Fiscal Space and Increasing Fiscal Resilience

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dc.contributor.authorADB; Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; Park, Donghyun
dc.date.accessioned2021-10-05T15:04:48Z
dc.date.available2021-10-05T15:04:48Z
dc.date.issued2019-05
dc.descriptionThis 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.
dc.format.extent40
dc.identifier.isbnN/A
dc.identifier.isbnN/A
dc.identifier.issn2313-6537
dc.identifier.issn2313-6545
dc.identifier.urihttps://www.adb.org/publications/fiscal-space-fiscal-resilience
dc.identifier.urihttps://hdl.handle.net/20.500.14540/5630
dc.subject.otherEconomics
dc.subject.otherPublic expenditure
dc.subject.otherPublic financial management
dc.subject.otherPublic revenue
dc.subject.otherPublic sector governance
dc.titleFiscal Space and Increasing Fiscal Resilience
local.publication.countryRegional - Asia and the Pacific
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