Rules-Based Fiscal Policy in Emerging Markets

Background, Analysis and Prospects

G. Kopits (Herausgeber)

Online Resource

XIII, 286 Seiten

2004
Palgrave Macmillan UK (Hersteller)
978-1-137-00157-3 (ISBN)

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Inspired by the experience of some advanced economies, a number of emerging market economies have recently adopted rules limiting the budget deficit, expenditure level, or indebtedness of the public sector, while others consider them for eventual adoption. This volume brings together policy analysts to discuss the rationale, suitability, and usefulness of fiscal policy rules in emerging market economies. Grouped under three main parts (political economy and macroeconomic setting; design issues at the national level; design issues at the subnational level), the chapters have a practical orientation, based on conceptual grounding.

Overview of Fiscal Policy Rules in Emerging Markets; G.Kopits PART I: POLITICAL ECONOMY AND MACROECONOMIC SETTING Fiscal Rules from a Political Economy Perspective; A.Drazen Good Debt Ratios, Bad Credit Ratings: The Role of Debt Structure; R.Hausmann Can Fiscal Rules Help Reduce Macroeconomic Volatility?; G.Perry Fiscal Policy and High Capital Mobility; G.Kopits Fiscal Institutions Versus Political Will; A.Schick PART II: DESIGN ISSUES AT THE NATIONAL LEVEL EMU Fiscal Rules: What Can and Cannot Be Exported; M.Buti & G.Giudice Fiscal Rules and Debt Sustainability in Brazil; I.Goldfajn & E.R.Guardia Fiscal Rules in Mexico: Evolution and Prospects; A.Conesa , M.J.Schwartz , A.Somuano & J.A.Tijerina Fiscal Rules on the Road to an Enlarged European Union; F.Coricelli & V.Ercolani Fiscal Rules for Economies with Nonrenewable Resources: Norway and Venezuela; O.Bjerkholt & I.Niculescu PART III: DESIGN ISSUES AT THE SUBNATIONAL LEVEL Subnational Fiscal Rules: A Game Theoretic Approach; M.Braun & M.Tommasi Rules-Based Adjustment in a Highly Decentralized Context: The Case of India; K.Kochhar & C.Purfield Fiscal Rules for Subnational Governments: Lessons from the EMU; F.Balassone, D.Franco & S.Zotteri Rules for Stabilizing Intergovernmental Transfers in Latin America; C.Y.Gonzalez, D.Rosenblat t & S.B.Webb

Erscheint lt. Verlag	21.9.2004
Reihe/Serie	Procyclicality of Financial Systems in Asia
Zusatzinfo	XIII, 286 p.
Verlagsort	London
Sprache	englisch
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	Banking • Fiscal Policy • Macroeconomics • Rating
ISBN-10	1-137-00157-7 / 1137001577
ISBN-13	978-1-137-00157-3 / 9781137001573
Zustand	Neuware