Fiscal Limits External Debt And Fiscal Policy In Developing Countries
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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.
Safe Debt And Uncertainty In Emerging Markets
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Author : Mr.Magnus Saxegaard
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-19
Safe Debt And Uncertainty In Emerging Markets written by Mr.Magnus Saxegaard 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 2014-12-19 with Business & Economics categories.
This paper develops a methodology for estimating a safe public debt level that would allow countries to remain below a maximum sustainable debt limit, taking into account the impact of uncertainty. Our analysis implies that fiscal policy should target a debt level well below the debt ceiling to allow space to absorb shocks that are likely to hit the economy. To illustrate our findings we apply the methodology to estimate a safe debt level for South Africa. Our results suggest that South Africa’s debt ceiling is around 60 percent of GDP, although uncertainty is high. Simulations suggest targeting a debt-to-GDP ratio of 40 percent of GDP would allow South Africa to remain below this debt ceiling over the medium-term with a high degree of confidence.
Government Spending Effects In Low Income Countries
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Author : Ms.Wenyi Shen
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-30
Government Spending Effects In Low Income Countries written by Ms.Wenyi Shen 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 2015-12-30 with Business & Economics categories.
Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations, that some of the prevalent features of LICs—different types of financing including aid, the marginal efficiency of public investment, and the degree of home bias—play a key role in determining the effects of fiscal policy and related multipliers in these countries. External financing like aid increases the resource envelope of the economy, mitigating the private sector crowding out effects of government spending and pushing up the output multiplier. The same external financing, however, tends to appreciate the real exchange rate and as a result, traded output can respond quite negatively, reducing the overall output multiplier. Although capital scarcity implies high returns to public capital in LICs, declines in public investment efficiency can substantially dampen the output multiplier. Since LICs often import substantial amounts of goods, public investment may not be as effective in stimulating domestic production in the short run.
Research Bulletin June 2014
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-12
Research Bulletin June 2014 written by International Monetary Fund. Research 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 2014-06-12 with Business & Economics categories.
Articles in the June 2014 issue of the IMF Research Bulletin look at “The Rise and Fall of Current Account Deficits in the Euro Area Periphery and the Baltics” (Joong Shik Kang and Jay C. Shambaugh) and “The Two Sides of the Same Coin?: Rebalancing and Inclusive Growth in China” (Il Houng Lee, Murtaza Syed, and Xin Wang). The Q&A looks at “Seven Questions on the Monetary Transmission Mechanism in Low-Income Countries” (Andrew Berg, Luisa Charry, Rafael A. Portillo, and Jan Vleck). This issue of the Research Bulletin includes updated listings of IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore. Readers can also find information on free access to a featured article from “IMF Economic Review.”
Fiscal Policy And Management In East Asia
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Author : Takatoshi Ito
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15
Fiscal Policy And Management In East Asia written by Takatoshi Ito and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.
Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Regional Economic Outlook October 2009 Sub Saharan Africa
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-02
Regional Economic Outlook October 2009 Sub Saharan Africa written by International Monetary Fund. African 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 2009-10-02 with Business & Economics categories.
Sub-Saharan Africa has been hit hard by the global recession, but signs of resilience remain. While South Africa and some other middle-income countries were caught in the turbulence of international financial markets, and oil exporters saw government revenues plunge, some countries with wider commodity bases have so far escaped the worst of the crisis. Also, and reassuringly, with stronger initial fiscal and external positions than in past downturns, most countries in the region have been able to partially absorb external shocks by allowing fiscal deficits to rise and reducing interest rates. Exchange rates have generally been allowed to adjust. With many families affected by the crisis, however, progress toward the Millennium Development Goals has receded. Looking ahead, fiscal policy must balance support for the recovery with enhancing future growth prospects, debt sustainability, and poverty reduction. Published biannually in May and October.
World Development Indicators 2009
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2009-01-01
World Development Indicators 2009 written by World Bank 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 2009-01-01 with Economic development categories.
Looking for accurate, up-to-date data on development issues? 'World Development Indicators' is the World Bank's premier annual compilation of data about development. This indispensable statistical reference allows you to consult over 900 indicators for some 150 economies and 14 country groups in more than 80 tables. It provides a current overview of the most recent data available as well as important regional data and income group analysis in six thematic sections: World View, People, Environment, Economy, States and Markets, and Global Links. World Development Indicators 2009 presents the most current and accurate development data on both a national level and aggregated globally. It allows you to monitor the progress made toward meeting the Millennium Development Goals endorsed by the United Nations and its member countries, the World Bank, and a host of partner organizations. These goals, which focus on development and the elimination of poverty, serve as the agenda for international development efforts.
Annual Report Of The Executive Directors For The Fiscal Year
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 1980
Annual Report Of The Executive Directors For The Fiscal Year written by International Monetary Fund and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Foreign exchange categories.
Inequality Inclusive Growth And Fiscal Policy In Asia
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Author : Donghyun Park
language : en
Publisher: Routledge
Release Date : 2015-04-17
Inequality Inclusive Growth And Fiscal Policy In Asia written by Donghyun Park and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-17 with Business & Economics categories.
Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians. Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.
Business Environment For B Com Course Of Uttar Pradesh Universities
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Author : Shaikh Saleem
language : en
Publisher: Pearson Education India
Release Date :
Business Environment For B Com Course Of Uttar Pradesh Universities written by Shaikh Saleem and has been published by Pearson Education India this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.