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unsustainable public debt dynamics and enormous contingent liabilities across sectors and countries coinciding with strong, non …
Persistent link: https://www.econbiz.de/10011606273
The financial crisis and recession have left a legacy of unusually large fiscal deficits and growing sovereign debt …. Fiscal space is defined as the room the government has to borrow before it hits a debt limit, the level of debt to GDP at … which the debt dynamics become unstable, unless the government undertakes exceptional fiscal action. The debt limit is a …
Persistent link: https://www.econbiz.de/10011430862
This paper assesses recent theorising and empirical evidence on the impact of fiscal policy—taxes, public expenditures and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low-income countries and compares the evidence for low-income...
Persistent link: https://www.econbiz.de/10010279253
show mixed results for WAEMU countries, while for four out of six WAMZ countries (Gambia, Liberia, Nigeria, and Sierra …
Persistent link: https://www.econbiz.de/10010311847
This study examines reforms of public expenditure in industrialised countries over the past two decades. We distinguish ambitious and timid reformers and analyse in detail reform experiences in eight case studies of ambitious reform episodes. We find that ambitious reform countries reduce...
Persistent link: https://www.econbiz.de/10011604680
This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal...
Persistent link: https://www.econbiz.de/10010327194
-2003 period is not maintained for the more recent 1975-2003 period, which is characterised by the largest GDP deficit ratios of …
Persistent link: https://www.econbiz.de/10010275771
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10011422176
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10010264372
During the last three decades there has been an almost continuous undermining of the public interest by private interests operating either outside or inside Greek public administration. The result of this infiltration has been a gradual loss of bureaucratic autonomy to pursue the public...
Persistent link: https://www.econbiz.de/10010270514