Can They Do It All? :: Fiscal Space in Low-Income Countries /
According to U.N. estimates, low-income countries will have to increase their annual public spending by up to 30 percent of GDP to achieve the Sustainable Development Goals (SDGs), raising the question of whether they can do it all. This paper develops a new metric of fiscal space in low-income coun...
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| Main Authors: | , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Series: | IMF working paper ;
WP/17/110. |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | According to U.N. estimates, low-income countries will have to increase their annual public spending by up to 30 percent of GDP to achieve the Sustainable Development Goals (SDGs), raising the question of whether they can do it all. This paper develops a new metric of fiscal space in low-income countries that accounts for macroeconomic uncertainty, allowing us to assess whether those spending needs can be accommodated. Illustrative simulations based on this methodology imply that, even under benign conditions, the fiscal space available in lowincome countries is likely insufficient to undertake the spending needed to achieve the SDGs. Improving public investment efficiency and domestic revenue mobilization can somewhat narrow the gap but it will require major efforts relative to recent trends. |
| Physical Description: | 1 online resource (41 pages) |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9781475599220 1475599226 |
| ISSN: | 1018-5941 ; |
Staff View
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| 245 | 1 | 0 | |a Can They Do It All? : |b Fiscal Space in Low-Income Countries / |c by Anja Baum, Andrew Hodge, Aiko Mineshima, Marialuz Moreno Badia, and René Tapsoba. |
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| 505 | 0 | |a Cover; Contents; I. Introduction; II. Stylized Facts; III. Methodology; IV. Fiscal Behavior; V. Results; Baseline and Macroeconomic Uncertainty; Fiscal Behavior; Financing Mix and the Real Exchange Rate; Policy Scenarios; VI. Conclusions; References; Boxes; 1. Materialization of Contingent Liabilities in LICs: Some Examples; Figures; 1. Incremental Estimated Annual Investment Needs; 2. LICs: Decomposition of Government Debt Evolution; 3. Interest Growth Differentials; 4. LICs: Change in Real Exchange Rate; 5. LICs: Financing Mix of Sample Countries; 6. LICs: Real Interest Rate Differentials. | |
| 505 | 8 | |a 7. Volatilities of Macroeconomic Variables8. Largest Annual Changes on Tax Revenue; 9. LIC: Real GDP Growth; 10. Financial Depth, 2015; 11. Main Sources of Contingent Liabilities in Low-income Countries; 12. Materialization of Contingent Liabilities: Some Examples; 13. Illustration of Fiscal Space; 14. LICs: Fiscal Space; 15. LICs: Alternative Assumptions on Fiscal Behavior; 16. LICs: Fiscal Space under Different Fiscal Behavior; 17. LICs: Fiscal Space under Different Assumptions on Financing Mix and the Real Exchange Rate; 18. Fiscal Space, Interest Rate Differentials, and the Exchange Rate. | |
| 505 | 8 | |a 19. Increase of Fiscal Space under Scaling-Up of Public Investment20. Increase of Fiscal Space under DRM; A2.1. LICs: Residual Stock-Flow Adjustments; A3.1. Student's T-Distribution PDF; A3.2. Bolivia: Shocks to the Growth Rate; Tables; 1. Estimation Results for Fiscal Reaction Function; A4.1. Estimation Result for the Fiscal Reaction Function: Further Specifications; Appendices; I. Data; II. Stock Flow Adjustments and Contingent Liabilities; III. The Stochastic Simulation Model; IV. Fiscal Reaction Function: Econometric Issues and Robustness. | |
| 520 | 3 | |a According to U.N. estimates, low-income countries will have to increase their annual public spending by up to 30 percent of GDP to achieve the Sustainable Development Goals (SDGs), raising the question of whether they can do it all. This paper develops a new metric of fiscal space in low-income countries that accounts for macroeconomic uncertainty, allowing us to assess whether those spending needs can be accommodated. Illustrative simulations based on this methodology imply that, even under benign conditions, the fiscal space available in lowincome countries is likely insufficient to undertake the spending needed to achieve the SDGs. Improving public investment efficiency and domestic revenue mobilization can somewhat narrow the gap but it will require major efforts relative to recent trends. | |
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| author | Baum, Anja Hodge, Andrew Mineshima, Aiko |
| author_GND | http://id.loc.gov/authorities/names/no2010174136 |
| author_facet | Baum, Anja Hodge, Andrew Mineshima, Aiko |
