05154oam 22012974 450 991096732550332120250426110455.0978661382507097814623175091462317502978145279049714527904939781283512626128351262997814519094871451909489(CKB)3360000000443499(EBL)3014440(SSID)ssj0000943026(PQKBManifestationID)11967157(PQKBTitleCode)TC0000943026(PQKBWorkID)10974967(PQKB)10802650(OCoLC)694141092(MiAaPQ)EBC3014440(IMF)WPIEE2006235(IMF)WPIEA2006235WPIEA2006235(EXLCZ)99336000000044349920020129d2006 uf 0engur|n|---|||||txtccrPublic Debt and Productivity : The Difficult Quest for Growth in Jamaica /Rodolphe Blavy1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (27 p.)IMF Working Papers"October 2006."9781451864953 1451864957 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. 2006/235Difficult quest for growth in JamaicaDebts, PublicJamaicaIndustrial productivityJamaicaPublic investmentsJamaicaDebt ManagementimfDebtimfDebts, PublicimfEconomics of specific sectorsimfEconomicsimfIndustrial productivityimfInformal EconomyimfInformal economyimfInformal sectorimfMacroeconomicsimfMacroeconomics: ProductionimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfProduction and Operations ManagementimfProductivityimfPublic debtimfPublic finance & taxationimfPublic FinanceimfPublic investment and public-private partnerships (PPP)imfPublic investment spendingimfPublic investmentsimfPublic-private sector cooperationimfSovereign DebtimfUnderground EconomimfJamaicaEconomic conditionsJamaicaimfDebts, PublicIndustrial productivityPublic investmentsDebt ManagementDebtDebts, PublicEconomics of specific sectorsEconomicsIndustrial productivityInformal EconomyInformal economyInformal sectorMacroeconomicsMacroeconomics: ProductionNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockProduction and Operations ManagementProductivityPublic debtPublic finance & taxationPublic FinancePublic investment and public-private partnerships (PPP)Public investment spendingPublic investmentsPublic-private sector cooperationSovereign DebtUnderground EconomBlavy Rodolphe1815679International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910967325503321Public Debt and Productivity4372817UNINA