Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Western Hemisphere > Argentina

You are looking at 1 - 8 of 8 items for :

  • Type: Journal Issue x
  • Public investments x
Clear All Modify Search
Cover IMF Staff Country Reports
Uruguay: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper studies economic growth in Uruguay. Following the 2002 crisis, Uruguay had a remarkable economic recovery. The major growth acceleration in 2004–14 was explained by a combination of positive external factors, recovery from crisis, and emergence of new export sectors. With external factors no longer a support for growth, Uruguay needs to leverage its strengths to raise growth sustainably. Uruguay’s high level of institutional quality and social cohesion provides a stable container for growth. A comparison relative to its trading partners and high growth peers helps identify areas that Uruguay can further enhance to unleash its growth potential. These include, a strong, flexible, and equitable labor market, better education outcomes, higher private sector dynamism, and continued macro stability. Structural policy reforms on key constraints to the private sector will help realize the potential of the new export industries and set the stage for inclusive growth. A strong and credible macro policy framework is also essential for growth sustainability. Efforts to reduce debt, inflation, and dollarization and keep them at low levels will lay the foundations for structural reforms to flourish.
Keywords:
ISCR; CR; infrastructure investment; text; youth unemployment; youth-to-adult unemployment gap; Labor indicator; wage council; labor market condition; Unemployment; Exports; Public investment and public-private partnerships (PPP); Infrastructure; Public investment spending; Global; Asia and Pacific
Cover IMF Working Papers
Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration
Mr. Alejandro Izquierdo
,
Mr. Ruy Lama
,
Juan Pablo Medina
,
Jorge Puig
,
Daniel Riera-Crichton
,
Mr. Carlos A. Végh Gramont
, and
Guillermo Javier Vuletin
Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear theoretical implication that public investment multipliers should be higher (lower) the lower (higher) is the initial stock of public capital has not, to the best of our knowledge, been tested. This paper tackles this empirical challenge and finds robust evidence in favor of the above hypothesis: countries with a low initial stock of public capital (as a proportion of GDP) have significantly higher public investment multipliers than countries with a high initial stock of public capital. This key finding seems robust to the sample (European countries, U.S. states, and Argentine provinces) and to the identification method (Blanchard-Perotti, forecast errors, and instrumental variables). Our results thus suggest that public investment in developing countries would carry high returns.
Keywords:
WP; investment multiplier; Fiscal multiplier; Public investment; Stock of public capital; Crowding-in; multiplier estimate; public investment multiplier; multiplier calculation; government spending multiplier; Public investment spending; Stocks; Government consumption; Private investment; Global
Cover IMF Staff Country Reports
Uruguay: Selected Issues
International Monetary Fund
This report includes five background studies with emphasis on vulnerabilities and growth, the focus of the 2006 Article IV Consultation with Uruguay. Stocks of key financial balance sheet vulnerabilities are also discussed. With the appreciation of the peso since early 2004, the discussion on competitiveness has intensified. To assess competitiveness, the paper looks at balance of payments trends, the ratio of tradable to nontradable prices, cost and profitability measures, and real exchange rates and their alignment with purchasing power parity (PPP).
Keywords:
ISCR; CR; Uruguay; growth performance; bank; Uruguay's competitiveness; private sector participation; bank credit stock; balance of payments trend; Uruguayan peso; Public investment and public-private partnerships (PPP); Public investment spending; Credit; Infrastructure; East Asia; South Asia; Global
Cover IMF Research Bulletin
IMF Research Bulletin, June 2006
International Monetary Fund. Research Dept.
Research summaries on (1) public investment, and (2) bank transaction taxes; announcement of forthcoming (November 2006) Jacques Polak Seventh Annual Research Conference; country study on Italy; listing of contents of Vol. 53, No. 2 of IMF Staff Papers, summary of recently published book entitled "Divergent Paths in Post-Communist Transformation: Capitalism for All or Capitalism for the Few?"; summary of (January 2006) Warsaw Conference on European Union (EU) enlargement and related flows of labor and capital; listing of recent IMF Working Papers; and listing of visiting scholars at IMF, January-April 2006.
Keywords:
IRB; CIS country; investment; IMF data; Italy; revenue; forecasting ECB monetary policy; convergence process; EU enlargement; data section; Public investment spending; Public investment and public-private partnerships (PPP); Bank levy; Financial transaction tax; Fiscal consolidation; Europe; Global; Caribbean; Africa
Cover Unproductive Public Expenditures
Unproductive Public Expenditures
A Pragmatic Approach to Policy Analysis
International Monetary Fund

Abstract

Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, particularly as the competition for limited public resources intensifies.By providing a framework for defining and analyzing public expenditureproductivity and unproductive expenditures, this pamphlet discusseshow economic policymakers may approach these issues.

Keywords:
PAM; International monetary fund pamphlet series; IMF stand-by arrangement; Policy dialogue; pamphlet; microfilm copy; public expenditure; fund Conditionality; Public sector; Defense spending; Public investment spending; Expenditure composition; Global; Middle East
Cover IMF Working Papers
Corruption, Growth, and Public Finances
Mr. Vito Tanzi
and
Mr. Hamid R Davoodi
The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance.
Keywords:
WP; enterprise; SME; tax; GDP; corruption; growth; bribes; investment; Ugandan firm; enterprise growth; firm sales; privatized firm; trade enterprise; firms amount; public finance; enterprise restructuring; Income tax systems; Value-added tax; Public investment spending; Consumption taxes; Global
Cover IMF Working Papers
Private Investment in Developing Countries: An Empirical Analysis
International Monetary Fund
This paper analyzes the effects of several policy and other macro-economic variables on the ratio of private investment to GDP in developing countries. Using data for a sample of 23 developing countries over the period 1975-87, the econometric evidence indicates that the rate of private investment is positively related to the real growth rate of GDP, public sector investment, and to a lesser extent the level of per capita GDP, while it is negatively related to domestic inflation, the debt service ratio, the debt-to-GDP ratio, and high real interest rates. There is also some indication that all but the last of these variables had a greater impact before the onset of the debt crisis in 1982, while the debt-to-GDP ratio (a measure of a country’s debt overhang) has become more important since then.
Keywords:
WP; investment rate; investment; rate; growth rate; debt service; rates in Singapore; longer-term investment project; GDP ratio; gross investment; rates in Korea; adverse investment climate; Private investment; Public investment spending; Real interest rates; Debt service ratios; Europe; Asia and Pacific
Cover IMF Working Papers
Private Investment and Economic Growth in Developing Countries
International Monetary Fund
Despite the growing support for market-oriented strategies, and for a greater role of private investment, empirical growth models for developing countries typically make no distinction between the private and public components of investment. This paper sheds some light on this important issue by formulating a simple growth model that separates the effects of public sector and private sector investment. This model is estimated for a cross - section sample of 24 developing countries, and the results support the notion that private investment has a larger direct effect on growth than does public investment.
Keywords:
WP; investment; public sector investment; investment opportunity; investment variable; investment-growth relationship; productivity variable; investment-income ratio; Public investment spending; Private investment; Productivity; Labor force; Imports