Fernando Blanco, Frederieke Koehler, Pablo Saavedra, Emilia Skrok Fiscal Rules and Economic Size in Latin America and the Caribbean 9781464813825

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Автор: Fernando Blanco, Frederieke Koehler, Pablo Saavedra, Emilia Skrok
Название: Fiscal Rules and Economic Size in Latin America and the Caribbean
ISBN: 9781464813825
Издательство: Mare Nostrum (Eurospan)
Классификация:

Экономика

Экономическая теория и философия

Макроэкономика

Рост экономики

Экономика развития и развивающиеся экономики

ISBN-10: 1464813825
Обложка/Формат: Paperback
Страницы: 144
Вес: 0.22 кг.
Дата издания: 30.10.2020
Серия: Latin american development forum
Язык: English
Иллюстрации: Col. figs, tables
Размер: 216 x 278 x 18
Читательская аудитория: Professional and scholarly
Ключевые слова: Economic growth,Economic theory & philosophy,Economics,Macroeconomics, BUSINESS & ECONOMICS / Development / Economic Development,BUSINESS & ECONOMICS / Economics / Macroeconomics
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Поставляется из: Англии
Описание: This book provides analytical and practical criteria for the design of fiscal rules in small economies in Latin America and the Caribbean (LAC). The fiscal positions of most LAC countries have deteriorated in the last decade. The regions average fiscal deficit rose from 1.9 percent of GDP in 2001-08 to 3.6 percent in 2009-17, pushing the average public debt stock from 40 percent of GDP in 2008 to 62 percent in 2017. Small countries in LAC have had especially larger fiscal deficits and accelerated indebtedness. Fiscal rules represent a promising policy option for smaller LAC economies. Given their greater exposure to volatility from frequent and intense natural disasters and terms of trade shocks, smaller economies can obtain larger benefits from using fiscal rules which enhance the sustainability, predictability, and credibility of fiscal policy. If well designed, these rules enable flexibility to mitigate the impact of adverse shocks. While the need for fiscal rules to ensure fiscal sustainability is well recognized, the relative advantages and drawbacks of different types of fiscal rules vary with each countrys macroeconomic characteristics. This study provides analytical criteria for selecting fiscal rules or sets of rules best suited to a countrys business cycle features, exchange rate regime, type of shocks faced, and institutional characteristics. It reviews the performance of fiscal rules worldwide and assesses which rule types are most frequently used, have the best record for compliance, and are the most effective in promoting debt sustainability and preventing procyclical fiscal policies, while also presenting the features that tend to improve their performance.
Дополнительное описание: Economics|Macroeconomics|Economic growth|Economic theory and philosophy

Fiscal Rules and Economic Size in Latin America and the Caribbean, Fernando Blanco, Frederieke Koehler, Pablo Saavedra, Emilia Skrok