All Outputs (7)

Bankruptcy costs, idiosyncratic risk, and long-run growth (2022)
Journal Article
Acosta-Ormaechea, S., & Morozumi, A. (2023). Bankruptcy costs, idiosyncratic risk, and long-run growth. Macroeconomic Dynamics, 27(7), 1807-1842. https://doi.org/10.1017/s1365100522000475

This paper analyzes how idiosyncratic risk, measured by the variance of firm-level idiosyncratic shocks, affects long-run growth when bankruptcy costs are present. These costs are incurred by creditors during the bankruptcy procedure of failing firms... Read More about Bankruptcy costs, idiosyncratic risk, and long-run growth.

The value-added tax and growth: design matters (2021)
Journal Article
Acosta-Ormaechea, S., & Morozumi, A. (2021). The value-added tax and growth: design matters. International Tax and Public Finance, 28(5), 1211-1241. https://doi.org/10.1007/s10797-021-09681-2

Previous research has shown that changes in the composition of tax revenue affect long-run growth. However, little is yet known about whether the way tax revenue is raised matters for growth. This paper examines whether, in the context of OECD countr... Read More about The value-added tax and growth: design matters.

Inflation targeting in low‐income countries: Does IT work? (2020)
Journal Article
Morozumi, A., Bleaney, M., & Mumuni, Z. (2020). Inflation targeting in low‐income countries: Does IT work?. Review of Development Economics, 24(4), 1529-1550. https://doi.org/10.1111/rode.12690

Previous research on inflation targeting (IT) has focused on high‐income countries and emerging market economies (EMEs). Only recently have sufficient data accumulated for the performance of IT in low‐income countries (LICs) to be assessed. We show t... Read More about Inflation targeting in low‐income countries: Does IT work?.

Inflation Targeting and Monetary Policy in Ghana (2019)
Journal Article
Bleaney, M., Morozumi, A., & Mumuni, Z. (2020). Inflation Targeting and Monetary Policy in Ghana. Journal of African Economies, 29(2), 121–145. https://doi.org/10.1093/jae/ejz021

An inflation-targeting regime has been in place in Ghana since 2007, but the inflation rate has remained persistently high. During the 2007–2017 period, inflation exceeded the announced target by four percentage points on average, despite the target... Read More about Inflation Targeting and Monetary Policy in Ghana.

Political budget cycles and media freedom (2016)
Journal Article
Veiga, F. J., Veiga, L. G., & Morozumi, A. (2017). Political budget cycles and media freedom. Electoral Studies, 45, https://doi.org/10.1016/j.electstud.2016.11.008

This paper examines the effects of elections on the conduct of central governments' fiscal policies. To do so, it uses a unique panel database that includes disaggregated spending and revenue series at the central government level for multiple countr... Read More about Political budget cycles and media freedom.

Public spending reallocations and economic growth across different income levels (2016)
Journal Article
Acosta-Ormaechea, S., & Morozumi, A. (2017). Public spending reallocations and economic growth across different income levels. Economic Inquiry, 55(1), 98-114. https://doi.org/10.1111/ecin.12382

This paper examines the effects of public spending reallocations on economic growth. Assembling a disaggregated public spending dataset of 83 countries over the 1970-2011 period, we show that spending reallocations towards education, from health and... Read More about Public spending reallocations and economic growth across different income levels.

Public spending and growth: The role of government accountability (2016)
Journal Article
Morozumi, A., & Viega, F. J. (2016). Public spending and growth: The role of government accountability. European Economic Review, 89, 148-171. https://doi.org/10.1016/j.euroecorev.2016.07.001

This paper examines the role of institutions in the nexus between public spending and economic growth. Empirical results based on a newly assembled dataset of 80 countries over the 1970-2010 period suggest that particularly when institutions prompt g... Read More about Public spending and growth: The role of government accountability.