The motives to borrow
Governments issue debt for good and bad reasons. While the good reasons-intertemporal tax-smoothing, fiscal stimulus, and asset management-can explain some of the increases in public debt in recent years, they cannot account for all of the observed changes. Bad reasons for borrowing are driven by po...
| Main Author: | |
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund,
[2019]
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| Series: | IMF working paper ;
WP/19/101. |
| Subjects: | |
| Online Access: | EBSCOhost Перейти в каталог НБ ТГУ |
| LEADER | 02759cam a22004931i 4500 | ||
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| 020 | |a 1498315321 | ||
| 020 | |a 9781498315326 |q (electronic bk.) | ||
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| 049 | |a MAIN | ||
| 100 | 1 | |a Fatás, A. |q (Antonio), |9 913178 | |
| 245 | 1 | 4 | |a The motives to borrow |c by Antonio Fatás, Atish R. Ghosh, Ugo Panizza, Andrea F. Presbitero. |
| 264 | 1 | |a [Washington, D.C.] |b International Monetary Fund, |c [2019] | |
| 300 | |a 1 online resource (54 pages) | ||
| 490 | 1 | |a IMF Working Paper ; |v WP/19/101 | |
| 505 | 0 | |a Good motives to borrow -- Bad reasons to issue debt -- Debt, growth and Investment. | |
| 520 | |a Governments issue debt for good and bad reasons. While the good reasons-intertemporal tax-smoothing, fiscal stimulus, and asset management-can explain some of the increases in public debt in recent years, they cannot account for all of the observed changes. Bad reasons for borrowing are driven by political failures associated with intergenerational transfers, strategic manipulation, and common pool problems. These political failures are a major cause of overborrowing though budgetary institutions and fiscal rules can play a role in mitigating governments' tendencies to overborrow. While it is difficult to establish a clear causal link from high public debt to low output growth, it is likely that some countries pay a price-in terms of lower growth and greater output volatility-for excessive debt accumulation. | ||
| 588 | 0 | |a Online resource; title from PDF title page (IMF, viewed Aug 31, 2020). | |
| 653 | 0 | |a Debts, Public |x Economic aspects. | |
| 653 | 0 | |a Economic development. | |
| 653 | 0 | |a Fiscal policy. | |
| 653 | 7 | |a Debts, Public |x Economic aspects. |2 fast |0 (OCoLC)fst00888860 | |
| 653 | 7 | |a Economic development. |2 fast |0 (OCoLC)fst00901785 | |
| 653 | 7 | |a Fiscal policy. |2 fast |0 (OCoLC)fst00925806 | |
| 655 | 0 | |a EBSCO eBooks |9 905790 | |
| 655 | 4 | |a Electronic books. |9 899821 | |
| 700 | 1 | |a Ghosh, Atish R., |9 913179 | |
| 700 | 1 | |a Panizza, Ugo, |9 913180 | |
| 710 | 2 | |a International Monetary Fund, |e issuing body. |9 173503 | |
| 830 | 0 | |a IMF working paper ; |v WP/19/101. |9 913013 | |
| 856 | 4 | 0 | |3 EBSCOhost |u https://www.lib.tsu.ru/limit/2023/EBSCO/2149505.pdf |
| 856 | |y Перейти в каталог НБ ТГУ |u https://koha.lib.tsu.ru/cgi-bin/koha/opac-detail.pl?biblionumber=1014137 | ||
| 910 | |a EBSCO eBooks | ||
| 999 | |c 1014137 |d 1014137 | ||
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