Post-Crisis Fiscal Policy Priorities for the ASEAN-5

 
Author/Editor: Budina, Nina T ; Tuladhar, Anita
 
Publication Date: November 01, 2010
 
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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.
 
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
Publication Date: November 01, 2010
Format: Paper
Stock No: WPIEA2010252 Pages: 27
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
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