Publication:
Is Fiscal Policy the Answer? A Developing Country Perspective

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dc.contributor.authorMoreno-Dodson, Blanca
dc.contributor.editorMoreno-Dodson, Blanca
dc.date.accessioned2013-04-08T16:46:40Z
dc.date.available2013-04-08T16:46:40Z
dc.date.issued2013
dc.description.abstractFiscal 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.doi10.1596/978-0-8213-9630-8
dc.identifier.isbn978-0-8213-9630-8
dc.identifier.other10.1596/978-0-8213-9630-6
dc.identifier.urihttps://hdl.handle.net/10986/13086
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesDirections in Development--Public Sector Governance;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectaccounting
dc.subjectAccounting Standards
dc.subjectaccrual accounting
dc.subjectaggregate demand
dc.subjectasset management
dc.subjectautoregression
dc.subjectbalance sheet
dc.subjectBenchmarking
dc.subjectbudget constraint
dc.subjectBudgeting
dc.subjectburden of taxation
dc.subjectcapacity constraints
dc.subjectcapita income
dc.subjectcapital market
dc.subjectcapital markets
dc.subjectcapital stock
dc.subjectcapital stocks
dc.subjectcash transfers
dc.subjectcentral bank
dc.subjectcentral government debt
dc.subjectChecks
dc.subjectcollective action
dc.subjectcommodity prices
dc.subjectcomparative advantage
dc.subjectconsumption expenditure
dc.subjectCredibility
dc.subjectcredit market
dc.subjectcurrent account deficits
dc.subjectdebt burdens
dc.subjectdebt ratios
dc.subjectdebt relief
dc.subjectdebts
dc.subjectDeveloping countries
dc.subjectDeveloping Country
dc.subjectdevelopment assistance
dc.subjectDevelopment Bank
dc.subjectDevelopment Economics
dc.subjectdevelopment policy
dc.subjectdevelopment projects
dc.subjectdevelopment strategies
dc.subjectDevelopment Strategy
dc.subjectDiscretionary Policy
dc.subjectdomestic credit
dc.subjectdomestic credit expansion
dc.subjectdomestic financial markets
dc.subjectEconomic development
dc.subjecteconomic growth
dc.subjectEconomic Outlook
dc.subjecteconomic performance
dc.subjecteconomic policies
dc.subjectEconomic Research
dc.subjectEconomics Research
dc.subjectEmerging Markets
dc.subjectequity issues
dc.subjectexchange rate
dc.subjectExpenditure
dc.subjectExpenditures
dc.subjectexternal debt
dc.subjectexternalities
dc.subjectfinances
dc.subjectFinancial crises
dc.subjectFinancial Crisis
dc.subjectfinancial management
dc.subjectfinancial sector
dc.subjectfiscal adjustment
dc.subjectfiscal changes
dc.subjectfiscal decentralization
dc.subjectfiscal deficit
dc.subjectfiscal deficits
dc.subjectFiscal Measures
dc.subjectFiscal Policies
dc.subjectFiscal Policy
dc.subjectfiscal reform
dc.subjectfiscal rules
dc.subjectFiscal Stance
dc.subjectfiscal stimulus
dc.subjectFiscal Sustainability
dc.subjectflexible exchange rate
dc.subjectflexible exchange rates
dc.subjectforecasts
dc.subjectforeign borrowing
dc.subjectforeign exchange
dc.subjectforeign exchange reserve
dc.subjectfull employment
dc.subjectFuture Research
dc.subjectGDP
dc.subjectGlobal Economy
dc.subjectgovernment budget
dc.subjectgovernment budgets
dc.subjectGovernment Debt
dc.subjectgovernment expenditure
dc.subjectgovernment finance
dc.subjectgovernment finance statistics
dc.subjectGovernment Investment
dc.subjectgovernment policies
dc.subjectgovernment revenue
dc.subjectgovernment revenues
dc.subjectgovernment spending
dc.subjectgross domestic product
dc.subjectgrowth models
dc.subjectgrowth rate
dc.subjectgrowth rates
dc.subjectgrowth theory
dc.subjectholding
dc.subjecthuman capital
