| Description |
1 online resource (42 pages) : illustrations (some color) |
| Series |
IMF Working Paper ; WP/14/50 |
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IMF working paper ; WP/14/50.
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| Contents |
Cover; Contents; I. Introduction; II. The DIGNAR Model; A. Households; B. Firms; C. The Government; D. Identities and Market Clearing Conditions; III. Calibration; IV. Scaling up Public Investment with a Resource Windfall; A. The Spend-As-You-Go Approach versus the Delinked Investment Approach; B. Front Loading Public Investment with Commercial Borrowing; C. Domestic versus External Commercial Borrowing; D. Public Investment Efficiency, Return on Public Capital, and Debt Sustainability; V. Conclusions; Tables; 1. Baseline calibration; Figures |
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1. Different speeds of investment scaling-ups. X-axis is in years. 2. Different degrees of frontloading in investment scaling-ups. X-axis is in years.; 3. Spend-as-you-go vs. delinked investment approach: no additional commercial borrowing. X-axis is in years; 4. Spend-as-you-go vs. delinked investment approach (continued): no additional commercial borrowing. X-axis is in years; 5. Various degrees of investment frontloading: external commercial borrowing. X axis is in years; 6. Various degrees of investment frontloading (continued): external commercial borrowing. X-axis is in years |
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7. Various degrees of investment frontloading (concluded): external commercial borrowing. X-axis is in years8. Domestic vs. external commercial borrowing. X-axis is in years; 9. Increasing public investment efficiency and/or higher return to public capital: external commercial borrowing and adverse natural resource scenario. X-axis is in years; VI. References |
| Summary |
This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity c |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from PDF title page (ebrary, viewed May 1, 2014) |
| Subject |
Debts, Public -- Developing countries -- Econometric models
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Economic development -- Developing countries -- Econometric models
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Public investments -- Developing countries -- Econometric models
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Debts, Public -- Econometric models
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Economic development -- Econometric models
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Public investments -- Econometric models
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Developing countries
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| Form |
Electronic book
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| Author |
Yang, Shu-Chun Susan, 1971- author.
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Zanna, Luis-Felipe, author
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International Monetary Fund, issuing body.
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| ISBN |
9781484347942 |
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1484347943 |
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