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|z 9781451875737
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|a 1018-5941
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|a Kojo, Naoko.
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|a Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries /
|c Naoko Kojo, Arye Hillman, Emanuele Baldacci.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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|a 1 online resource (39 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the primary channel is factor productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is some four times more effective than investment as a channel for increasing growth through fiscal policy. Although the private investment response to fiscal contraction may be minor, high-deficit, low-income countries can nonetheless benefit from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase growth.
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|a Mode of access: Internet
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|a Baldacci, Emanuele.
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|a Hillman, Arye.
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|a IMF Working Papers; Working Paper ;
|v No. 2003/237
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/237/001.2003.issue-237-en.xml
|z IMF e-Library
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