Public Debt and Productivity : The Difficult Quest for Growth in Jamaica /
The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth. Looking at the specific channels through which high debt affects pro...
| मुख्य लेखक: | |
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| स्वरूप: | पत्रिका |
| भाषा: | English |
| प्रकाशित: |
Washington, D.C. :
International Monetary Fund,
2006.
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| श्रृंखला: | IMF Working Papers; Working Paper ;
No. 2006/235 |
| ऑनलाइन पहुंच: | Full text available on IMF |
| सारांश: | The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth. Looking at the specific channels through which high debt affects productivity growth and the allocation of resources in Jamaica, the study finds that high public debt has been associated with macroeconomic uncertainty and an output structure that relied excessively on a few maturing sectors with limited scope for productivity growth. Furthermore, public investment has been crowded out by debt service, further adversely affecting productivity growth. |
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| वस्तु वर्णन: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| भौतिक वर्णन: | 1 online resource (25 pages) |
| स्वरूप: | Mode of access: Internet |
| आईएसएसएन: | 1018-5941 |
| अभिगमन: | Electronic access restricted to authorized BRAC University faculty, staff and students |