Debt sustainability, public investment, and natural resources in Developing countries : the DIGNAR model /

Debt sustainability, public investment, and natural resources in Developing countries : the DIGNAR model /

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Bibliographic Details
Author / Creator:Melina, Giovanni, author.
Imprint:[Washington, District of Columbia] : International Monetary Fund, 2014.
©2014
Description:1 online resource (42 pages) : illustrations (some color)
Language:English
Series:IMF Working Paper ; WP/14/50
IMF working paper ; WP/14/50.
Subject:
Debts, Public -- Developing countries -- Econometric models.
Economic development -- Developing countries -- Econometric models.
Public investments -- Developing countries -- Econometric models.
Debts, Public -- Econometric models.
Economic development -- Econometric models.
Public investments -- Econometric models.
Developing countries.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12502884
Hidden Bibliographic Details
Other authors / contributors:Yang, Shu-Chun Susan, 1971- author.
Zanna, Luis-Felipe, author.
International Monetary Fund, issuing body.
ISBN:9781484347942
1484347943
9781475515459
Notes:Includes bibliographical references.
Online resource; title from PDF title page (ebrary, viewed May 1, 2014).
Summary:This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity c.
Other form:Print version: Melina, Giovanni. Debt sustainability, public investment, and natural resources in Developing countries: the DIGNAR model. [Washington, District of Columbia] : International Monetary Fund, ©2014 approximately 42 pages IMF working paper ; WP/14/50 9781475515459
Table of Contents:
  • Cover; Contents; I. Introduction; II. The DIGNAR Model; A. Households; B. Firms; C. The Government; D. Identities and Market Clearing Conditions; III. Calibration; IV. Scaling up Public Investment with a Resource Windfall; A. The Spend-As-You-Go Approach versus the Delinked Investment Approach; B. Front Loading Public Investment with Commercial Borrowing; C. Domestic versus External Commercial Borrowing; D. Public Investment Efficiency, Return on Public Capital, and Debt Sustainability; V. Conclusions; Tables; 1. Baseline calibration; Figures.
  • 1. Different speeds of investment scaling-ups. X-axis is in years. 2. Different degrees of frontloading in investment scaling-ups. X-axis is in years.; 3. Spend-as-you-go vs. delinked investment approach: no additional commercial borrowing. X-axis is in years; 4. Spend-as-you-go vs. delinked investment approach (continued): no additional commercial borrowing. X-axis is in years; 5. Various degrees of investment frontloading: external commercial borrowing. X axis is in years; 6. Various degrees of investment frontloading (continued): external commercial borrowing. X-axis is in years.
  • 7. Various degrees of investment frontloading (concluded): external commercial borrowing. X-axis is in years8. Domestic vs. external commercial borrowing. X-axis is in years; 9. Increasing public investment efficiency and/or higher return to public capital: external commercial borrowing and adverse natural resource scenario. X-axis is in years; VI. References.

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