system development, sovereign debt vulnerabilities, and ways to sustain progress in reducing inflation by strengthening the …

Consecutive years of primary deficits have led to mounting public debt of almost 50% of GDP, one of the fastest … increases in spending. As a consequence, sovereign debt ratings have declined to below investment level, and the negative … outlook on Costa Rica’s debt signals increasing financing costs. Against this backdrop, the risk of a fiscal crisis is …

This paper incorporates the notion of public capital in a Blanchard OLG model to study the effects of debt …-financed public investments on growth and welfare in the long-run. The simple analytic result is that public debt can enhance both … only does debt improve efficiency by raising the returns to private investment when equilibrium is inefficient, it also …

, much of the rapid growth in credit has been in consumer loans. The authorities are monitoring high levels of household debt …

States (CIS) accumulated substantial external debt in a short time span, about half of which is owed to multilateral … financial institutions. Three factors contributed to the current debt burden. First, the initial years of transition brought … consequently, growth revival, took longer than expected. Third, overoptimism by multilaterals contributed to the high debt levels …

debt and debt service during the 1990s. To reduce growth volatility, since the mid-1990s, the government has attempted to …

primary commodities and exposure to terms of trade shocks. This paper finds that the coefficient of the lagged debt stock was … significant and positive, consistent with the theory that higher levels of debt warrant greater fiscal effort. Various measures of …