The Challenge of Fiscal Adjustment in a Democracy: The Case of India
India''s fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2004
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Schriftenreihe: | IMF Working Papers
Working Paper No. 04/168 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | India''s fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of fiscal laxity and complicated the building of a consensus on reform. The new fiscal responsibility act establishes a new rules-based system to overcome this coordination failure. To strengthen the framework, we recommend an autonomous scorekeeper and the extension of similar rules to the state governments as part of a comprehensive reform of the federal system |
Beschreibung: | 1 Online-Ressource (30 p) |
ISBN: | 1451858299 9781451858297 |
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spelling | Hausmann, Ricardo Verfasser aut The Challenge of Fiscal Adjustment in a Democracy The Case of India Hausmann, Ricardo Washington, D.C International Monetary Fund 2004 1 Online-Ressource (30 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 04/168 India''s fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of fiscal laxity and complicated the building of a consensus on reform. The new fiscal responsibility act establishes a new rules-based system to overcome this coordination failure. To strengthen the framework, we recommend an autonomous scorekeeper and the extension of similar rules to the state governments as part of a comprehensive reform of the federal system Online-Ausg Purfield, Catriona Sonstige oth http://elibrary.imf.org/view/IMF001/06834-9781451858297/06834-9781451858297/06834-9781451858297.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Hausmann, Ricardo The Challenge of Fiscal Adjustment in a Democracy The Case of India |
title | The Challenge of Fiscal Adjustment in a Democracy The Case of India |
title_auth | The Challenge of Fiscal Adjustment in a Democracy The Case of India |
title_exact_search | The Challenge of Fiscal Adjustment in a Democracy The Case of India |
title_exact_search_txtP | The Challenge of Fiscal Adjustment in a Democracy The Case of India |
title_full | The Challenge of Fiscal Adjustment in a Democracy The Case of India Hausmann, Ricardo |
title_fullStr | The Challenge of Fiscal Adjustment in a Democracy The Case of India Hausmann, Ricardo |
title_full_unstemmed | The Challenge of Fiscal Adjustment in a Democracy The Case of India Hausmann, Ricardo |
title_short | The Challenge of Fiscal Adjustment in a Democracy |
title_sort | the challenge of fiscal adjustment in a democracy the case of india |
title_sub | The Case of India |
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