Shen, Wenyi; Yang, Shu-Chun S.; Zanna, Luis-Felipe - 2015
features of LICs-different types of financing including aid, the marginal efficiency of public investment, and the degree of … financing like aid increases the resource envelope of the economy, mitigating the private sector crowding out effects of … government spending and pushing up the output multiplier. The same external financing, however, tends to appreciate the real …