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Business and Economics > Production and Operations Management

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
  • National Budget, Deficit, and Debt: General x
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Cover IMF Working Papers
Fiscal Stabilization and Growth: Evidence from Industry-level Data for Advanced and Developing Economies
Sangyup Choi
,
Davide Furceri
, and
João Tovar Jalles
Medium-term growth can be enhanced by fiscal stabilization. However, to date, no systematic effort has been made to study the specific channels through which fiscal stabilization affects growth. This paper examines the effect of fiscal stabilization on industrial growth and how this effect depends on different technological characteristics. It does so by applying a difference-in-difference approach to an unbalanced panel of 22 manufacturing industries for 55 advanced and developing economies over the period 1970-2014. The results suggest that fiscal stabilization fosters growth in industries with: i) higher external financial dependence and lower asset fixity; ii) higher degree of labor intensity; iii) higher investment lumpiness and relationship-specific input usage. These effects tend to be larger during economic recessions. The results are robust to different measures of fiscal stabilization and the inclusion of various interactions between a broad set of macroeconomic variables and production technologies.
Keywords:
WP; dependent variable; external finance; aggregate demand; capital depreciation; developing economy; interaction effect; industry-level data; fiscal stabilization; time varying coefficients; growth; technologies of production; asset fixity; baseline result; option-value effect; effect of fiscal stabilization; differential effect; Depreciation; Productivity; Global
Cover IMF Working Papers
The EU Services Directive: Gains from Further Liberalization
Emilio Fernández Corugedo
and
Mrs. Esther Perez Ruiz
The EU Services Directive was adopted in 2006 to foster competition in services across Europe. However, progress in liberalizing services has fallen short of expectations due to the article 15 of the Directive, which allows countries to maintain pre-existing restrictions if judged necessary to protect the public interest. Through input output analysis, this paper finds important multiplier effects of greater efficiency services to the rest of the economy. A renewed impulse to the liberalization process could be given by enhancing the advocacy role of national competition authorities in interpreting the notion of public interest underpinning existing regulations.
Keywords:
WP; multiplier effect; production function; Services sectors; Services Directive; Input-output economics; Growth theory; Competition authorities; productivity improvement; input-output economy; TFP shock; liberalization process; amplification effect; sector economy; Competition; Productivity; Services sector; Total factor productivity; Europe
Cover IMF Staff Country Reports
Burundi: Questions générales et annexe statistique
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Keywords:
ISCR; CR; chapter II
Cover IMF Staff Country Reports
Burundi: Selected Issues and Statistical Appendix
International Monetary Fund
Burundi is in great need of investment in infrastructure, but fiscal constraints leave little room for additional public spending. Despite this initial recovery, Burundi has yet to rebuild its pre-civil war level of public capital stock. Improving the business climate is one of the keys to attracting higher private investment. Since the Arusha agreement, some progress in the business climate has been made. Burundi is quickly moving away from the unsustainable debt situation and unstable exchange rate of the 1990s.
Keywords:
ISCR; CR; chapter II; chapter IV; PEM reform; growth accounting exercise; investor confidence; Budget planning and preparation; Agricultural sector; Sub-Saharan Africa; East Africa; Africa; Global; Southern Africa; Central Asia