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State-Owned Banks and Fiscal Discipline

State-Owned Banks and Fiscal Discipline »

Source: State-Owned Banks and Fiscal Discipline

Volume/Issue: 2013/206

Series: IMF Working Papers

Author(s): Jesus Gonzalez-Garcia , and Francesco Grigoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 2013

ISBN: 9781484392805

Keywords: Soft budget constraint, state-owned banks, fiscal discipline, crowding out, banking, banking system, bank, Governmental Loans and Credits, crowding out.,

State-owned banks may help to soften the financing constraints of public sector entities and consequently become a factor that hampers fiscal discipline. Using a panel dataset, we find that a larger presence of sta...

FDI Flows to Asia

FDI Flows to Asia »

Source: FDI Flows to Asia : Did the Dragon Crowd Out the Tigers?

Volume/Issue: 2005/189

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451862089

Keywords: FDI, diversion, crowding out, bond, direct investment, foreign direct investment, International Economic Order, International Finance: General, Financial Aspects of Economic Integration, Crowding-out,

China's dramatic success in attracting foreign direct investment (FDI) has raised concerns that it has success diverted FDI from other countries in Asia. We develop a new methodology to estimate crowding out, and w...

Government Debt, Life-Cycle Income and Liquidity Constrains

Government Debt, Life-Cycle Income and Liquidity Constrains »

Source: Government Debt, Life-Cycle Income and Liquidity Constrains : Beyond Approximate Ricardian Equivalence

Volume/Issue: 1996/140

Series: IMF Working Papers

Author(s): Steven Symansky , Douglas Laxton , and Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

ISBN: 9781451928778

Keywords: Ricardian Equivalence, Crowding Out, Real Interest Rates, Government Debt, real interest rate, lifetime income, disposable income, public debt

Evans (1991) has demonstrated that Blanchard’s (1985) finite-horizon model obeys approximate Ricardian equivalence. We show that this result is determined largely by an unrealistic assumption that labor inco...

Crowding-Out or Crowding-In? Public and Private Investment in India1

Crowding-Out or Crowding-In? Public and Private Investment in India1 »

Source: Crowding-Out or Crowding-In? Public and Private Investment in India

Volume/Issue: 2015/264

Series: IMF Working Papers

Author(s): Girish Bahal , Mehdi Raissi , and Volodymyr Tulin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2015

ISBN: 9781513541655

Keywords: Public investment, Private investment, Crowding in, Crowding out, Permanent shocks, Structural identification, Vector error correction models, investment, capital, investment activity

This paper contributes to the debate on the relationship between public-capital accumulation and private investment in India along the following dimensions. First, acknowledging major structural changes that the In...

Public Debt and Growth1

Public Debt and Growth1 »

Source: Public Debt and Growth

Volume/Issue: 2010/174

Series: IMF Working Papers

Author(s): Jaejoon Woo , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201853

Keywords: Government debt, growth, growth accounts, crowding out, thresholds, capital per worker, total factor productivity, tfp, real gdp, gdp growth

This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determ...

Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits

Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits »

Source: Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits

Volume/Issue: 2009/255

Series: IMF Working Papers

Author(s): Douglas Laxton , Dirk Muir , Michael Kumhof , Susanna Mursula , and Charles Freedman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2009

ISBN: 9781451874013

Keywords: Fiscal Stimulus, Crowding-Out, Non-Ricardian Households, Government Deficits, Government Debt, Macro-Financial Linkages, inflation, fiscal policy, monetary policy, real interest rates

This paper uses the IMF's Global Integrated Monetary and Fiscal Model to compute shortrun multipliers of fiscal stimulus measures and long-run crowding-out effects of higher debt. Multipliers of two-year stimulus r...

State-Owned Banks and Fiscal Discipline

State-Owned Banks and Fiscal Discipline »

Volume/Issue: 2013/206

Series: IMF Working Papers

Author(s): Jesus Gonzalez-Garcia , and Francesco Grigoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 October 2013

DOI: http://dx.doi.org/10.5089/9781484392805.001

ISBN: 9781484392805

Keywords: Soft budget constraint, state-owned banks, fiscal discipline, crowding out, banking, banking system, bank, Governmental Loans and Credits, crowding out.,

State-owned banks may help to soften the financing constraints of public sector entities and consequently become a factor that hampers fiscal discipline. Using a panel dataset, we find that a larger presence of sta...

You Are Suffocating Me! Firm-Level Evidence on Crowding Out

You Are Suffocating Me! Firm-Level Evidence on Crowding Out »

Source: You Are Suffocating Me! Firm-Level Evidence on Crowding Out

Volume/Issue: 2019/80

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2019

ISBN: 9781498311090

Keywords: Economic growth, Private investments, Capital formation, Foreign investment, Public investments, Fixed investment, state-owned enterprises, crowding-out effect, firm-level analysis, SOEs

Literature on whether government spending crowds out or crowds in the private sector is large, but still without an unambiguous conclusion. Using firm-level data from Ukraine, this paper provides a granular empiric...

FDI Flows to Asia
			: Did the Dragon Crowd Out the Tigers?

FDI Flows to Asia : Did the Dragon Crowd Out the Tigers? »

Volume/Issue: 2005/189

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

DOI: http://dx.doi.org/10.5089/9781451862089.001

ISBN: 9781451862089

Keywords: FDI, diversion, crowding out, bond, direct investment, foreign direct investment, International Economic Order, International Finance: General, Financial Aspects of Economic Integration, Crowding-out,

China's dramatic success in attracting foreign direct investment (FDI) has raised concerns that it has success diverted FDI from other countries in Asia. We develop a new methodology to estimate crowding out, and w...

Government Debt, Life-Cycle Income and Liquidity Constrains
			: Beyond Approximate Ricardian Equivalence

Government Debt, Life-Cycle Income and Liquidity Constrains : Beyond Approximate Ricardian Equivalence »

Volume/Issue: 1996/140

Series: IMF Working Papers

Author(s): Steven Symansky , Douglas Laxton , and Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

DOI: http://dx.doi.org/10.5089/9781451928778.001

ISBN: 9781451928778

Keywords: Ricardian Equivalence, Crowding Out, Real Interest Rates, Government Debt, real interest rate, lifetime income, disposable income, public debt

Evans (1991) has demonstrated that Blanchard’s (1985) finite-horizon model obeys approximate Ricardian equivalence. We show that this result is determined largely by an unrealistic assumption that labor inco...