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Public Investment in Resource-Abundant Developing Countries / / Andrew Berg, Rafael Portillo, Susan Yang, Luis-Felipe Zanna
| Public Investment in Resource-Abundant Developing Countries / / Andrew Berg, Rafael Portillo, Susan Yang, Luis-Felipe Zanna |
| Autore | Berg Andrew |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (49 p.) |
| Altri autori (Persone) |
PortilloRafael
YangSusan ZannaLuis-Felipe |
| Collana |
IMF Working Papers
IMF working paper |
| Soggetto topico |
Public investments - Developing countries - Finance - Econometric models
Natural resources - Developing countries Macroeconomics Public Finance Taxation Exhaustible Resources and Economic Development Investment Capital Intangible Capital Capacity Economic Growth of Open Economies One, Two, and Multisector Growth Models National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock Macroeconomics: Consumption Saving Wealth Business Taxes and Subsidies National Government Expenditures and Related Policies: General Public finance & taxation Public investment spending Consumption taxes Consumption Private consumption Expenditure Taxes National accounts Public investments Economics Spendings tax Expenditures, Public |
| ISBN |
1-4755-6996-3
1-4755-4982-2 1-283-94789-7 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Contents; I. Introduction; II. Model Setup; A Households; B Firms; C The Government; D Some Market Clearing Conditions and Identities; III. Equilibrium and Calibration; A The CEMAC Region; B Angola; IV. Investing with a short revenue horizon; A Saving in a SWF vs. Investing in Public Capital; B Sustaining Public Capital; C Endogenous Depreciation of Public Capital; D The Sustainable Investing Approach; E Development without the Windfall; V. Investing Volatile Resource Revenue; A The Sustainable Investing Approach to Managing Volatility
B Allocation between Investing and External SavingVI. Conclusion; Tables; 1 Baseline Parameter Calibration; 2 Welfare Comparison with All-Investing; 3 Stabilization Effects of the Sustainable Investing Approach; Figures; 1 CEMAC application: saving in a SWF vs. all-investing; 2 CEMAC application: all-investing and sustaining public capital by fiscal Adjustments through consumption taxes or transfers; 3 CEMAC application with constant depreciation rate of public capital: Saving in a SWF vs. all-investing; 4 CEMAC application: sustainable investing approach 5 CEMAC application: investing without a Resource Windfall 6 Angola application: conservative vs. aggressive scaling-up under sustainable investing; 7 Angola application: conservative vs. aggressive scaling-up With constant depreciation rate; Appendix I: Equilibrium and Optimality Conditions; References |
| Record Nr. | UNINA-9910779594603321 |
Berg Andrew
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Public Investment in Resource-Abundant Developing Countries / / Andrew Berg, Rafael Portillo, Susan Yang, Luis-Felipe Zanna
| Public Investment in Resource-Abundant Developing Countries / / Andrew Berg, Rafael Portillo, Susan Yang, Luis-Felipe Zanna |
| Autore | Berg Andrew |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (49 p.) |
| Disciplina | 332.1;332.152 |
| Altri autori (Persone) |
PortilloRafael
YangSusan ZannaLuis-Felipe |
| Collana |
IMF Working Papers
IMF working paper |
| Soggetto topico |
Public investments - Developing countries - Finance - Econometric models
Natural resources - Developing countries Macroeconomics Public Finance Taxation Exhaustible Resources and Economic Development Investment Capital Intangible Capital Capacity Economic Growth of Open Economies One, Two, and Multisector Growth Models National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock Macroeconomics: Consumption Saving Wealth Business Taxes and Subsidies National Government Expenditures and Related Policies: General Public finance & taxation Public investment spending Consumption taxes Consumption Private consumption Expenditure Taxes National accounts Public investments Economics Spendings tax Expenditures, Public |
| ISBN |
1-4755-6996-3
