Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies

WP/13/238

Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies
This paper assesses the effects of fiscal consolidations associated with public debt reduction on medium-term output growth during periods of private debt deleveraging. The analysis covers 107 countries and 79 episodes of public debt reduction driven by discretionary fiscal adjustments during 1980–2012. It shows that expenditure-based,... READ MORE...

Publication date: November 2013
ISBN 9781475516500
$18.00

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Publication date: November 2013

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Publication date: November 2013

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