Governments’ Payment Discipline

The Macroeconomic Impact of Public Payment Delays and Arrears

Governments’ Payment Discipline
This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence ultimately economic growth. We test this prediction empirically for European Union countries using two complementary approaches.... READ MORE...

Publication date: January 2015
ISBN 9781484317020
$18.00

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