1-4755-4982-2 1-283-94789-7 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Contents; I. Introduction; II. Model Setup; A Households; B Firms; C The Government; D Some Market Clearing Conditions and Identities; III. Equilibrium and Calibration; A The CEMAC Region; B Angola; IV. Investing with a short revenue horizon; A Saving in a SWF vs. Investing in Public Capital; B Sustaining Public Capital; C Endogenous Depreciation of Public Capital; D The Sustainable Investing Approach; E Development without the Windfall; V. Investing Volatile Resource Revenue; A The Sustainable Investing Approach to Managing Volatility
B Allocation between Investing and External SavingVI. Conclusion; Tables; 1 Baseline Parameter Calibration; 2 Welfare Comparison with All-Investing; 3 Stabilization Effects of the Sustainable Investing Approach; Figures; 1 CEMAC application: saving in a SWF vs. all-investing; 2 CEMAC application: all-investing and sustaining public capital by fiscal Adjustments through consumption taxes or transfers; 3 CEMAC application with constant depreciation rate of public capital: Saving in a SWF vs. all-investing; 4 CEMAC application: sustainable investing approach 5 CEMAC application: investing without a Resource Windfall 6 Angola application: conservative vs. aggressive scaling-up under sustainable investing; 7 Angola application: conservative vs. aggressive scaling-up With constant depreciation rate; Appendix I: Equilibrium and Optimality Conditions; References |
| Record Nr. | UNINA-9910811577103321 |
|
Berg Andrew
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Public Investment, Growth, and Debt Sustainability : : Putting together the Pieces / / Andrew Berg, Rafael Portillo, Edward Buffie, Catherine Pattillo, Luis-Felipe Zanna
| Public Investment, Growth, and Debt Sustainability : : Putting together the Pieces / / Andrew Berg, Rafael Portillo, Edward Buffie, Catherine Pattillo, Luis-Felipe Zanna |
| Autore | Berg Andrew |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (55 p.) |
| Disciplina | 332.152 |
| Altri autori (Persone) |
PortilloRafael
BuffieEdward PattilloCatherine ZannaLuis-Felipe |
| Collana | IMF Working Papers |
| Soggetto topico |
Debts, External - Developing countries
Finance, Public - Developing countries Exports and Imports Infrastructure Public Finance Fiscal Policy International Lending and Debt Problems Debt Debt Management Sovereign Debt Institutions and Growth National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock Investment Capital Intangible Capital Capacity Public finance & taxation Macroeconomics International economics Public investment and public-private partnerships (PPP) Public investment spending Public debt Debt sustainability Expenditure National accounts External debt Public-private sector cooperation Public investments Debts, Public Saving and investment Debts, External |
| ISBN |
1-4755-5233-5
1-4755-7725-7 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Table of Contents; I. Introduction; II. The Model; A. Firms; A.1. Technology; A.2. Factor Demands; B. Consumers; C. The Government; C.1. Infrastructure, Public Investment and Efficiency; C.2. Fiscal Adjustment and the Public Sector Budget Constraint; D. Market-Clearing Conditions and External Debt Accumulation; III. Calibration of the Model; Tables; Table 1. Base Case Calibration; IV. The Long-Run Outcome; Table 2. Public Investment Scaling Up, Concessional Borrowing, and Grants; A. Insights from a Simplified Model; Figures; Figure 1. The Long-run Outcome in the Simplified Model
B. Numerical SolutionsTable 3. Long-run Effects of Scaling up Public Investment by 3 Percent of Initial GDP; V. The Medium-Term Fiscal and Macroeconomic Adjustments under Different Financing Schemes; A. Unconstrained Tax Adjustment; A.1. The Base Case; Figure 2. Base Case: Unconstrained Tax Adjustment; A.2. More Optimistic and Troublesome Scenarios; Figure 3. Unconstrained Tax Adjustment: Optimistic and Troublesome Scenarios; A.3. Gradually Increasing Transfers, Efficiency, and the Collection Rate of User Fees; Figure 4. Unconstrained Tax Adjustment: The Size of the Scaling Up Figure 5. Unconstrained Tax Adjustment: Increasing TransfersB. Constrained Tax Adjustment Combined with External Commercial Borrowing; B.1. Tax Smoothing and Private Demand Crowding Out; Figure 6. Unconstrained Tax Adjustment versus Constrained Tax Adjustment with External Commercial Borrowing; B.2. Debt Blowups: Structural and Policy Conditions; Figure 7. Constrained Tax Adjustment with External Commercial Borrowing: Varying the Structural and Policy Conditions; C. Constrained Tax Adjustment Combined with Domestic Borrowing Figure 8. Constrained Tax Adjustment: Domestic Borrowing versus External Commercial BorrowingVI. External Shocks and Risks; Figure 9. External TOT Shocks: Shocks Persistence and Financing Schemes; Figure 10. TFP and Risk Premium Shocks and Risks; VII. Concluding Remarks; Appendix A. On Public Investment Efficiency, Rates of Return, and Growth; References |
