Working Papers in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
Front-Loaded or Back-Loaded Fiscal Adjustments: What Works in Emerging Market Economies?
|
Author/Editor: |
Baldacci, Emanuele | Clements, Benedict J. | Gupta, Sanjeev | Mulas-Granados, Carlos |
| Authorized for Distribution: |
August 1, 2004 |
|
Electronic Access: |
Free Full Text (PDF file size is 344KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
|
|
Summary: This paper investigates the political and economic determinants of successful fiscal adjustment in 25 emerging market economies from 1980 to 2001. The results show that large and back-loaded fiscal adjustments have the highest likelihood of success. Fiscal consolidations based on expenditure cuts increase the probability of approaching and achieving fiscal sustainability but are insufficient to maintain it unless accompanied by revenue reforms. Adjustment episodes launched in countries where governments enjoy a parliamentary majority and do not face imminent elections, are found to be more successful. Fiscal consolidations undertaken under IMF-supported programs also have a higher probability of success.
|
|
|
|
Order a print copy
|
|
Series: |
Working Paper No. 04/157 |
|
Subject(s): |
Emerging markets | Transition economies | Fiscal policy | Economic models | Structural adjustment |
|
Author's keyword(s): |
Fiscal adjustment
| fiscal consolidations
| emerging markets
| political economy
|
|
|
|
|
| |
Published: |
|
August 1, 2004 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA1572004 |
|
Pages: |
|
24 |
| |
Price: |
|
US$15.00 (Academic Rate: US$15.00 )
|
|
|
|
|
|
|
