{
  "title": "Public Debt and Productivity: The Difficult Quest for Growth in Jamaica",
  "publication": "IMF Working Papers, October 1, 2006",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/public-debt-and-productivity-the-difficult-quest-for-growth-in-jamaica-19489",
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  "summary": "The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The paper analyzes Jamaica's experience of low growth despite consistently high investment.\n- Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth.\n- In Jamaica, high public debt has been associated with macroeconomic uncertainty and an output structure that relied excessively on a few maturing sectors with limited scope for productivity growth.\n- Public investment has been crowded out by debt service, further adversely affecting productivity growth."
    },
    {
      "heading": "Cross-country evidence",
      "content": "- Significant and negative relationship identified between total public debt and productivity growth (as stated in the study's cross-country analysis)."
    },
    {
      "heading": "Channels through which high public debt affected Jamaica",
      "content": "- Macroeconomic uncertainty linked to high public debt.\n- Output structure dependence on a few maturing sectors with limited scope for productivity growth.\n- Crowding out of public investment by debt service, negatively impacting productivity growth."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Informal economy, Productivity, Public debt, Public investment and public-private partnerships (PPP), Public investment spending\n- Keywords: debt, GDP, investment, Jamaica, WP\n\n---\n\n Content in this bundle\n\n- Selected Growth Trends, 1980–2004\n  - Selected Growth Trends, 1980–2004 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Selected Growth Trends, 1980–2004 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/public-debt-and-productivity-the-difficult-quest-for-growth-in-jamaica-19489"
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  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/public-debt-and-productivity-the-difficult-quest-for-growth-in-jamaica-19489/index.md)",
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    "Authors: Rodolphe Blavy",
    "Published: October 1, 2006",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451864953.001",
    "The paper analyzes Jamaica's experience of low growth despite consistently high investment.",
    "Cross-country analysis provides evidence of a significant and negative relationship between total public debt and productivity growth.",
    "In Jamaica, high public debt has been associated with macroeconomic uncertainty and an output structure that relied excessively on a few maturing sectors with limited scope for productivity growth.",
    "Public investment has been crowded out by debt service, further adversely affecting productivity growth.",
    "Significant and negative relationship identified between total public debt and productivity growth (as stated in the study's cross-country analysis).",
    "Macroeconomic uncertainty linked to high public debt.",
    "Output structure dependence on a few maturing sectors with limited scope for productivity growth.",
    "Crowding out of public investment by debt service, negatively impacting productivity growth.",
    "Subject: Informal economy, Productivity, Public debt, Public investment and public-private partnerships (PPP), Public investment spending",
    "Keywords: debt, GDP, investment, Jamaica, WP",
    "**Selected Growth Trends, 1980–2004**"
  ],
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