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| contents | Cover; Contents; I. Introduction; II. Stylized Facts; III. Methodology; IV. Fiscal Behavior; V. Results; Baseline and Macroeconomic Uncertainty; Fiscal Behavior; Financing Mix and the Real Exchange Rate; Policy Scenarios; VI. Conclusions; References; Boxes; 1. Materialization of Contingent Liabilities in LICs: Some Examples; Figures; 1. Incremental Estimated Annual Investment Needs; 2. LICs: Decomposition of Government Debt Evolution; 3. Interest Growth Differentials; 4. LICs: Change in Real Exchange Rate; 5. LICs: Financing Mix of Sample Countries; 6. LICs: Real Interest Rate Differentials. 7. Volatilities of Macroeconomic Variables8. Largest Annual Changes on Tax Revenue; 9. LIC: Real GDP Growth; 10. Financial Depth, 2015; 11. Main Sources of Contingent Liabilities in Low-income Countries; 12. Materialization of Contingent Liabilities: Some Examples; 13. Illustration of Fiscal Space; 14. LICs: Fiscal Space; 15. LICs: Alternative Assumptions on Fiscal Behavior; 16. LICs: Fiscal Space under Different Fiscal Behavior; 17. LICs: Fiscal Space under Different Assumptions on Financing Mix and the Real Exchange Rate; 18. Fiscal Space, Interest Rate Differentials, and the Exchange Rate. 19. Increase of Fiscal Space under Scaling-Up of Public Investment20. Increase of Fiscal Space under DRM; A2.1. LICs: Residual Stock-Flow Adjustments; A3.1. Student's T-Distribution PDF; A3.2. Bolivia: Shocks to the Growth Rate; Tables; 1. Estimation Results for Fiscal Reaction Function; A4.1. Estimation Result for the Fiscal Reaction Function: Further Specifications; Appendices; I. Data; II. Stock Flow Adjustments and Contingent Liabilities; III. The Stochastic Simulation Model; IV. Fiscal Reaction Function: Econometric Issues and Robustness. |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:28:00Z |
| institution | BVB |
| isbn | 9781475599220 1475599226 |
| issn | 1018-5941 ; |
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| series | IMF working paper ; |
| series2 | IMF Working Paper, |
| spelling | Baum, Anja, author. http://id.loc.gov/authorities/names/no2010174136 Can They Do It All? : Fiscal Space in Low-Income Countries / by Anja Baum, Andrew Hodge, Aiko Mineshima, Marialuz Moreno Badia, and René Tapsoba. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (41 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier data file IMF Working Paper, 1018-5941 ; WP/17/110 Includes bibliographical references and index. Print version record. Cover; Contents; I. Introduction; II. Stylized Facts; III. Methodology; IV. Fiscal Behavior; V. Results; Baseline and Macroeconomic Uncertainty; Fiscal Behavior; Financing Mix and the Real Exchange Rate; Policy Scenarios; VI. Conclusions; References; Boxes; 1. Materialization of Contingent Liabilities in LICs: Some Examples; Figures; 1. Incremental Estimated Annual Investment Needs; 2. LICs: Decomposition of Government Debt Evolution; 3. Interest Growth Differentials; 4. LICs: Change in Real Exchange Rate; 5. LICs: Financing Mix of Sample Countries; 6. LICs: Real Interest Rate Differentials. 7. Volatilities of Macroeconomic Variables8. Largest Annual Changes on Tax Revenue; 9. LIC: Real GDP Growth; 10. Financial Depth, 2015; 11. Main Sources of Contingent Liabilities in Low-income Countries; 12. Materialization of Contingent Liabilities: Some Examples; 13. Illustration of Fiscal Space; 14. LICs: Fiscal Space; 15. LICs: Alternative Assumptions on Fiscal Behavior; 16. LICs: Fiscal Space under Different Fiscal Behavior; 17. LICs: Fiscal Space under Different Assumptions on Financing Mix and the Real Exchange Rate; 18. Fiscal Space, Interest Rate Differentials, and the Exchange Rate. 19. Increase of Fiscal Space under Scaling-Up of Public Investment20. Increase of Fiscal Space under DRM; A2.1. LICs: Residual Stock-Flow Adjustments; A3.1. Student's T-Distribution PDF; A3.2. Bolivia: Shocks to the Growth Rate; Tables; 1. Estimation Results for Fiscal Reaction Function; A4.1. Estimation Result for the Fiscal Reaction Function: Further Specifications; Appendices; I. Data; II. Stock Flow Adjustments and Contingent Liabilities; III. The Stochastic Simulation Model; IV. Fiscal Reaction Function: Econometric Issues and Robustness. According to U.N. estimates, low-income countries will have to increase their annual public spending by up to 30 percent of GDP to achieve the Sustainable Development Goals (SDGs), raising the question of whether they can do it all. This paper develops a new metric of fiscal space in low-income countries that accounts for macroeconomic uncertainty, allowing us to assess whether those spending needs can be