Fiscal rules and the procyclicality of fiscal policy in the developing world:
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
2014
|
| Series: | IMF working paper
WP/14/22 |
| Subjects: | |
| Online Access: | FLA01 |
| Item Description: | "Fiscal Affairs Department"--Page 2 of pdf. - "July 2014"--Page 2 of pdf Online resource; title from pdf title page (IMF.org Web site, viewed July 15, 2014) |
| Physical Description: | 1 online resource (27 pages) color illustrations |
| ISBN: | 9781498308182 149830818X |
Staff View
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| 245 | 1 | 0 | |a Fiscal rules and the procyclicality of fiscal policy in the developing world |c Elva Bova, Nathalie Carcenac, and Martine Guerguil |
| 264 | 1 | |a [Washington, D.C.] |b International Monetary Fund |c 2014 | |
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| 505 | 8 | |a "This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either as part of the toolkit to join currency unions or to strengthen fiscal frameworks during and after large stabilization and policy reform episodes. The paper also finds that the greater use of fiscal rules has not shielded these countries from procyclicality, since fiscal policy remains procyclical following the adoption of a fiscal rule. We find partial evidence that some features of "second generation" rules, such as the use of cyclically-adjusted targets, well-defined escape clauses, together with stronger legal and enforcement arrangements, may be associated with less procyclicality"--Abstract | |
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| contents | "This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either as part of the toolkit to join currency unions or to strengthen fiscal frameworks during and after large stabilization and policy reform episodes. The paper also finds that the greater use of fiscal rules has not shielded these countries from procyclicality, since fiscal policy remains procyclical following the adoption of a fiscal rule. We find partial evidence that some features of "second generation" rules, such as the use of cyclically-adjusted targets, well-defined escape clauses, together with stronger legal and enforcement arrangements, may be associated with less procyclicality"--Abstract |
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1/52 |
| dewey-search | 332.1/52 |
| dewey-sort | 3332.1 252 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | DE-604.BV045357554 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T08:15:53Z |
| institution | BVB |
| isbn | 9781498308182 149830818X |
| language | English |
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| publishDate | 2014 |
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| publisher | International Monetary Fund |
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| spelling | Bova, Elva Verfasser aut Fiscal rules and the procyclicality of fiscal policy in the developing world Elva Bova, Nathalie Carcenac, and Martine Guerguil [Washington, D.C.] International Monetary Fund 2014 1 online resource (27 pages) color illustrations txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/14/22 "Fiscal Affairs Department"--Page 2 of pdf. - "July 2014"--Page 2 of pdf Online resource; title from pdf title page (IMF.org Web site, viewed July 15, 2014) "This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either as part of the toolkit to join currency unions or to strengthen fiscal frameworks during and after large stabilization and policy reform episodes. The paper also finds that the greater use of fiscal rules has not shielded these countries from procyclicality, since fiscal policy remains procyclical following the adoption of a fiscal rule. We find partial evidence that some features of "second generation" rules, such as the use of cyclically-adjusted targets, well-defined escape clauses, together with stronger legal and enforcement arrangements, may be associated with less procyclicality"--Abstract BUSINESS & ECONOMICS / Finance bisacsh Business cycles fast Finance, Public fast Fiscal policy fast Fiscal policy Developing countries Finance, Public Developing countries Business cycles Developing countries Carcenac, Nathalie Sonstige oth Guerguil, Martine Sonstige oth International Monetary Fund Sonstige oth |
| spellingShingle | Bova, Elva Fiscal rules and the procyclicality of fiscal policy in the developing world "This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either as part of the toolkit to join currency unions or to strengthen fiscal frameworks during and after large stabilization and policy reform episodes. The paper also finds that the greater use of fiscal rules has not shielded these countries from procyclicality, since fiscal policy remains procyclical following the adoption of a fiscal rule. We find partial evidence that some features of "second generation" rules, such as the use of cyclically-adjusted targets, well-defined escape clauses, together with stronger legal and enforcement arrangements, may be associated with less procyclicality"--Abstract BUSINESS & ECONOMICS / Finance bisacsh Business cycles fast Finance, Public fast Fiscal policy fast Fiscal policy Developing countries Finance, Public Developing countries Business cycles Developing countries |
| title | Fiscal rules and the procyclicality of fiscal policy in the developing world |
| title_auth | Fiscal rules and the procyclicality of fiscal policy in the developing world |
| title_exact_search | Fiscal rules and the procyclicality of fiscal policy in the developing world |
| title_full | Fiscal rules and the procyclicality of fiscal policy in the developing world Elva Bova, Nathalie Carcenac, and Martine Guerguil |
| title_fullStr | Fiscal rules and the procyclicality of fiscal policy in the developing world Elva Bova, Nathalie Carcenac, and Martine Guerguil |
| title_full_unstemmed | Fiscal rules and the procyclicality of fiscal policy in the developing world Elva Bova, Nathalie Carcenac, and Martine Guerguil |
| title_short | Fiscal rules and the procyclicality of fiscal policy in the developing world |
| title_sort | fiscal rules and the procyclicality of fiscal policy in the developing world |
| topic | BUSINESS & ECONOMICS / Finance bisacsh Business cycles fast Finance, Public fast Fiscal policy fast Fiscal policy Developing countries Finance, Public Developing countries Business cycles Developing countries |
| topic_facet | BUSINESS & ECONOMICS / Finance Business cycles Finance, Public Fiscal policy Fiscal policy Developing countries Finance, Public Developing countries Business cycles Developing countries |
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