Hidden Bibliographic Details
| Other authors / contributors: | Hillman, Arye L., author.
Kojo, Naoko C., author.
International Monetary Fund. Fiscal Affairs Department.
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| ISBN: | 1283559374
9781283559379
9781451875737
1451875738
9781451920338
1451920334
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| Notes: | Includes bibliographical references (pages 34-38).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the primary channel is factor productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is some four times more effective than investment as a channel for increasing growth through fiscal policy. Although the private investment response to fiscal contraction may be minor, high-deficit, low-income countries can nonetheless benefit from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase growth.
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| Other form: | Print version: Baldacci, Emanuele. Growth, governance, and fiscal policy transmission channels in low-income countries. Washington, D.C. : International Monetary Fund, 2003
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