Fiscal Adjustment In Transition Countries
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Fiscal Adjustment In Transition Countries
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Author : MissCatriona Purfield
language : en
Publisher: International Monetary Fund
Release Date : 2003-02-01
Fiscal Adjustment In Transition Countries written by MissCatriona Purfield and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-02-01 with Business & Economics categories.
In the 1990s, transition countries underwent large adjustments to address fiscal imbalances. This paper examines whether the factors identified in the literature on advanced economies, the size and composition of adjustment, are important in transition economies. It finds that larger consolidations were more successful in addressing fiscal imbalances on a durable basis. Policies focusing on expenditure reductions were more successful than those relying on revenue increases. There is little evidence of expansionary fiscal contractions, but fiscal contractions did not have a significantly negative impact on growth either. Few fiscal stimuli succeeded in boosting growth.
Fiscal Adjustment In Transition Countries
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Author : Catriona Purfield
language : en
Publisher:
Release Date : 2007
Fiscal Adjustment In Transition Countries written by Catriona Purfield and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
In the 1990s, transition countries underwent large adjustments to address fiscal imbalances. This paper examines whether the factors identified in the literature on advanced economies, the size and composition of adjustment, are important in transition economies. It finds that larger consolidations were more successful in addressing fiscal imbalances on a durable basis. Policies focusing on expenditure reductions were more successful than those relying on revenue increases. There is little evidence of expansionary fiscal contractions, but fiscal contractions did not have a significantly negative impact on growth either. Few fiscal stimuli succeeded in boosting growth.
New Evidence On Fiscal Adjustment And Growth In Transition Economies
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Author : Alejandro Simone
language : en
Publisher: International Monetary Fund
Release Date : 2006-10
New Evidence On Fiscal Adjustment And Growth In Transition Economies written by Alejandro Simone and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10 with Business & Economics categories.
This paper analyzes the relationship between fiscal adjustment and real GDP growth in a panel of 26 transition economies during 1992-2001. Unlike most previous studies using cross-country regressions, the paper finds a positive and statistically significant relationship between fiscal adjustment and growth that is robust to different model specifications and estimation methods. The paper also presents country experiences to delve deeper into the mechanisms that may underlie this statistical relationship.
Fiscal Adjustments In Transition Economies
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Author : Barbara Fakin
language : en
Publisher: World Bank Publications
Release Date : 1997
Fiscal Adjustments In Transition Economies written by Barbara Fakin and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Ajuste estructural categories.
Fiscal Issues In Adjustment In Developing Countries
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Author : Jaime de Melo
language : en
Publisher: Springer
Release Date : 1993-07-15
Fiscal Issues In Adjustment In Developing Countries written by Jaime de Melo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-07-15 with Business & Economics categories.
The book deals with aspects of the recent fiscal crisis in developing countries. Macro aspects cover theoretical underpinning of fiscal policy, the size of the required adjustment and the link between internal and external transfers. Micro aspects cover the relation between private and public investment, the experience of tax and expenditure reforms, and the impact of fiscal adjustment on the poor.
Fiscal Limits External Debt And Fiscal Policy In Developing Countries
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Author : Huixin Bi
language : en
Publisher: International Monetary Fund
Release Date : 2014-03-31
Fiscal Limits External Debt And Fiscal Policy In Developing Countries written by Huixin Bi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-31 with Business & Economics categories.
This paper studies fiscal policy effects in developing countries with external debt and sovereign default risks. State-dependent distributions of fiscal limits are simulated based on macroeconomic uncertainty and fiscal policy specifications. The analysis shows that expected future revenue plays an important role in the low fiscal limits of developing countries, relative to those of developed countries. External debt carries additional risks since large devaluation of the real exchange rate can suddenly raise default probabilities. Consistent with majority views, fiscal consolidations are counterproductive in the short and medium runs. When an economy approaches its fiscal limits, government spending can be less expansionary than in a low-debt state. As more revenue is required to service debt in a high-debt state, higher tax rates raise the economic cost of increasing consumption, reducing the fiscal multiplier.
Fiscal Adjustment For Stability And Growth
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2006-01-27
Fiscal Adjustment For Stability And Growth written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-27 with Business & Economics categories.
This paper aims to inform policymakers, and other interested parties, about the IMF’s approach to fiscal adjustment. The approach focuses on the role of sound and sustainable government finances in promoting macroeconomic stability and growth. Achieving, and maintaining, such a fiscal position often requires adjusting fiscal policy, as well as strengthening fiscal institutions. Fiscal adjustment may involve either tightening or loosening the fiscal stance, depending on individual country circumstances.
Fiscal Policy In Developing Countries
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Author : Roberto Perotti
language : en
Publisher: World Bank Publications
Release Date : 2007
Fiscal Policy In Developing Countries written by Roberto Perotti and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Economic development categories.
This paper surveys fiscal policy in developing countries from the point of view of long-run growth. The first section reviews existing methodologies to estimate the effects of fiscal policy shocks and of systematic fiscal policy, with time series or with cross-sectional methods, and their applicability to developing countries. The second section surveys optimal fiscal policy in developing countries, by considering the role of the intertemporal government budget, and sustainability and solvency. It also reviews the fuzzy debate on "fiscal space" and "macroeconomic space" - and the usefulness (or lack thereof) of these terms for policy analysis. The third section asks what theory tells us about the optimal cyclical behavior of fiscal policy in developing countries. It shows that it very much depends on the assumptions about the interactions between credit market imperfections at the individual, firms, or government level, and on the supply of external funds to the country. Different sets of assumptions lead to different implications about optimal cyclical behavior. The available evidence on the cyclical behavior of fiscal policy, and possible reasons for the observed prevalence of a procyclical behavior in developing countries, is also reviewed. If one agrees that fiscal policy is indeed less countercyclical than we think is optimal, the issue is how to correct the problem. One obvious question is why government do not self-insure, i.e. why they do not accumulate assets in upturns and decumulate them in downturns. This leads to the analysis of fiscal rules and stabilization funds, in the fourth section. The last section concludes with what the author considers important research and policy questions in each part.
Fiscal Adjustment In Imf Supported Programs
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Author :
language : en
Publisher: Lippincott Williams & Wilkins
Release Date : 2003-11-17
Fiscal Adjustment In Imf Supported Programs written by and has been published by Lippincott Williams & Wilkins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-17 with Business & Economics categories.
Using a cross-country sample of 169 IMF-supported programs and detailed studies of 15 programs, this evaluation report examines various aspects of fiscal adjustment in IMF-supported programs. It presents evidence that does not support some critics’ view that IMF-supported programs typically adopt a one-size-fits-all approach to fiscal adjustment, nor the perception that programs always involve austerity by targeting reductions in public spending. The report also proposes a number of recommendations for IMF surveillance and program design in the future.
Fiscal Issues In Adjustment Programs In Developing Countries
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Author : Vito Tanzi
language : en
Publisher:
Release Date : 1990
Fiscal Issues In Adjustment Programs In Developing Countries written by Vito Tanzi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Developing countries categories.