How Long to Read Public Investment, Growth, and Debt Sustainability

How Long Does it Take to Read Public Investment, Growth, and Debt Sustainability?

It takes the average reader and 54 minutes to read Public Investment, Growth, and Debt Sustainability by Mr. Andrew Berg

Assuming a reading speed of 250 words per minute. Learn more

Description

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv) the macroeconomic adjustment required to ensure internal and external balance. Well-executed high-yielding public investment programs can substantially raise output and consumption and be self-financing in the long run. However, even if the long run looks good, transition problems can be formidable when concessional financing does not cover the full cost of the investment program. Covering the resulting gap with tax increases or spending cuts requires sharp macroeconomic adjustments, crowding out private investment and consumption and delaying the growth benefits of public investment. Covering the gap with domestic borrowing market is not helpful either: higher domestic rates increase the financing challenge and private investment and consumption are still crowded out. Supplementing with external commercial borrowing, on the other hand, can smooth these difficult adjustments, reconciling the scaling up with feasibility constraints on increases in tax rates. But the strategy may be also risky. With poor execution, sluggish fiscal policy reactions, or persistent negative exogenous shocks, this strategy can easily lead to unsustainable public debt dynamics. Front-loaded investment programs and weak structural conditions (such as low returns to public capital and poor execution of investments) make the fiscal adjustment more challenging and the risks greater.

How long is Public Investment, Growth, and Debt Sustainability?

Public Investment, Growth, and Debt Sustainability by Mr. Andrew Berg is 54 pages long, and a total of 13,716 words.

This makes it 18% the length of the average book. It also has 17% more words than the average book.

How Long Does it Take to Read Public Investment, Growth, and Debt Sustainability Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 14 minutes to read Public Investment, Growth, and Debt Sustainability aloud.

What Reading Level is Public Investment, Growth, and Debt Sustainability?

Public Investment, Growth, and Debt Sustainability is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Public Investment, Growth, and Debt Sustainability?

Public Investment, Growth, and Debt Sustainability by Mr. Andrew Berg is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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