accommodated. Illustrative simulations based on this methodology imply that, even under benign conditions, the fiscal space available in lowincome countries is likely insufficient to undertake the spending needed to achieve the SDGs. Improving public investment efficiency and domestic revenue mobilization can somewhat narrow the gap but it will require major efforts relative to recent trends. Developing countries Economic conditions. http://id.loc.gov/authorities/subjects/sh85037344 Fiscal policy Developing countries. BUSINESS & ECONOMICS Economics General. bisacsh BUSINESS & ECONOMICS Reference. bisacsh Economic history fast Fiscal policy fast Developing countries fast Hodge, Andrew, author. Mineshima, Aiko, author. has work: Can They Do It All? (Text) https://id.oclc.org/worldcat/entity/E39PCFPWGQYBQkpqb4JqRgMQMP https://id.oclc.org/worldcat/ontology/hasWork Print version: Baum, Anja. Can They Do It All? Fiscal Space in Low-Income Countries. Washington, D.C. : International Monetary Fund, ©2017 9781475599046 IMF working paper ; WP/17/110. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Baum, Anja Hodge, Andrew Mineshima, Aiko Can They Do It All? : Fiscal Space in Low-Income Countries / IMF working paper ; Cover; Contents; I. Introduction; II. Stylized Facts; III. Methodology; IV. Fiscal Behavior; V. Results; Baseline and Macroeconomic Uncertainty; Fiscal Behavior; Financing Mix and the Real Exchange Rate; Policy Scenarios; VI. Conclusions; References; Boxes; 1. Materialization of Contingent Liabilities in LICs: Some Examples; Figures; 1. Incremental Estimated Annual Investment Needs; 2. LICs: Decomposition of Government Debt Evolution; 3. Interest Growth Differentials; 4. LICs: Change in Real Exchange Rate; 5. LICs: Financing Mix of Sample Countries; 6. LICs: Real Interest Rate Differentials. 7. Volatilities of Macroeconomic Variables8. Largest Annual Changes on Tax Revenue; 9. LIC: Real GDP Growth; 10. Financial Depth, 2015; 11. Main Sources of Contingent Liabilities in Low-income Countries; 12. Materialization of Contingent Liabilities: Some Examples; 13. Illustration of Fiscal Space; 14. LICs: Fiscal Space; 15. LICs: Alternative Assumptions on Fiscal Behavior; 16. LICs: Fiscal Space under Different Fiscal Behavior; 17. LICs: Fiscal Space under Different Assumptions on Financing Mix and the Real Exchange Rate; 18. Fiscal Space, Interest Rate Differentials, and the Exchange Rate. 19. Increase of Fiscal Space under Scaling-Up of Public Investment20. Increase of Fiscal Space under DRM; A2.1. LICs: Residual Stock-Flow Adjustments; A3.1. Student's T-Distribution PDF; A3.2. Bolivia: Shocks to the Growth Rate; Tables; 1. Estimation Results for Fiscal Reaction Function; A4.1. Estimation Result for the Fiscal Reaction Function: Further Specifications; Appendices; I. Data; II. Stock Flow Adjustments and Contingent Liabilities; III. The Stochastic Simulation Model; IV. Fiscal Reaction Function: Econometric Issues and Robustness. Fiscal policy Developing countries. BUSINESS & ECONOMICS Economics General. bisacsh BUSINESS & ECONOMICS Reference. bisacsh Economic history fast Fiscal policy fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85037344 |
| title | Can They Do It All? : Fiscal Space in Low-Income Countries / |
| title_auth | Can They Do It All? : Fiscal Space in Low-Income Countries / |
| title_exact_search | Can They Do It All? : Fiscal Space in Low-Income Countries / |
| title_full | Can They Do It All? : Fiscal Space in Low-Income Countries / by Anja Baum, Andrew Hodge, Aiko Mineshima, Marialuz Moreno Badia, and René Tapsoba. |
| title_fullStr | Can They Do It All? : Fiscal Space in Low-Income Countries / by Anja Baum, Andrew Hodge, Aiko Mineshima, Marialuz Moreno Badia, and René Tapsoba. |
| title_full_unstemmed | Can They Do It All? : Fiscal Space in Low-Income Countries / by Anja Baum, Andrew Hodge, Aiko Mineshima, Marialuz Moreno Badia, and René Tapsoba. |
| title_short | Can They Do It All? : |
| title_sort | can they do it all fiscal space in low income countries |
| title_sub | Fiscal Space in Low-Income Countries / |
| topic | Fiscal policy Developing countries. BUSINESS & ECONOMICS Economics General. bisacsh BUSINESS & ECONOMICS Reference. bisacsh Economic history fast Fiscal policy fast |
| topic_facet | Developing countries Economic conditions. Fiscal policy Developing countries. BUSINESS & ECONOMICS Economics General. BUSINESS & ECONOMICS Reference. Economic history Fiscal policy Developing countries |
| work_keys_str_mv | AT baumanja cantheydoitallfiscalspaceinlowincomecountries AT hodgeandrew cantheydoitallfiscalspaceinlowincomecountries AT mineshimaaiko cantheydoitallfiscalspaceinlowincomecountries |