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Macrofinancial linkages have long been at the core of the IMF's mandate to oversee the stability of the global financial system. With the advent of the economic crisis, the Fund has drawn on this research in order to contribute to critical debates on the nature of appropriate policy responses at...
Persistent link: https://www.econbiz.de/10014411746
Following very strong growth during the period 2000-12, emerging market economies (EMEs) experienced a slowdown in the last couple of years. This paper examines the supply-side drivers of the strong growth performance of 63 EMEs and investigates if the recent slowdown in growth is transitory or...
Persistent link: https://www.econbiz.de/10014411813
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase Productivity and...
Persistent link: https://www.econbiz.de/10014411816
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and GDP growth in India. We collect data on a sample of 14 Indian states over the period 1989�2013, and use the cross-sectionally augmented distributed lag (CSDL) approach of Chudik...
Persistent link: https://www.econbiz.de/10014411825
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not … stimulus in the short-run, the expansionary effects of higher public investment are substantially strengthened with an … presents a window of opportunity to finance higher public investment at historically favorable rates …
Persistent link: https://www.econbiz.de/10014411830
directly or indirectly through investment. In contrast to earlier studies, we conclude that there is some evidence of positive …-eligible countries to reach higher growth, but it remains unclear whether this is through higher investment or another channel. Also, the …
Persistent link: https://www.econbiz.de/10014411832
Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in …
Persistent link: https://www.econbiz.de/10014411857
for scaling up public investment and expanding social safety nets in a general equilibrium setting. First, it assesses the … macro-fiscal implications of alternative fiscal rules for public investment, and, second, it explicitly accounts for … uncertainty of resources output and prices, while delivering growth benefits through higher public investment. The scaling …
Persistent link: https://www.econbiz.de/10014411897
Using a comprehensive database on bank credit, covering 135 developing countries over the period 1960�2011, we identify, document, and compare the macro-economic dynamics of credit booms across low-and middle-income countries. The results suggest that while the duration and magnitude of credit...
Persistent link: https://www.econbiz.de/10014411922
Persistent link: https://www.econbiz.de/10014411982