eBook

The limits of stabilization : infrastructure, public deficits and growth in Latin America

Serven, Luis, Easterly, William Russell

2003

Overview

Customers in the US and Canada please order from Stanford University Press at [phone] or visit their website at www.sup.org. Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and public deficits in the region. The book shows that in most countries private participation did not fully offset the public sector retrenchment. The result was a slowdown in infrastructure accumulation, which entailed a significant growth cost and weakened the intended impact of the infrastructure spending cuts on public sector insolvency. “This fascinating book highlights a neglected cost of two decades of fiscal austerity in Latin America. The authors' careful analysis reveals that the decline in public investment in infrastructure may have been expensive not only for growth, but for long-term fiscal solvency as well. Deserves to be read by every IMF economist (and many others besides).” Dani Rodrik, Harvard University

• Publisher: World Bank,Stanford Universitiy Press,World Bank Publications,The World Bank,Washington, DC: World Bank,Palo Alto, CA: Stanford University Press,The World Bank [u.a.]
• Subject: ACCOUNTING PRACTICES / ADJUSTMENT PROGRAM / ADJUSTMENT PROGRAMS / ANALYTICAL APPROACH / BANK PROFITS / BORROWING / BUDGET CONSTRAINT / BUDGET CONSTRAINTS / BUDGET DEFICIT / BUDGET DEFICITS / BUDGET PROCESS / CENTRAL BANK / COMMERCIAL BANKS / DEBT / DEBT RELIEF / DEFICIT CEILING / DEFICIT FINANCE / DEFICIT REDUCTION / DEFICIT TARGET / DEFICITS / DEVELOPING COUNTRIES / ECONOMIC ANALYSIS / ECONOMIC EFFICIENCY / ECONOMIC GROWTH / ECONOMIC SHOCKS / Economic stability / Economic stabilization / Economic stabilization -- Latin America / EMPIRICAL ANALYSIS / EQUILIBRIUM / EXCESS DEMAND / EXCHANGE RATE / EXTERNAL DEBT CRISES / FINANCIAL INSTITUTIONS / FISCAL ADJUSTMENT / FISCAL AUSTERITY / FISCAL DEFICITS / FISCAL PERFORMANCE / FISCAL POLICIES / FISCAL POLICY / FISCAL RETRENCHMENT / FISCAL YEAR / FOREIGN LOANS / FREE TRADE / GOVERNMENT ASSETS / GOVERNMENT DEBT / GOVERNMENT INTERVENTION / GOVERNMENT SHOULDERING / GOVERNMENT SPENDING / Haushaltsdefizit / INDUSTRIAL COUNTRIES / INFLATION / INFRASTRUCTURE / Infrastructure (Economics) / Infrastructure (Economics) -- Latin America / Infrastruktur / Infrastrukturinvestition / INTEREST COSTS / INTERNATIONAL MONETARY FUND / INVESTMENT SPENDING / IRRIGATION / Lateinamerika / Latin America / LAWS / LEGISLATION / LICENSES / LIQUIDITY / MACROECONOMIC / MACROECONOMIC PERFORMANCE / MACROECONOMIC STABILITY / MACROECONOMIC STABILIZATION / MACROECONOMICS / NATIONAL ACCOUNTING / NET WORTH / OIL / OUTPUT / PAYMENTS TO GOVERNMENT WORKERS / PENSION LIABILITIES / POLITICAL ECONOMY / POWER / PRESENT VALUE / PRIVATE SECTOR / PRIVATE SECTOR PARTICIPATION / PRIVATIZATION / PRODUCTION CAPACITY / PROVISION OF INFRASTRUCTURE / PUBLIC ASSETS / PUBLIC CAPITAL / PUBLIC CONSUMPTION / PUBLIC DEBT / PUBLIC DEFICITS / PUBLIC ENTERPRISES / PUBLIC EXPENDITURES / PUBLIC INFRASTRUCTURE / PUBLIC INVESTMENT / PUBLIC INVESTMENT IN INFRASTRUCTURE / PUBLIC REVENUES / PUBLIC SECTOR / PUBLIC SECTOR ECONOMICS / Public-private partnership / Public-private sector cooperation / Public-private sector cooperation -- Latin America / RATE OF RETURN / REGULATORY INSTITUTIONS ACCOUNTING / ROADS / SANITATION / SEWERAGE / STABILIZATION / STATE ASSETS / STATE BANKS / STATE ENTERPRISES / SUBSIDIARIES / SUBSIDIARY / TAX / TAX COLLECTION / TAX REVENUES / TAXES / TELECOMMUNICATIONS / TELEPHONE LINES / TRANSFERS OF FUNDS / TRANSPORT / USER CHARGES / UTILITIES / WATER / WATER SUPPLY / Öffentlich-private Partnerschaft
• ISBN: 0821354892, 0804749728, 9780821354896, 9780804749725