Optimal fiscal policy and different degrees of access to international capital markets
Empirically, the cyclical pattern of scal policy differs between developed and developing countries, with in particular much greater pro-cyclicality and volatility of public investment in developing countries. In this paper I provide a theoretical explanation for the observed differences by analyzin...
Main Author: | Kuralbayeva, K |
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Format: | Working paper |
Published: |
University of Oxford
2011
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