04881oam 22011894 450 991078841740332120230828232703.01-4623-1750-21-4527-9049-31-283-51262-91-4519-0948-99786613825070(CKB)3360000000443499(EBL)3014440(SSID)ssj0000943026(PQKBManifestationID)11967157(PQKBTitleCode)TC0000943026(PQKBWorkID)10974967(PQKB)10802650(OCoLC)694141092(MiAaPQ)EBC3014440(IMF)WPIEE2006235(EXLCZ)99336000000044349920020129d2006 uf 0engur|n|---|||||txtccrPublic Debt and Productivity : The Difficult Quest for Growth in Jamaica /Rodolphe BlavyWashington, D.C. :International Monetary Fund,2006.1 online resource (27 p.)IMF Working Papers"October 2006."1-4518-6495-7 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/235Debts, PublicJamaicaIndustrial productivityJamaicaPublic investmentsJamaicaPublic FinanceimfProduction and Operations ManagementimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfDebtimfDebt ManagementimfSovereign DebtimfMacroeconomics: ProductionimfInformal EconomyimfUnderground EconomimfPublic finance & taxationimfMacroeconomicsimfEconomics of specific sectorsimfPublic debtimfProductivityimfPublic investment and public-private partnerships (PPP)imfPublic investment spendingimfInformal economyimfDebts, PublicimfIndustrial productivityimfPublic-private sector cooperationimfPublic investmentsimfInformal sectorimfEconomicsimfJamaicaEconomic conditionsJamaicaimfDebts, PublicIndustrial productivityPublic investmentsPublic FinanceProduction and Operations ManagementNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockDebtDebt ManagementSovereign DebtMacroeconomics: ProductionInformal EconomyUnderground EconomPublic finance & taxationMacroeconomicsEconomics of specific sectorsPublic debtProductivityPublic investment and public-private partnerships (PPP)Public investment spendingInformal economyDebts, PublicIndustrial productivityPublic-private sector cooperationPublic investmentsInformal sectorEconomicsBlavy Rodolphe1463974International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910788417403321Public Debt and Productivity3802310UNINA