dc.subjecthuman development
dc.subjecthuman resource
dc.subjectincome inequality
dc.subjectinflation
dc.subjectinflationary pressure
dc.subjectinformation system
dc.subjectinformation systems
dc.subjectInfrastructure Investments
dc.subjectinstitutional capacity
dc.subjectinstrument
dc.subjectinsurance
dc.subjectinsurance markets
dc.subjectinsurance policies
dc.subjectinterest rate
dc.subjectinterest rates
dc.subjectInternational Bank
dc.subjectInternational Development
dc.subjectinternational economics
dc.subjectinternational interest
dc.subjectInternational Monetary Fund
dc.subjectinternational reserves
dc.subjectinternational trade
dc.subjectintrinsic value
dc.subjectInvesting
dc.subjectInvestment Climate
dc.subjectinvestment projects
dc.subjectliquidity
dc.subjectliving standard
dc.subjectliving standards
dc.subjectlocal governments
dc.subjectmacroeconomic context
dc.subjectmacroeconomic environment
dc.subjectmacroeconomic instability
dc.subjectmacroeconomic policy
dc.subjectmacroeconomic shocks
dc.subjectmacroeconomic stability
dc.subjectmacroeconomic stabilization
dc.subjectmacroeconomics
dc.subjectmarket economy
dc.subjectmarket environment
dc.subjectmarket failures
dc.subjectmicrodata
dc.subjectmissing markets
dc.subjectmonetary policy
dc.subjectMultipliers
dc.subjectNational Income
dc.subjectNational Investment
dc.subjectNational Treasury
dc.subjectnatural capital
dc.subjectnatural resources
dc.subjectnegative shock
dc.subjectopen economies
dc.subjectopen economy
dc.subjectper capita income
dc.subjectpolicy credibility
dc.subjectpolicy response
dc.subjectPolicy Responses
dc.subjectPolitical Economy
dc.subjectpotential output
dc.subjectprivate capital
dc.subjectprivate investment
dc.subjectprivate sector credit
dc.subjectproductivity
dc.subjectproductivity growth
dc.subjectpublic asset
dc.subjectpublic assets
dc.subjectPublic borrowing
dc.subjectpublic capital
dc.subjectpublic capital spending
dc.subjectpublic debt
dc.subjectPublic Economics
dc.subjectPublic Expenditure
dc.subjectpublic finance
dc.subjectpublic finances
dc.subjectpublic goods
dc.subjectPublic Investment
dc.subjectpublic investment spending
dc.subjectPublic Investments
dc.subjectPublic Sector
dc.subjectPublic Spending
dc.subjectreal GDP
dc.subjectRedistributive Effects
dc.subjectReinvestment
dc.subjectrent seeking
dc.subjectreturn
dc.subjectreturns
dc.subjectrisk averse
dc.subjectrisk management
dc.subjectSafety Nets
dc.subjectsavings rates
dc.subjectsocial relations
dc.subjectSocial Welfare
dc.subjectsolvency
dc.subjectsovereign debt
dc.subjectStabilization Policy
dc.subjectTax
dc.subjecttax policies
dc.subjectTax Policy
dc.subjecttotal factor productivity
dc.subjectTransparency
dc.subjecttreasuries
dc.subjectTreasury
dc.subjecttrough
dc.subjectunemployment
dc.subjectvalue judgments
dc.subjectwage differentials
dc.subjectWealth
dc.titleIs Fiscal Policy the Answer? A Developing Country Perspectiveen
dspace.entity.typePublication
okr.crossref.titleIs Fiscal Policy the Answer?
okr.date.disclosure2012-11-07
okr.date.doiregistration2025-04-15T10:51:06.478974Z
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid805741468161355064
okr.identifier.doi10.1596/978-0-8213-9630-8
okr.identifier.report73515
okr.language.supporteden
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Public & Municipal Finance
okr.topicMacroeconomics and Economic Growth::Economic Stabilization
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicPublic Sector Development
okr.unitInt'l Trade & Investment-WB (CICTI)
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