Experience with Large Fiscal Adjustments
Electronic Access:
Summary:
When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented? What will be its impact on the economy? This Occasional Paper addresses these questions by describing the experience of countries that have undertaken large fiscal adjustments in the last three decades. It provides operational guidance to policymakers by identifying preconditions, common policy approaches, and institutional arrangements underlying successful and unsuccessful adjustment episodes.
Series:
Occasional Paper No. 2006/003
Subject:
Expenditure Fiscal consolidation Fiscal policy Fiscal stance Public debt Revenue administration
English
Publication Date:
June 14, 2006
ISBN/ISSN:
9781589064584/0251-6365
Stock No:
S246EA
Pages:
51
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