Experience with Budgetary Convergence in the WAEMU:
This paper reviews the experience of fiscal adjustment undertaken in the West African Economic and Monetary Union (WAEMU) countries since the entry into force of the 1994 treaty establishing the framework for a regional convergence of national fiscal policies. We propose a measure of the structural...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2002
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 02/108 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper reviews the experience of fiscal adjustment undertaken in the West African Economic and Monetary Union (WAEMU) countries since the entry into force of the 1994 treaty establishing the framework for a regional convergence of national fiscal policies. We propose a measure of the structural deficit that corrects for movements of both the business cycle and terms of trade. Though the fiscal deficit worsened in 1998-2001 in some countries because of terms of trade deterioration and unfavorable movements in the business cycle, convergence stalled even when corrected for these factors. Meeting fiscal deficit targets in the future will be facilitated by a favorable external environment but, in any case, will require a higher revenue ratio and downward pressure on government wages as shares of GDP |
| Beschreibung: | 1 Online-Ressource (28 p) |
| ISBN: | 1451853114 9781451853117 |
Internformat
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:22Z |
| indexdate | 2024-07-10T09:35:30Z |
| institution | BVB |
| isbn | 1451853114 9781451853117 |
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| publisher | International Monetary Fund |
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| spelling | Masson, Paul R. Verfasser aut Experience with Budgetary Convergence in the WAEMU Masson, Paul R Washington, D.C International Monetary Fund 2002 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 02/108 This paper reviews the experience of fiscal adjustment undertaken in the West African Economic and Monetary Union (WAEMU) countries since the entry into force of the 1994 treaty establishing the framework for a regional convergence of national fiscal policies. We propose a measure of the structural deficit that corrects for movements of both the business cycle and terms of trade. Though the fiscal deficit worsened in 1998-2001 in some countries because of terms of trade deterioration and unfavorable movements in the business cycle, convergence stalled even when corrected for these factors. Meeting fiscal deficit targets in the future will be facilitated by a favorable external environment but, in any case, will require a higher revenue ratio and downward pressure on government wages as shares of GDP Online-Ausg Dore, Ousmane Sonstige oth http://elibrary.imf.org/view/IMF001/02224-9781451853117/02224-9781451853117/02224-9781451853117.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Masson, Paul R. Experience with Budgetary Convergence in the WAEMU |
| title | Experience with Budgetary Convergence in the WAEMU |
| title_auth | Experience with Budgetary Convergence in the WAEMU |
| title_exact_search | Experience with Budgetary Convergence in the WAEMU |
| title_exact_search_txtP | Experience with Budgetary Convergence in the WAEMU |
| title_full | Experience with Budgetary Convergence in the WAEMU Masson, Paul R |
| title_fullStr | Experience with Budgetary Convergence in the WAEMU Masson, Paul R |
| title_full_unstemmed | Experience with Budgetary Convergence in the WAEMU Masson, Paul R |
| title_short | Experience with Budgetary Convergence in the WAEMU |
| title_sort | experience with budgetary convergence in the waemu |
| url | http://elibrary.imf.org/view/IMF001/02224-9781451853117/02224-9781451853117/02224-9781451853117.xml |
| work_keys_str_mv | AT massonpaulr experiencewithbudgetaryconvergenceinthewaemu AT doreousmane experiencewithbudgetaryconvergenceinthewaemu |