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Post-Crisis Fiscal Policy Priorities for the ASEAN-5

Author/Editor: Budina, Nina T | Tuladhar, Anita
Authorized for Distribution: November 1, 2010
Electronic Access: Free Full Text (PDF file size is 1,169KB)
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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 focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. Sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the ASEAN-5. As growth rebounds, these economies are beginning to identify, communicate and implement their strategies for unwinding the fiscal stimulus while addressing long-term growth challenges. In this context, the paper highlights the need for fiscal policies to address infrastructure gaps, stimulate private consumption and expand social safety nets. Creating fiscal space to address these challenges will require raising revenues and reorienting public spending rather than increasing borrowing. Supporting structural reforms, aiming to stimulate private infrastructure investment, could help address long-term growth challenges, while easing the burden on fiscal policy.
 
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Series: Working Paper No. 10/252
Subject(s): Association of Southeast Asian Nations | Cross country analysis | Economic growth | Economic recovery | Fiscal policy | Indonesia | Infrastructure | Malaysia | Philippines | Private consumption | Public investment | Singapore | Social safety nets | Thailand
Author's keyword(s): Fiscal policy | fiscal reforms | revenue measures | government expenditures | infrastructure
 
English  
    Published:   November 1, 2010        
            Format:   Paper
    Stock No:   WPIEA2010252   Pages:   27
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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