While debt-financed productive public investment raises a country’s debt ratios in the short run, it can also generate higher growth, revenues, and exports, leading over time to lower debt ratios. This paper develops a framework to assess whether countries meet the conditions for realizing the net benefits over the costs of public investment debt financing. While it is possible to achieve debt sustainability with an appropriate mix of concessional...
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INFORMATION
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2014/02/01
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Document de travail de recherche sur les politiques
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WPS6766
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1
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1
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2014/02/01
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Disclosed
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Measuring the impact of debt-financed public investment
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Poverty Reduction & Economic Management