Fiscal Policy and Private Saving Behavior in Developing Countries
Author : Nadeem Ul Haque
Publisher :
Page : 44 pages
File Size : 21,31 MB
Release : 1986
Category : Consumers
ISBN :
Author : Nadeem Ul Haque
Publisher :
Page : 44 pages
File Size : 21,31 MB
Release : 1986
Category : Consumers
ISBN :
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 24 pages
File Size : 14,16 MB
Release : 1987-07-01
Category : Business & Economics
ISBN : 145197048X
Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private sector have different planning horizons. The paper finds no empirical support for differing planning horizons across sectors in a group of 16 developing economies and, therefore, provides empirical evidence for the equivalence hypothesis.
Author : Ajay Chhibber
Publisher : World Bank Publications
Page : 48 pages
File Size : 20,88 MB
Release : 1990
Category : Finance, Public
ISBN :
The key to sustained recovery in developing countries is the revival of private investment. This revival requires a coordinated set of credible policies - fiscal, exchange rate, tax, and public expenditure restructuring. In several countries the debt overhang is also an obstacle to achieving that credibility.
Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
Page : 184 pages
File Size : 42,50 MB
Release : 1997-01-01
Category : Business & Economics
ISBN : 9780821338520
World Bank Technical Paper No. 349. The Bank's approach to water resources development has shifted from one of construction activities to one of improved management quality, creating a new generation of water-related projects and the need for new evaluation procedures. This paper addresses the methodology for economic evaluation of this new group of projects and draws on the experience of the recently approved Mexico Water Resources Management project.
Author : Roberto Perotti
Publisher : World Bank Publications
Page : 46 pages
File Size : 25,88 MB
Release : 2007
Category : Economic development
ISBN : 7092014492
This paper surveys fiscal policy in developing countries from the point of view of long-run growth. The first section reviews existing methodologies to estimate the effects of fiscal policy shocks and of systematic fiscal policy, with time series or with cross-sectional methods, and their applicability to developing countries. The second section surveys optimal fiscal policy in developing countries, by considering the role of the intertemporal government budget, and sustainability and solvency. It also reviews the fuzzy debate on "fiscal space" and "macroeconomic space" - and the usefulness (or lack thereof) of these terms for policy analysis. The third section asks what theory tells us about the optimal cyclical behavior of fiscal policy in developing countries. It shows that it very much depends on the assumptions about the interactions between credit market imperfections at the individual, firms, or government level, and on the supply of external funds to the country. Different sets of assumptions lead to different implications about optimal cyclical behavior. The available evidence on the cyclical behavior of fiscal policy, and possible reasons for the observed prevalence of a procyclical behavior in developing countries, is also reviewed. If one agrees that fiscal policy is indeed less countercyclical than we think is optimal, the issue is how to correct the problem. One obvious question is why government do not self-insure, i.e. why they do not accumulate assets in upturns and decumulate them in downturns. This leads to the analysis of fiscal rules and stabilization funds, in the fourth section. The last section concludes with what the author considers important research and policy questions in each part.
Author : Richard Hemming
Publisher : International Monetary Fund
Page : 62 pages
File Size : 22,31 MB
Release : 2002-12
Category : Business & Economics
ISBN :
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author : Vittorio Corbo
Publisher : World Bank Publications
Page : 34 pages
File Size : 44,3 MB
Release : 1991
Category : Consumption (Economics)
ISBN :
Developing countries can increase their national saving rate best by increasing government saving. The most effective way to increase national saving is through permanent tax hike, a cut in current public spending, and a macroeconomic framework in which inflation is low and incentives are predictable.
Author : Masao Ogaki
Publisher :
Page : 38 pages
File Size : 24,14 MB
Release : 2006
Category :
ISBN :
The impact of changes in real interest rates on saving and growth is a central issue in development economics. According to one familiar view, a financial liberalization program which increases real interest rates should encourage saving, thereby boosting investment and growth. While such liberalizations have indeed typically succeeded in raising real interest rates, their impact on private saving has been mixed. This paper uses macroeconomic data for a sample of countries with diverse income levels to estimate a model in which the intertemporal elasticity of substitution varies with the level of wealth. The estimated parameters are then used to calculate, in the context of a simple endogenous growth model, the responsiveness of saving to real interest rate changes for countries at differing stages of development.
Author : Niels Hermes
Publisher :
Page : 40 pages
File Size : 42,13 MB
Release : 2001
Category : Fiscal policy
ISBN :
Author : Eprime Eshag
Publisher : Cambridge University Press
Page : 316 pages
File Size : 27,16 MB
Release : 1983
Category : Business & Economics
ISBN : 9780521270496
Consideration on the use of fiscal and monetary policies in less developed countries to overcome the three sets of obstacles to development largely because of socio-political constraints. The three major obstacles to development are: inadequate investment; misallocation of investment resources; and internal and external imbalance i.e. inflation and balance of payments deficits.