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  1. The fiscal multiplier of European Structural Investment Funds
    aggregate and sectoral effects with an application to Slovenia
    Published: April 2021
    Publisher:  International Monetary Fund, [Washington, D.C.]

    In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first... more

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and significant multipliers and strong crowding-in of private investment. Our main findings show that positive shocks to ESI Funds are followed by an increase in output that ranges from 1.2 percent on impact, to 1.8 percent after 1 year, and by an increase in private investment between 0.7 and 0.8 percent of GDP. We address country heterogeneity by dividing countries according to key characteristics that have been known to affect multipliers. In particular, we find higher multipliers in a group of CEE countries that are important recipients of European funds and are characterized by fixed exchange rate regimes and sound public investment governance (e.g. Croatia and Slovenia). We also complement the aggregate analysis by estimating the effect of different types of public investment and the effect of public investment on different sectors of the economy

     

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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781513573762
    Other identifier:
    Series: IMF working paper ; WP/21, 118
    Subjects: fiscal multiplier; European Structural Investment funds; private investment; Slovenia; Foreign Exchange; Informal Economy; National Government Expenditures and Related Policies; Other Public Investment and Capital Stock; Underground Econom
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  2. The fiscal multiplier of European Structural Investment Funds
    aggregate and sectoral effects with an application to Slovenia
    Published: April 2021
    Publisher:  International Monetary Fund, [Washington, D.C.]

    In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first... more

    Access:
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    In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and significant multipliers and strong crowding-in of private investment. Our main findings show that positive shocks to ESI Funds are followed by an increase in output that ranges from 1.2 percent on impact, to 1.8 percent after 1 year, and by an increase in private investment between 0.7 and 0.8 percent of GDP. We address country heterogeneity by dividing countries according to key characteristics that have been known to affect multipliers. In particular, we find higher multipliers in a group of CEE countries that are important recipients of European funds and are characterized by fixed exchange rate regimes and sound public investment governance (e.g. Croatia and Slovenia). We also complement the aggregate analysis by estimating the effect of different types of public investment and the effect of public investment on different sectors of the economy

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781513573762
    Other identifier:
    Series: IMF working paper ; WP/21, 118
    Subjects: fiscal multiplier; European Structural Investment funds; private investment; Slovenia; Foreign Exchange; Informal Economy; National Government Expenditures and Related Policies; Other Public Investment and Capital Stock; Underground Econom
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen