Fiscal Policy, Stabilization, and Growth : Prudence or Abstinence
This volume covers the conduct of fiscal policy in Latin America, and its consequences for macroeconomic stability and long-term growth. The volume's chapters examine different aspects of these problems, ranging from the purely economic to the...
| Main Authors: | , , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2007/01/8703483/fiscal-policy-stabilization-growth-prudence-or-abstinence http://hdl.handle.net/10986/6818 |
| Summary: | This volume covers the conduct of fiscal
policy in Latin America, and its consequences for
macroeconomic stability and long-term growth. The
volume's chapters examine different aspects of these
problems, ranging from the purely economic to the
institutional and political economy dimensions. The book is
organized as follows. This chapter offers an integrated
overview of the themes covered in the rest of the volume.
The chapter guides the reader through the rest of the
volume, but it has been written as a self-standing essay for
the benefit of those readers who may not have the time to
indulge in the details of every chapter. The rest of the
volume is organized in two parts. The first part deals with
the pro-cyclical bias of fiscal policy, and the second part
with the anti-investment bias of fiscal discipline --
popularly (albeit somewhat confusingly) known as the fiscal
space problem. The rest of this introductory chapter
consists of four sections. Section II examines recent trends
in fiscal policy in the region and introduces the two main
themes of the book. Sections III and IV present an overview
of the topics covered in the two parts of the book, as well
as the conclusions of the corresponding chapters. Section V
summarizes the implications for future fiscal analysis and
policy management. |
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