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 affec...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
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Schriftenreihe: | IMF Working Papers
Working Paper No. 06/235 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (25 p) |
ISBN: | 1451864957 9781451864953 |
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spelling | Blavy, Rodolphe Verfasser aut Public Debt and Productivity The Difficult Quest for Growth in Jamaica Blavy, Rodolphe Washington, D.C International Monetary Fund 2006 1 Online-Ressource (25 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/235 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 Online-Ausg http://elibrary.imf.org/view/IMF001/05478-9781451864953/05478-9781451864953/05478-9781451864953.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Blavy, Rodolphe Public Debt and Productivity The Difficult Quest for Growth in Jamaica |
title | Public Debt and Productivity The Difficult Quest for Growth in Jamaica |
title_auth | Public Debt and Productivity The Difficult Quest for Growth in Jamaica |
title_exact_search | Public Debt and Productivity The Difficult Quest for Growth in Jamaica |
title_exact_search_txtP | Public Debt and Productivity The Difficult Quest for Growth in Jamaica |
title_full | Public Debt and Productivity The Difficult Quest for Growth in Jamaica Blavy, Rodolphe |
title_fullStr | Public Debt and Productivity The Difficult Quest for Growth in Jamaica Blavy, Rodolphe |
title_full_unstemmed | Public Debt and Productivity The Difficult Quest for Growth in Jamaica Blavy, Rodolphe |
title_short | Public Debt and Productivity |
title_sort | public debt and productivity the difficult quest for growth in jamaica |
title_sub | The Difficult Quest for Growth in Jamaica |
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