, Shikha; Martinez, Arturo; Quising, Pilipinas; … - 2018
Typhoons, floods, and other weather-related shocks can inflict suffering on local populations and create life-threatening conditions for the poor. Yet, natural disasters also present a development opportunity to upgrade capital stock, adopt new technologies, enhance the risk-resiliency of...
Persistent link: https://www.econbiz.de/10011804470
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Long-term issues for fiscal sustainability in emerging Asia
Kawai, Masahiro; Morgan, Peter J. - 2013
sustainability risk for emerging Asian economies - such as large-scale subsidies, infrastructure investment requirements, aging and …
Persistent link: https://www.econbiz.de/10009782133