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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...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington D.C.] :
International Monetary Fund.,
©2006.
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| Colección: | IMF working paper ;
WP/06/235. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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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| Descripción Física: | 1 online resource (25 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283512629 9781283512626 9781451909487 1451909489 1462317502 9781462317509 1452790493 9781452790497 9786613825070 6613825077 |
| ISSN: | 2227-8885 ; |