Serial

Leaning Against the Wind : Fiscal Policy in Latin America and the Caribbean in a Historical Perspective

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collection.link.137
https://openknowledge.worldbank.org/handle/10986/6002
collection.link.215
https://openknowledge.worldbank.org/handle/10986/11883
collection.name.137
Spanish PDFs Available
collection.name.215
LAC Semiannual Report
dc.contributor.author
Vegh, Carlos
dc.contributor.author
Lederman, Daniel
dc.contributor.author
Bennett, Federico R.
dc.date.accessioned
2017-04-13T19:03:29Z
dc.date.available
2017-04-13T19:03:29Z
dc.date.issued
2017-04
dc.description.abstract
This report by the Office of the Chief Economist for Latin America and the Caribbean (LAC) of the World Bank studies the region’s fiscal policies. After reviewing LAC’s growth performance, Chapter 1 provides an accounting of its financing needs during the 21st Century to understand how such a diverse region ended up with fiscal deficits across the board in 2016. Chapter 2 goes back to the 1960s and assesses the cyclical properties of fiscal policies. LAC, like most developing countries and in contrast with most developed economies, exhibited procyclical fiscal policies. Good news arrived in the 2000s: one in three economies became countercyclical, which helped improve credit ratings. Yet fiscal policy is complicated by our inability to know if current economic conditions are temporary or permanent. The report argues for a prudent stance that would err on the side of saving too much during upswings and perhaps borrowing too little during downturns.
en
dc.identifier.isbn
978-1-4648-1094-7
dc.identifier.uri
http://hdl.handle.net/10986/26364
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
LAC Semiannual Report;April 2017
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
GROWTH
dc.subject
HOUSEHOLD INCOME INEQUALITY
dc.subject
LABOR FORCE PARTICIPATION
dc.subject
LABOR INCOME INEQUALITY
dc.subject
LATIN AMERICA
dc.subject
SLOWDOWN
dc.subject
ELASTICITY
dc.subject
INEQUALITY
dc.subject
TERMS OF TRADE
dc.subject
UNEMPLOYMENT
dc.subject
GOVERNMENT FINANCING NEEDS
dc.subject
BUSINESS CYCLES
dc.subject
COUNTERCYCLICALITY
dc.subject
PROCYCLICALITY
dc.subject
COUNTERCYCLICAL POLICY
dc.subject
FISCAL POLICY
dc.subject
VOLATILITY
dc.title
Leaning Against the Wind
en
dc.title.subtitle
Fiscal Policy in Latin America and the Caribbean in a Historical Perspective
dc.type
Serial
okr.date.disclosure
2017-04-18
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Publication
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-1094-7
okr.identifier.internaldocumentum
211094
okr.imported
true
okr.language.supported
en
okr.region.administrative
Latin America & Caribbean
okr.region.geographical
Caribbean
okr.region.geographical
Latin America
okr.topic
Finance and Financial Sector Development :: Currencies and Exchange Rates
okr.topic
Finance and Financial Sector Development :: Financial Crisis Management & Restructuring
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.unit
LCRCE

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