| Title : | Fiscal policy, stabilization, and growth : prudence or abstinence? | | Material Type: | printed text | | Authors: | Guillermo E. Perry, Editor ; Luis Serven, Editor ; Rodrigo Suescun, Editor | | Publisher: | Washington D.C. : The World Bank | | Publication Date: | 2008 | | Pagination: | xx, 329 p. | | Layout: | ill. | | Size: | 23 cm | | ISBN (or other code): | 978-0-8213-7084-1 | | General note: | Includes bibliographical references and index | | Languages : | English (eng) Original Language : English (eng) | | Descriptors: | Finance and Financial Sector Development
Macroeconomics and Economic Growth
| | Class number: | 336 | | Abstract: | Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. 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 amplified cyclical volatility and dampened growth. Fiscal Policy, Stabilization, and Growth explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions. | | Contents note: | Overview: fiscal policy, economic fluctuations and growth; Procyclical fiscal policy and volatility; Fiscal discipline, volatility and growth; The size and effectiveness of fiscal automatic stabilizers in Latin America; Fiscal federalism and procyclical spending: the cases of Argentina and Brazil; Fiscal rules and procyclicality; Fiscal policy and growth -- Fiscal discipline, public investment and growth; Incentives for public investment under fiscal rules; Improving the SGP through a proper accounting of public investment; Accrual accounting, long-term fiscal projections, and public investment; Growth and fiscal effects of infrastructure investment in Brazil | | Record link: | https://library.seeu.edu.mk/index.php?lvl=notice_display&id=13340 |
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