{
  "title": "Fiscal Policy and Long-Term Growth",
  "publication": "Policy Papers, April 20, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-and-long-term-growth-pp4964",
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  "summary": "This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: April 20, 2015\n- Format: web landing page with Download PDF option\n- Core purpose: explores how fiscal policy can affect medium- to long-term growth, identifies main channels through which fiscal policy influences growth, and distills practical lessons for policymakers.\n- Emphasis: the particular mix of policy measures will depend on country-specific conditions, capacities, and preferences."
    },
    {
      "heading": "Key findings",
      "content": "- Fiscal policy affects medium- to long-term growth through multiple channels (channels are identified in the paper).\n- Practical lessons for policymakers are distilled based on these channels.\n- The paper leverages several analytical approaches to assess fiscal policy effects on growth:\n  - A novel approach for country studies.\n  - A statistical analysis of growth accelerations following fiscal reforms.\n  - Simulations of an endogenous growth model.\n- The analysis draws on the Fund’s extensive technical assistance on fiscal reforms."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Policy mixes must be tailored to country-specific conditions, capacities, and preferences.\n- Fiscal reforms that are informed by country studies, statistical evidence on growth accelerations, and model simulations can better support medium- to long-term growth.\n- Practical lessons are distilled for policymakers (policy guidance is presented in the paper)."
    },
    {
      "heading": "Methodology and evidence base",
      "content": "- The paper synthesizes:\n  - Fund technical assistance experience on fiscal reforms.\n  - A novel country-study approach.\n  - Statistical analysis of growth accelerations following fiscal reforms.\n  - Endogenous growth model simulations."
    },
    {
      "heading": "Subject areas covered",
      "content": "- Developed countries\n- Emerging markets\n- Low-income developing countries\n- Fiscal policy\n- Fiscal reforms\n- Public debt\n- Economic growth\n- Economic models\n- Time series"
    },
    {
      "heading": "Additional metadata visible on the landing page",
      "content": "- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.\n- Preview citation example included: Fiscal Policy and Long-Term Growth, (USA: International Monetary Fund, 0) accessed 9/18/2026\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-and-long-term-growth-pp4964\n\n---\n\n Content in this bundle\n\n- Fiscal Policy and Long-Term Growth; IMF Policy Paper, April 20, 2015\n  - Fiscal Policy and Long-Term Growth; IMF Policy Paper, April 20, 2015 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Fiscal Policy and Long-Term Growth; IMF Policy Paper, April 20, 2015 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-and-long-term-growth-pp4964"
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    "Published: April 20, 2015",
    "Series: Policy Papers",
    "Stock No: ISBN",
    "Publication date: April 20, 2015",
    "Format: web landing page with Download PDF option",
    "Core purpose: explores how fiscal policy can affect medium- to long-term growth, identifies main channels through which fiscal policy influences growth, and distills practical lessons for policymakers.",
    "Emphasis: the particular mix of policy measures will depend on country-specific conditions, capacities, and preferences.",
    "Fiscal policy affects medium- to long-term growth through multiple channels (channels are identified in the paper).",
    "Practical lessons for policymakers are distilled based on these channels.",
    "The paper leverages several analytical approaches to assess fiscal policy effects on growth:",
    "The analysis draws on the Fund’s extensive technical assistance on fiscal reforms.",
    "Policy mixes must be tailored to country-specific conditions, capacities, and preferences.",
    "Fiscal reforms that are informed by country studies, statistical evidence on growth accelerations, and model simulations can better support medium- to long-term growth.",
    "Practical lessons are distilled for policymakers (policy guidance is presented in the paper).",
    "The paper synthesizes:",
    "Developed countries",
    "Emerging markets",
    "Low-income developing countries",
    "Fiscal policy",
    "Fiscal reforms",
    "Public debt",
    "Economic growth",
    "Economic models",
    "Time series",
    "The IMF eLibrary offers over 25,000 IMF publications in multiple formats.",
    "Preview citation example included: Fiscal Policy and Long-Term Growth, (USA: International Monetary Fund, 0) accessed 9/18/2026",
    "**Fiscal Policy and Long-Term Growth; IMF Policy Paper, April 20, 2015**"
  ],
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