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Record Nr. |
UNINA9910826318803321 |
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Autore |
Blavy Rodolphe |
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Titolo |
Public Debt and Productivity : : The Difficult Quest for Growth in Jamaica / / Rodolphe Blavy |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-1750-2 |
1-4527-9049-3 |
1-283-51262-9 |
1-4519-0948-9 |
9786613825070 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (27 p.) |
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Collana |
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Soggetti |
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Debts, Public - Jamaica |
Industrial productivity - Jamaica |
Public investments - Jamaica |
Public Finance |
Production and Operations Management |
National Government Expenditures and Related Policies: Infrastructures |
Other Public Investment and Capital Stock |
Debt |
Debt Management |
Sovereign Debt |
Macroeconomics: Production |
Informal Economy |
Underground Econom |
Public finance & taxation |
Macroeconomics |
Economics of specific sectors |
Public debt |
Productivity |
Public investment and public-private partnerships (PPP) |
Public investment spending |
Informal economy |
Debts, Public |
Industrial productivity |
Public-private sector cooperation |
Public investments |
Informal sector |
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Economics |
Jamaica Economic conditions |
Jamaica |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE PARADOX: LOW GROWTH AND HIGH INVESTMENT ""; ""III. THE MISMEASUREMENT STORY""; ""IV. LOW PRODUCTIVITY: DOES THE LEVEL OF DEBT MATTER?""; ""V. HIGH DEBT AND DECLINING PRODUCTIVITY: THE CASE OF JAMAICA""; ""VI. TAKING STOCK: SUMMARY AND CONCLUSIONS""; ""REFERENCES"" |
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Sommario/riassunto |
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The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth. Looking at the specific channels through which high debt affects productivity growth and the allocation of resources in Jamaica, the study finds that high public debt has been associated with macroeconomic uncertainty and an output structure that relied excessively on a few maturing sectors with limited scope for productivity growth. Furthermore, public investment has been crowded out by debt service, further adversely affecting productivity growth. |
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