01733cas a2200241 a 4500 AALejournalIMF004349 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864953 1018-5941 BD-DhAAL BD-DhAAL Blavy, Rodolphe. Public Debt and Productivity : The Difficult Quest for Growth in Jamaica / Rodolphe Blavy. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2006/235 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/235/001.2006.issue-235-en.xml IMF e-Library