Publication: The Global Dimension to Fiscal Sustainability
| dc.contributor.author | Byrne, Joseph P. | |
| dc.contributor.author | Fiess, Norbert | |
| dc.contributor.author | MacDonald, Ronald | |
| dc.date.accessioned | 2012-03-30T07:33:03Z | |
| dc.date.available | 2012-03-30T07:33:03Z | |
| dc.date.issued | 2011 | |
| dc.description.abstract | This paper provides a new perspective of fiscal sustainability and financial globalization in emerging and industrial countries. We highlight the importance of global capital market shocks for fiscal sustainability, a relationship which has hitherto been ignored in the empirical literature. Using a factor model we demonstrate that the relationship between deficit and debt is conditional upon a global factor and we suggest that this global factor is related to world-wide liquidity. We also demonstrate that this acts as a constraint on emerging market economies' fiscal policy. | en |
| dc.identifier.citation | Journal of Macroeconomics | |
| dc.identifier.issn | 01640704 | |
| dc.identifier.uri | https://hdl.handle.net/10986/5483 | |
| dc.language.iso | EN | |
| dc.relation.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/igo | |
| dc.rights.holder | World Bank | |
| dc.subject | Fiscal Policy E620 | |
| dc.subject | National Deficit | |
| dc.subject | Surplus H620 | |
| dc.subject | National Debt | |
| dc.subject | Debt Management | |
| dc.subject | Sovereign Debt H630 | |
| dc.title | The Global Dimension to Fiscal Sustainability | en |
| dc.title.alternative | Journal of Macroeconomics | en |
| dc.type | Journal Article | en |
| dc.type | Article de journal | fr |
| dc.type | ArtÃculo de revista | es |
| dspace.entity.type | Publication | |
| okr.doctype | Journal Article | |
| okr.externalcontent | External Content | |
| okr.identifier.externaldocumentum | 340 | |
| okr.journal.nbpages | 137-150 | |
| okr.language.supported | en | |
| okr.peerreview | Academic Peer Review | |
| okr.relation.associatedurl | http://dx.doi.org/10.1016/j.jmacro.2011.01.002 | |
| okr.relation.associatedurl | http://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1239893&site=ehost-live | |
| okr.relation.associatedurl | http://www.elsevier.com/wps/find/journaldescription.cws_home/622617/description#description | |
| okr.volume | 33 |