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    Полное описание

    Fatás, Antonio. The motives to borrow / by Antonio Fatás, Atish R. Ghosh, Ugo Panizza, Andrea F. Presbitero. ; International Monetary Fund,. - [Washington, D.C.] : International Monetary Fund, 2019. - 2 p. - URL: https://cat.gpntb.ru/?id=FT/ShowFT&sid=e9570ae9b41a12614dab1800a0ee9510. - ISBN 1498315321. - ISBN 9781498315326. - Текст : электронный.
    Содержание:
    Good motives to borrow -- Bad reasons to issue debt -- Debt, growth and Investment.
    ГРНТИ УДК
    06.0133

    Рубрики:
    Debts, Public -- Economic aspects
    Economic development
    Fiscal policy
    Debts, Public -- Economic aspects
    Economic development
    Fiscal policy
    Экономика

    Аннотация: 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.
    Доп. точки доступа:
    Ghosh, A.
    Panizza, U.
    International Monetary Fund,

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