Fiscal policy, stabilization, and growth : prudence or abstinence?
Author(s)
Bibliographic Information
Fiscal policy, stabilization, and growth : prudence or abstinence?
（Latin American development forum）
World Bank, c2008
Available at / 17 libraries
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
336.3-262081200900186
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Library, Institute of Developing Economies, Japan External Trade Organization図
L||336||F217310129
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Note
Includes bibliographical references and index
Description and Table of Contents
Description
Fiscal policy in Latin America has been largely designed and implemented around short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence. Until recently, very little attention had been paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Instead, attention focused almost exclusively on the levels of public debt and the fiscal deficit. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often contributed to lower growth and to amplify cyclical fluctuations.This volume is concerned with the conduct of fiscal policy in Latin America, and its consequences for macroeconomic stability and long-term growth. In particular, the book examines the extent of the procyclical and anti-investment biases embedded in the region's fiscal policies, their causes and macroeconomic consequences, as well as their possible solutions.
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