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Journal article

Bottlenecks in ramping up public investment.

Abstract:

A windfall in a developing economy with capital scarcity and investment adjustment costs facing a temporary windfall should be used to give more consumption to poorer present generations and to speed up development by ramping up public investment and paying off debt taking due account of the increasing inefficiency as investment gets ramped up. The optimal strategy requires negative genuine saving; the permanent income requires zero genuine saving. The optimal real consumption increments are ...

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Publisher copy:
10.1007/s10797-012-9225-0
Publisher:
Springer
Journal:
International Tax and Public Finance More from this journal
Volume:
19
Issue:
4
Pages:
509 - 538
Publication date:
2012-01-01
DOI:
ISSN:
0927-5940
Language:
English
UUID:
uuid:fadde46a-7610-423c-8266-875e6417fc3f
Local pid:
oai:economics.ouls.ox.ac.uk:15376
Deposit date:
2013-04-20

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