Walking up the down escalator : public investment and fiscal stability (English)

When growth-promoting spending is cut so much that the present value of future government revenues falls by more than the immediate improvement in the cash deficit, fiscal adjustment becomes like walking up the down escalator. Although short-term cash flows matter, too tight a focus on them encourages governments to invest too little. Cash-flow targets also encourage governments to shift investment spending off budget by seeking private investment...

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Author

Easterly,William R.;

Irwin,Timothy C.;

Serven,Luis;
Document Date
2008/01/08
Document Type
Journal Article
Report Number
76781
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2013/04/23
Disclosure Status
Disclosed
Doc Name
Walking up the down escalator : public investment and fiscal stability
Keywords
net worth

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Citation

Easterly,William R.; Irwin,Timothy C.; Serven,Luis.

Walking up the down escalator : public investment and fiscal stability (English). Washington DC : World Bank. http://documents.worldbank.org/curated/en/263231468155368356

Walking up the down escalator : public investment and fiscal stability (English)

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