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Public Infrastructure Investment, Output Dynamics, and Balanced Budget Fiscal Rules
Duarte Bom, P.R.; Ligthart, J.E. - Tilburg University, Center for Economic Research - 2011
We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...
Persistent link: https://www.econbiz.de/10011090750
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Output Dynamics, Technology, and Public Investment
Duarte Bom, P.R.; Heijdra, B.J.; Ligthart, J.E. - Tilburg University, Center for Economic Research - 2010
The paper studies the dynamic output effects of public infrastructure investment in a small open economy. We develop an overlapping generations model that includes a production externality of public capital and a wealth effect on labor supply. Public capital enters the firm's production function...
Persistent link: https://www.econbiz.de/10011090760
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African Development: Beyond Income Convergence
Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2012
indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates … convergence in real per capita GDP and inequality adjusted human development in 38 African countries, disaggregated into 10 … is that the income component of the human development index moves slower than others in the convergence process and thus …
Persistent link: https://www.econbiz.de/10010695998
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African Development: Beyond Income Convergence
Simplice A, Asongu - Volkswirtschaftliche Fakultät, … - 2012
indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates … convergence in real per capita GDP and inequality adjusted human development in African countries, disaggregated into 11 … the contrary. As a policy implication, looking beyond income convergence can provide a concrete agenda for development …
Persistent link: https://www.econbiz.de/10009422021
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Monetary and Fiscal Policy Interactions in an Emerging Open Economy: a Non-Ricardian DSGE Approach
Algozhina, Aliya - FIW - 2012
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10010856781
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Vision Versus Prudence: Government Debt Financing of Investment
Freebairn, John; Corden, Max - Melbourne Institute of Applied Economic and Social … - 2013
This article explores the arguments for and against the use of government debt to finance large-scale public investments. Relative to the options of higher taxation or lower other expenditures, debt finance means that both the costs and the benefits of the investment fall on future generations....
Persistent link: https://www.econbiz.de/10010858809
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Monetary and Fiscal Policy Interactions in an Emerging Open Economy: A Non-Ricardian DSGE Approach
Algozhina, Aliya - Center for Economic Research and Graduate Education and … - 2012
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10010842892
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Are We Going to Have Deflation and Current Account Surpluses? [Vom avea deflaţie şi surplusuri de cont curent?]
Lucian, Croitoru - In: Revista OEconomica (2013) 02
In this study we show that the inflation rate and the current account behaved according to historical regularities, once the international crisis hit Romania in the second half of 2008. Inflation has decreased relatively fast for a long period of time, and the current account deficit has reduced...
Persistent link: https://www.econbiz.de/10010965610
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Management of technology in Ghana – problems & prospects
Yawson, Robert M. - Volkswirtschaftliche Fakultät, … - 2004
Despite the immense progress that has been made throughout the world in improving the quality of life through applications of technology, large proportions of the peoples of Africa still leave on less than $1.00 per day income. The seven most industrialised democracies of the world, without...
Persistent link: https://www.econbiz.de/10009294580
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Is Privatization Related With Macroeconomic Management? Evidence From Some Selected African Countries.
George, Emmanuel; Odejimi, Deborah; Matthews, Oluwatoyin; … - Volkswirtschaftliche Fakultät, … - 2013
Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the privatization process succeeded in attracting foreign direct...
Persistent link: https://www.econbiz.de/10011186475