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Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Durante las últimas tres décadas, el gasto público en infraestructura, como porcentaje del PIB, ha estado disminuyendo en todo el mundo. Aunque la relación entre la inversión en infraestructura y el crecimiento económico aún no se comprende cabalmente, la calidad de la infraestructura afecta sin lugar a dudas a la productividad de un país, la competitividad en los mercados de exportación y la capacidad para atraer inversiones extranjeras. Este estudio analiza las siguientes preguntas: ¿Deberían los países aumentar la inversión pública en infraestructura? Si la respuesta es sí, ¿cómo pueden hacerlo de una manera que sea responsable desde el punto de vista fiscal? ¿Son las asociaciones público-privadas una alternativa viable?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

Toan Quoc Nguyen, Mr. Benedict J. Clements, and Ms. Rina Bhattacharya

Abstract

The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Depuis trois décennies, les dépenses publiques en infrastructure diminuent proportionnellement au PIB dans le monde entier. Le lien entre l'investissement dans les infrastructures et la croissance économique n'a pas encore livré tous ses secrets ; mais il est clair que la qualité de l’infrastructure physique affecte la productivité, la compétitivité sur les marchés extérieurs et la capacité d’un pays à attirer l’investissement étranger. Ce numéro des Dossiers économiques aborde les questions suivantes : les pays devraient-ils accroître l’investissement public dans l’infrastructure ? Si oui, comment peuvent-ils le faire d’une manière financièrement responsable ? Les partenariats public–privé représentent-ils une solution viable ?

Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming

Abstract

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?

International Monetary Fund

Abstract

Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor countries, it also presents risks to those with small and undiversified economies. This pamphlet explores research by Fund staff into the nature and magnitude of these risks and proposes targeted policy solutions to ease adjustments and encourage developing countries to choose fuller participation in the world trading system.

Toan Quoc Nguyen, Mr. Benedict J. Clements, and Ms. Rina Bhattacharya

Abstract

The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.

Toan Quoc Nguyen, Mr. Benedict J. Clements, and Ms. Rina Bhattacharya

Abstract

La Iniciativa para los Países Pobres Muy Endeudados, lanzada en 1999 por el FMI y el Banco Mundial, fue el primer plan coordinado de la comunidad financiera internacional para reducir la deuda externa de los países más pobres del mundo. Se basa en la teoría de que en los países pobres muy endeudados el crecimiento económico se ve paralizado por la gravosa carga de la deuda, lo cual hace prácticamente imposible que estos países salgan de la pobreza. Sin embargo, en la mayor parte de las investigaciones empíricas sobre los efectos de la deuda en el crecimiento económico se ha analizado de manera grupal a una serie de países muy diversos, y son muy limitados los estudios sobre el impacto que tiene la deuda de los países en la población pobre. Este folleto presenta los resultados de las investigaciones empíricas de los autores sobre este tema, y se analizan los canales a través de los cuales la deuda afecta al crecimiento económico de los países de bajo ingreso.