The puzzle of persistently negative interest rate-growth differentials : financial repression or income catch-up? /
The interest rate-growth differential (IRGD) shows a marked correlation with GDP per capita. It has been on average around 1 percentage point for large advanced economies during 1999-2008; but below -7 percentage points among non-advanced economies - exerting a powerful stabilizing influence on gove...
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Main Authors: | , , |
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Format: | Book |
Language: | English |
Published: |
[Washington, D.C.] :
International Monetary Fund,
©2011
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Series: | IMF working paper ;
WP/11/260 |
Subjects: | |
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