The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America:
The recent boom and bust in commodity prices has raised concerns about the impact of volatile commodity prices on Latin American countries' fiscal positions. Using a novel quarterly data set-which includes unique country-specific commodity price indices and a comprehensive measure of public exp...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2010
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 10/192 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | The recent boom and bust in commodity prices has raised concerns about the impact of volatile commodity prices on Latin American countries' fiscal positions. Using a novel quarterly data set-which includes unique country-specific commodity price indices and a comprehensive measure of public expenditures-this paper analyzes the dynamic effects of commodity price fluctuations on fiscal revenues and expenditures for eight commodity-exporting Latin American countries. The results indicate that Latin American countries' fiscal positions react strongly to shocks to commodity prices, yet there are marked differences across countries. Fiscal variables in Venezuela display the highest sensitivity to commodity price shocks, with expenditures reacting significantly more than revenues. At the other end of the spectrum, in Chile expenditure reacts very little to commodity price fluctuations, and the dynamic responses of its fiscal indicators are very similar to those seen in high-income commodity-exporting countries. This distinct behavior across countries may relate to institutional arrangements, which in some cases include the efficient application of fiscal rules amid political commitment and high standards of transparency |
| Beschreibung: | 1 Online-Ressource (27 p) |
| ISBN: | 1455202266 9781455202263 |
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| index_date | 2024-07-03T20:13:27Z |
| indexdate | 2024-07-10T09:35:36Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Medina, Leandro Verfasser aut The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America Medina, Leandro Washington, D.C International Monetary Fund 2010 1 Online-Ressource (27 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 10/192 The recent boom and bust in commodity prices has raised concerns about the impact of volatile commodity prices on Latin American countries' fiscal positions. Using a novel quarterly data set-which includes unique country-specific commodity price indices and a comprehensive measure of public expenditures-this paper analyzes the dynamic effects of commodity price fluctuations on fiscal revenues and expenditures for eight commodity-exporting Latin American countries. The results indicate that Latin American countries' fiscal positions react strongly to shocks to commodity prices, yet there are marked differences across countries. Fiscal variables in Venezuela display the highest sensitivity to commodity price shocks, with expenditures reacting significantly more than revenues. At the other end of the spectrum, in Chile expenditure reacts very little to commodity price fluctuations, and the dynamic responses of its fiscal indicators are very similar to those seen in high-income commodity-exporting countries. This distinct behavior across countries may relate to institutional arrangements, which in some cases include the efficient application of fiscal rules amid political commitment and high standards of transparency Online-Ausg http://elibrary.imf.org/view/IMF001/11233-9781455202263/11233-9781455202263/11233-9781455202263.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Medina, Leandro The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title_auth | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title_exact_search | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title_exact_search_txtP | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title_full | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America Medina, Leandro |
| title_fullStr | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America Medina, Leandro |
| title_full_unstemmed | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America Medina, Leandro |
| title_short | The Dynamic Effects of Commodity Priceson Fiscal Performance in Latin America |
| title_sort | the dynamic effects of commodity priceson fiscal performance in latin america |
| url | http://elibrary.imf.org/view/IMF001/11233-9781455202263/11233-9781455202263/11233-9781455202263.xml |
| work_keys_str_mv | AT medinaleandro thedynamiceffectsofcommoditypricesonfiscalperformanceinlatinamerica |