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Sustained Debt Reduction: The Jamaica Exception

Serkan Arslanalp et al.

Brookings Papers on Economic Activity2024https://doi.org/10.1353/eca.2024.a943915article
AJG 3ABDC A
Weight
0.43

Abstract

ABSTRACT: Reducing high public debt is key for countries seeking to restore fiscal capacity and resilience in the wake of recent crises. But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the last decade, a record achieved by running large, persistent primary budget surpluses. Well-designed fiscal rules combined with social partnership agreements making for fiscal ownership are at the root of its achievement.

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https://doi.org/https://doi.org/10.1353/eca.2024.a943915

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@article{serkan2024,
  title        = {{Sustained Debt Reduction: The Jamaica Exception}},
  author       = {Serkan Arslanalp et al.},
  journal      = {Brookings Papers on Economic Activity},
  year         = {2024},
  doi          = {https://doi.org/https://doi.org/10.1353/eca.2024.a943915},
}

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Sustained Debt Reduction: The Jamaica Exception

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Evidence weight

0.43

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.31 × 0.4 = 0.13
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.