This paper presents a systematic analysis of the availability and use of fiscal space in emerging and developing economies. These economies built fiscal space in the run-up to the Great Recession of 2008-09, which was then used for stimulus. This reflects a more general trend over the past three decades, where availability of fiscal space has been associated with increasingly countercyclical (or less procyclical) fiscal policy. However, fiscal space...
انظر المزيد
تفاصيل
-
2016/6/22
-
WPS7725
-
1
-
1
-
2016/6/22
-
Disclosed
-
Challenges of fiscal policy in emerging and developing economies
-
medium term expenditure framework