IMF now seeks fiscal intervention:
Quote
Fiscal policy is an effective tool for supporting growth. While it is difficult to disentangle the impact of fiscal reforms from other factors and to determine causality with certainty, the analysis suggests that they could lift medium- to long-term growth by ¾ of a percentage point in advanced economies and even more in developing economies.
Unquote
Source:
FISCAL POLICY AND LONG-TERM GROWTH
Electronic copies of IMF Policy Papers are available to the public from http://www.imf.org/external/pp/ppindex.as
Quote
Fiscal policy is an effective tool for supporting growth. While it is difficult to disentangle the impact of fiscal reforms from other factors and to determine causality with certainty, the analysis suggests that they could lift medium- to long-term growth by ¾ of a percentage point in advanced economies and even more in developing economies.
Unquote
Source:
FISCAL POLICY AND LONG-TERM GROWTH
Electronic copies of IMF Policy Papers are available to the public from http://www.imf.org/external/pp/ppindex.as
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