| Record Nr. | UNINA-9910779501203321 |
|
Berg Andrew
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Public Investment, Growth, and Debt Sustainability : : Putting together the Pieces / / Andrew Berg, Rafael Portillo, Edward Buffie, Catherine Pattillo, Luis-Felipe Zanna
| Public Investment, Growth, and Debt Sustainability : : Putting together the Pieces / / Andrew Berg, Rafael Portillo, Edward Buffie, Catherine Pattillo, Luis-Felipe Zanna |
| Autore | Berg Andrew |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (55 p.) |
| Disciplina | 332.152 |
| Altri autori (Persone) |
BuffieEdward
PattilloCatherine PortilloRafael ZannaLuis-Felipe |
| Collana | IMF Working Papers |
| Soggetto topico |
Debts, External - Developing countries
Finance, Public - Developing countries Capacity Capital Debt Management Debt sustainability Debt Debts, External Debts, Public Expenditure Exports and Imports External debt Fiscal Policy Infrastructure Institutions and Growth Intangible Capital International economics International Lending and Debt Problems Investment Macroeconomics National accounts National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock Public debt Public finance & taxation Public Finance Public investment and public-private partnerships (PPP) Public investment spending Public investments Public-private sector cooperation Saving and investment Sovereign Debt |
| ISBN |
1-4755-5233-5
1-4755-7725-7 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Table of Contents; I. Introduction; II. The Model; A. Firms; A.1. Technology; A.2. Factor Demands; B. Consumers; C. The Government; C.1. Infrastructure, Public Investment and Efficiency; C.2. Fiscal Adjustment and the Public Sector Budget Constraint; D. Market-Clearing Conditions and External Debt Accumulation; III. Calibration of the Model; Tables; Table 1. Base Case Calibration; IV. The Long-Run Outcome; Table 2. Public Investment Scaling Up, Concessional Borrowing, and Grants; A. Insights from a Simplified Model; Figures; Figure 1. The Long-run Outcome in the Simplified Model
B. Numerical SolutionsTable 3. Long-run Effects of Scaling up Public Investment by 3 Percent of Initial GDP; V. The Medium-Term Fiscal and Macroeconomic Adjustments under Different Financing Schemes; A. Unconstrained Tax Adjustment; A.1. The Base Case; Figure 2. Base Case: Unconstrained Tax Adjustment; A.2. More Optimistic and Troublesome Scenarios; Figure 3. Unconstrained Tax Adjustment: Optimistic and Troublesome Scenarios; A.3. Gradually Increasing Transfers, Efficiency, and the Collection Rate of User Fees; Figure 4. Unconstrained Tax Adjustment: The Size of the Scaling Up Figure 5. Unconstrained Tax Adjustment: Increasing TransfersB. Constrained Tax Adjustment Combined with External Commercial Borrowing; B.1. Tax Smoothing and Private Demand Crowding Out; Figure 6. Unconstrained Tax Adjustment versus Constrained Tax Adjustment with External Commercial Borrowing; B.2. Debt Blowups: Structural and Policy Conditions; Figure 7. Constrained Tax Adjustment with External Commercial Borrowing: Varying the Structural and Policy Conditions; C. Constrained Tax Adjustment Combined with Domestic Borrowing Figure 8. Constrained Tax Adjustment: Domestic Borrowing versus External Commercial BorrowingVI. External Shocks and Risks; Figure 9. External TOT Shocks: Shocks Persistence and Financing Schemes; Figure 10. TFP and Risk Premium Shocks and Risks; VII. Concluding Remarks; Appendix A. On Public Investment Efficiency, Rates of Return, and Growth; References |
| Record Nr. | UNINA-9910815644203321 |
|
Berg Andrew
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||