Why is it so Hard to Finance Budget Deficits?: Problems of a Developing Country
This paper examines possible ways for a developing country to finance budget deficits from domestic resources. It does so by analyzing Pakistan''s National Savings Scheme (NSS). The NSS has a number of unusual attributes, and its impact upon the economy of Pakistan is not clear, but given...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2002
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 02/95 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper examines possible ways for a developing country to finance budget deficits from domestic resources. It does so by analyzing Pakistan''s National Savings Scheme (NSS). The NSS has a number of unusual attributes, and its impact upon the economy of Pakistan is not clear, but given Pakistan''s chronic fiscal difficulties, the NSS is of great importance in financing the public sector deficit. We use an econometric model to analyze the relationship between the demands for NSS deposits and various other financial instruments, in particular, bank deposits, and foreign-currency deposits. We conclude that NSS and bank deposits are net substitutes, as are NSS and foreign-currency deposits. Bank deposits and foreign-currency deposits, however, seem to be neither substitutes nor complements. Also, the estimated income elasticity of the demand for bank deposits is negative, while that of foreign-currency deposits is positive, and that of NSS is not significantly different from zero. Finally, there is evidence that foreign-currency deposits are a net substitute for NSS deposits. Thus, there is some empirical evidence that foreign currency deposits have absorbed part of the demand for NSS deposits. Accordingly, the availability of foreign-currency deposits may have reduced the ability of the government to finance itself |
| Beschreibung: | 1 Online-Ressource (20 p) |
| ISBN: | 1451851839 9781451851830 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:34Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Iwata, Shigeru Verfasser aut Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country Iwata, Shigeru Washington, D.C International Monetary Fund 2002 1 Online-Ressource (20 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 02/95 This paper examines possible ways for a developing country to finance budget deficits from domestic resources. It does so by analyzing Pakistan''s National Savings Scheme (NSS). The NSS has a number of unusual attributes, and its impact upon the economy of Pakistan is not clear, but given Pakistan''s chronic fiscal difficulties, the NSS is of great importance in financing the public sector deficit. We use an econometric model to analyze the relationship between the demands for NSS deposits and various other financial instruments, in particular, bank deposits, and foreign-currency deposits. We conclude that NSS and bank deposits are net substitutes, as are NSS and foreign-currency deposits. Bank deposits and foreign-currency deposits, however, seem to be neither substitutes nor complements. Also, the estimated income elasticity of the demand for bank deposits is negative, while that of foreign-currency deposits is positive, and that of NSS is not significantly different from zero. Finally, there is evidence that foreign-currency deposits are a net substitute for NSS deposits. Thus, there is some empirical evidence that foreign currency deposits have absorbed part of the demand for NSS deposits. Accordingly, the availability of foreign-currency deposits may have reduced the ability of the government to finance itself Online-Ausg Feltenstein, Andrew Sonstige oth http://elibrary.imf.org/view/IMF001/07945-9781451851830/07945-9781451851830/07945-9781451851830.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Iwata, Shigeru Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country |
| title | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country |
| title_auth | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country |
| title_exact_search | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country |
| title_exact_search_txtP | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country |
| title_full | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country Iwata, Shigeru |
| title_fullStr | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country Iwata, Shigeru |
| title_full_unstemmed | Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country Iwata, Shigeru |
| title_short | Why is it so Hard to Finance Budget Deficits? |
| title_sort | why is it so hard to finance budget deficits problems of a developing country |
| title_sub | Problems of a Developing Country |
| url | http://elibrary.imf.org/view/IMF001/07945-9781451851830/07945-9781451851830/07945-9781451851830.xml |
| work_keys_str_mv | AT iwatashigeru whyisitsohardtofinancebudgetdeficitsproblemsofadevelopingcountry AT feltensteinandrew whyisitsohardtofinancebudgetdeficitsproblemsofadevelopingcountry |