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domestic investment by residents of debtor countries. It is argued here that relief could also make available additional profit …
Persistent link: https://www.econbiz.de/10014396061
Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. 'Debt bias' (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a...
Persistent link: https://www.econbiz.de/10014408716
Enhancing public and private investment, but also ensuring that this translates into higher growth and employment, have … long been key policy challenges in Arab countries. Reflecting an improvement in policies and global conditions, investment … differences across the region-investment has on average been somewhat weaker than in peer countries and less effective at …
Persistent link: https://www.econbiz.de/10014408616
This paper develops a model of an open economy which employs distortionary taxes to finance public consumption, and with an access to the world capital market. The paper examines the efficiency of quantity restrictions on capital exports and the accompanying set of taxes. A distinction is made...
Persistent link: https://www.econbiz.de/10014395795
This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over …
Persistent link: https://www.econbiz.de/10014396226
results from the requirement that non-traded inputs are used in the investment process. In the short-run, though, the effects …
Persistent link: https://www.econbiz.de/10014396304
Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community's main answer to this dilemma has been to promote recourse to concessional external resources. The Fund's recommendations to...
Persistent link: https://www.econbiz.de/10014410137
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395940
The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim holders’ preferred degree of asset correlation in portfolios held by the firm. Using the copula capital structure model, it is shown that the correlation bias shifts...
Persistent link: https://www.econbiz.de/10014401318
growth-accounting framework are outlined. The main constraints to growth and private investment and current policy initiative … to promote broad-based growth and private investment are analyzed. The various methods employed suggest that there is …
Persistent link: https://www.econbiz.de/10014405058