Is Fiscal Policy the Answer? A Developing Country Perspective Moreno-Dodson, Blanca
dc.contributor.editor Moreno-Dodson, Blanca 2013-04-08T16:46:40Z 2013-04-08T16:46:40Z 2013
dc.description.abstract Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses. en
dc.identifier.isbn 978-0-8213-9630-8
dc.identifier.other 10.1596/978-0-8213-9630-6
dc.language.iso en_US
dc.publisher Washington, DC: World Bank
dc.relation.ispartofseries Directions in Development--Public Sector Governance;
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.subject accounting
dc.subject Accounting Standards
dc.subject accrual accounting
dc.subject aggregate demand
dc.subject asset management
dc.subject autoregression
dc.subject balance sheet
dc.subject Benchmarking
dc.subject budget constraint
dc.subject Budgeting
dc.subject burden of taxation
dc.subject capacity constraints
dc.subject capita income
dc.subject capital market
dc.subject capital markets
dc.subject capital stock
dc.subject capital stocks
dc.subject cash transfers
dc.subject central bank
dc.subject central government debt
dc.subject Checks
dc.subject collective action
dc.subject commodity prices
dc.subject comparative advantage
dc.subject consumption expenditure
dc.subject Credibility
dc.subject credit market
dc.subject current account deficits
dc.subject debt burdens
dc.subject debt ratios
dc.subject debt relief
dc.subject debts
dc.subject Developing countries
dc.subject Developing Country
dc.subject development assistance
dc.subject Development Bank
dc.subject Development Economics
dc.subject development policy
dc.subject development projects
dc.subject development strategies
dc.subject Development Strategy
dc.subject Discretionary Policy
dc.subject domestic credit
dc.subject domestic credit expansion
dc.subject domestic financial markets
dc.subject Economic development
dc.subject economic growth
dc.subject Economic Outlook
dc.subject economic performance
dc.subject economic policies
dc.subject Economic Research
dc.subject Economics Research
dc.subject Emerging Markets
dc.subject equity issues
dc.subject exchange rate
dc.subject Expenditure
dc.subject Expenditures
dc.subject external debt
dc.subject externalities
dc.subject finances
dc.subject Financial crises
dc.subject Financial Crisis
dc.subject financial management
dc.subject financial sector
dc.subject fiscal adjustment
dc.subject fiscal changes
dc.subject fiscal decentralization
dc.subject fiscal deficit
dc.subject fiscal deficits
dc.subject Fiscal Measures
dc.subject Fiscal Policies
dc.subject Fiscal Policy
dc.subject fiscal reform
dc.subject fiscal rules
dc.subject Fiscal Stance
dc.subject fiscal stimulus
dc.subject Fiscal Sustainability
dc.subject flexible exchange rate
dc.subject flexible exchange rates
dc.subject forecasts
dc.subject foreign borrowing
dc.subject foreign exchange
dc.subject foreign exchange reserve
dc.subject full employment
dc.subject Future Research
dc.subject GDP
dc.subject Global Economy
dc.subject government budget
dc.subject government budgets
dc.subject Government Debt
dc.subject government expenditure
dc.subject government finance
dc.subject government finance statistics
dc.subject Government Investment
dc.subject government policies
dc.subject government revenue
dc.subject government revenues
dc.subject government spending
dc.subject gross domestic product
dc.subject growth models
dc.subject growth rate
dc.subject growth rates
dc.subject growth theory
dc.subject holding
dc.subject human capital
dc.subject human development
dc.subject human resource
dc.subject income inequality
dc.subject inflation
dc.subject inflationary pressure
dc.subject information system
dc.subject information systems
dc.subject Infrastructure Investments
dc.subject institutional capacity
dc.subject instrument
dc.subject insurance
dc.subject insurance markets
dc.subject insurance policies
dc.subject interest rate
dc.subject interest rates
dc.subject International Bank
dc.subject International Development
dc.subject international economics
dc.subject international interest
dc.subject International Monetary Fund
dc.subject international reserves
dc.subject international trade
dc.subject intrinsic value
dc.subject Investing
dc.subject Investment Climate
dc.subject investment projects
dc.subject liquidity
dc.subject living standard
dc.subject living standards
dc.subject local governments
dc.subject macroeconomic context
dc.subject macroeconomic environment
dc.subject macroeconomic instability
dc.subject macroeconomic policy
dc.subject macroeconomic shocks
dc.subject macroeconomic stability
dc.subject macroeconomic stabilization
dc.subject macroeconomics
dc.subject market economy
dc.subject market environment
dc.subject market failures
dc.subject microdata
dc.subject missing markets
dc.subject monetary policy
dc.subject Multipliers
dc.subject National Income
dc.subject National Investment
dc.subject National Treasury
dc.subject natural capital
dc.subject natural resources
dc.subject negative shock
dc.subject open economies
dc.subject open economy
dc.subject per capita income
dc.subject policy credibility
dc.subject policy response
dc.subject Policy Responses
dc.subject Political Economy
dc.subject potential output
dc.subject private capital
dc.subject private investment
dc.subject private sector credit
dc.subject productivity
dc.subject productivity growth
dc.subject public asset
dc.subject public assets
dc.subject Public borrowing
dc.subject public capital
dc.subject public capital spending
dc.subject public debt
dc.subject Public Economics
dc.subject Public Expenditure
dc.subject public finance
dc.subject public finances
dc.subject public goods
dc.subject Public Investment
dc.subject public investment spending
dc.subject Public Investments
dc.subject Public Sector
dc.subject Public Spending
dc.subject real GDP
dc.subject Redistributive Effects
dc.subject Reinvestment
dc.subject rent seeking
dc.subject return
dc.subject returns
dc.subject risk averse
dc.subject risk management
dc.subject Safety Nets
dc.subject savings rates
dc.subject social relations
dc.subject Social Welfare
dc.subject solvency
dc.subject sovereign debt
dc.subject Stabilization Policy
dc.subject Tax
dc.subject tax policies
dc.subject Tax Policy
dc.subject total factor productivity
dc.subject Transparency
dc.subject treasuries
dc.subject Treasury
dc.subject trough
dc.subject unemployment
dc.subject value judgments
dc.subject wage differentials
dc.subject Wealth
dc.title Is Fiscal Policy the Answer? A Developing Country Perspective en
dspace.entity.type Publication 2012-11-07
okr.doctype Publications & Research :: Publication
okr.doctype Publications & Research
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.identifier.doi 10.1596/978-0-8213-9630-8 73515
okr.language.supported en
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Finance and Financial Sector Development :: Public & Municipal Finance
okr.topic Macroeconomics and Economic Growth :: Economic Stabilization
okr.topic Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic Public Sector Development
okr.unit Int'l Trade & Investment-WB (CICTI)
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