Fiscal Adjustment In Transition Countries

Author : MissCatriona Purfield
Publisher : International Monetary Fund
Page : 23 pages
File Size : 52,9 Mb
Release : 2003-02-01
Category : Business & Economics
ISBN : 9781451845471

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Fiscal Adjustment in Transition Countries by MissCatriona Purfield Pdf

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.

Author : Catriona Purfield
Publisher : Unknown
Page : 22 pages
File Size : 49,7 Mb
Release : 2007
Category : Electronic
ISBN : OCLC:1291168505

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Fiscal Adjustment in Transition Countries by Catriona Purfield Pdf

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.

Author : Alejandro Simone,Alex Segura-Ubiergo,Sanjeev Gupta
Publisher : International Monetary Fund
Page : 40 pages
File Size : 50,8 Mb
Release : 2006-10
Category : Business & Economics
ISBN : UCSD:31822036089209

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New Evidence on Fiscal Adjustment and Growth in Transition Economies by Alejandro Simone,Alex Segura-Ubiergo,Sanjeev Gupta Pdf

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.

Author : Barbara Fakin,Alain de Crombrugghe
Publisher : World Bank Publications
Page : 38 pages
File Size : 40,6 Mb
Release : 1997
Category : Ajuste estructural
ISBN : 8210379456XXX

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Fiscal Adjustments in Transition Economies by Barbara Fakin,Alain de Crombrugghe Pdf

Author : Jaime de Melo,Riccardo Faini
Publisher : Springer
Page : 232 pages
File Size : 54,5 Mb
Release : 1993-07-15
Category : Business & Economics
ISBN : 9781349227907

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Fiscal Issues in Adjustment in Developing Countries by Jaime de Melo,Riccardo Faini Pdf

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.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 64 pages
File Size : 48,5 Mb
Release : 2006-01-27
Category : Business & Economics
ISBN : 9781498333016

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Fiscal Adjustment for Stability and Growth by International Monetary Fund. Fiscal Affairs Dept. Pdf

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.

Author : Huixin Bi,Ms.Wenyi Shen,Ms.Susan S. Yang
Publisher : International Monetary Fund
Page : 37 pages
File Size : 47,9 Mb
Release : 2014-03-31
Category : Business & Economics
ISBN : 9781475521665

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Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries by Huixin Bi,Ms.Wenyi Shen,Ms.Susan S. Yang Pdf

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.

Author : Roberto Perotti
Publisher : World Bank Publications
Page : 46 pages
File Size : 55,9 Mb
Release : 2007
Category : Economic development
ISBN : 9787092014498

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Fiscal Policy in Developing Countries: by Roberto Perotti Pdf

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.

Author : Mr.James Daniel
Publisher : International Monetary Fund
Page : 80 pages
File Size : 42,7 Mb
Release : 2006-08-17
Category : Business & Economics
ISBN : 1589065131

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Fiscal Adjustment for Stability and Growth by Mr.James Daniel Pdf

The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.

Author : Mr.Vito Tanzi
Publisher : International Monetary Fund
Page : 404 pages
File Size : 40,6 Mb
Release : 1993-06-15
Category : Business & Economics
ISBN : 1557752753

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Transition to Market by Mr.Vito Tanzi Pdf

The IMF has been a major participant in the challenge of transforming many African, Asian, and European countries from centrally planned to market economies. The authors of this book, mainly staff members of the IMF, have distilled their firsthand experience with fiscal reform in transition economies into 15 case studies of these countries. In doing so they analyze issues of privatization, fiscal federalism, social safety nets, and the net worth of the Soviet Union. The editor of the volume is Vito Tanzi, Director of the IMF's Fiscal Affairs Department.

Author : Mr.Mario I. Bléjer,Mr.Ke-young Chu
Publisher : International Monetary Fund
Page : 404 pages
File Size : 45,7 Mb
Release : 1989-06-15
Category : Business & Economics
ISBN : 1557750343

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Fiscal Policy, Stabilization, and Growth in Developing Countries by Mr.Mario I. Bléjer,Mr.Ke-young Chu Pdf

Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.

Author : Mr.Sanjeev Gupta,Benedict J. Clements,Ms.Gabriela Inchauste
Publisher : International Monetary Fund
Page : 552 pages
File Size : 42,8 Mb
Release : 2004-09-17
Category : Business & Economics
ISBN : STANFORD:36105115131141

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Helping Countries Develop by Mr.Sanjeev Gupta,Benedict J. Clements,Ms.Gabriela Inchauste Pdf

Sets out principles for conducting fiscal policy in developing countries. Examines the role of public spending in meeting the Millennium Development Goals. Discusses the determinants of fiscal sustainability, the effectiveness of social spending, the limits to absorptive capacity, the volatility of aid flows and their impact on dependency, and a range of other contentious issues.

Author : Richard Goode
Publisher : Brookings Institution Press
Page : 345 pages
File Size : 49,6 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9780815715719

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Government Finance in Developing Countries by Richard Goode Pdf

Fiscal systems throughout the world have been severely strained in recent years, as governments have assumed more responsibility for economic management. The developing counties, where needs are greatest and resources scarcest, have found their finances especially hard pressed. This book examines a range of issues in government finance that confront developing countries: the formulation and execution of national budget; the objectives, size, and effects of expenditures; the purposes and results of various ways of taxing income, wealth, consumption, exports, or natural resources; the role of foreign and domestic borrowings; and the consequences of financing by money creation. The book also relates fiscal operations to goals such as growth and development, economic stabilization, equitable distribution, and national self-reliance. The author stresses the need to take account of economic and political conditions and particularly administrative capacity when evaluating the suitability of fiscal measures in developing countries.

Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 285 pages
File Size : 52,5 Mb
Release : 2012-11-15
Category : Business & Economics
ISBN : 9780821396315

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Is Fiscal Policy the Answer? by Blanca Moreno-Dodson Pdf

The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.

Author : Anonim
Publisher : Lippincott Williams & Wilkins
Page : 134 pages
File Size : 42,8 Mb
Release : 2003-11-17
Category : Business & Economics
ISBN : 1589062744

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Fiscal Adjustment in IMF-Supported Programs by Anonim Pdf

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.