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Fiscal Deficits and Growth in Developing Countries.

Abstract:

This paper examines the relation between fiscal deficits and growth for a panel of 45 developing countries. Based on a consistent treatment of the government budget constraint, it finds evidence of a threshold effect at a level of the deficit around 1.5% of GDP. While there appears to be a growth payoff to reducing deficits to this level, this effect disappears or reverses itself for further fiscal contraction. The magnitude of this payoff, but not its general character, necessarily depends o...

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Publisher:
Elsevier
Journal:
Journal of Public Economics More from this journal
Volume:
89
Issue:
4
Pages:
571 - 597
Publication date:
2005-01-01
DOI:
ISSN:
0047-2727
Language:
English
UUID:
uuid:6b6f88fa-1b40-4672-a864-2f82c5a4a7f2
Local pid:
oai:economics.ouls.ox.ac.uk:11047
Deposit date:
2011-08-16

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