Fiscal adjustment and contingent government liabilities: case studies of the Czech Republic and Macedonia

Governments' contingent liabilities increase fiscal vulnerability, but are omitted in traditional measures of the current deficit. In the Czech Republic this omission may mean that fiscal adjustment has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay for past...

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1. Verfasser: Poláčkova Brixi, Hana (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, DC ; s.l. Office of the Senior Vice President and Chief Economist, Development Economics 1999
Schriftenreihe:Policy research working paper 2177
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Online-Zugang:URL des Erstveröffentlichers
Zusammenfassung:Governments' contingent liabilities increase fiscal vulnerability, but are omitted in traditional measures of the current deficit. In the Czech Republic this omission may mean that fiscal adjustment has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay for past guarantees. The stock of existing contingent liabilities in Macedonia could add 2 to 4 percent of GDP to that country's future deficits
Beschreibung:"September 1999"--Cover. - Includes bibliographical references (p. 29-30)
Erscheinungsjahr in Vorlageform:[1999]
Beschreibung:1 Online-Ressource (41 Seiten) Illustrationen 28 cm