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https://elibrary.tucl.edu.np/handle/123456789/5630| Title: | Fiscal Space and Increasing Fiscal Resilience |
| Authors: | ADB; Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; Park, Donghyun |
| Issue Date: | May-2019 |
| Description: | This paper compares fiscal cyclicality across advanced and developing economies in terms of geography and income levels between 1960 and 2016. It identifies factors that explain government spending and tax-policy cyclicality. On average, a more indebted government spends more in good times and cuts back spending indifferently compared with low-debt economies in bad times. The sovereign wealth funds of economies have a countercyclical effect in our estimation. The analysis depicts a significant economic impact of an interest rate rise on fiscal space: a 10% increase in the public debt–tax base ratio is associated with an upper bound of a 5.6% increase in government-spending procyclicality. |
| URI: | https://www.adb.org/publications/fiscal-space-fiscal-resilience https://elibrary.tucl.edu.np/handle/123456789/5630 |
| ISBN: | N/A N/A |
| ISSN: | 2313-6537 2313-6545 |
| Country: | Regional - Asia and the Pacific |
| Appears in Collections: | ADB Collections |
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