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Fiscal Rules and Economic Size in Latin America and the Caribbean (Latin American Development Forum) by Fernando Blanco; Friederike Koehler-Geib; Pablo Saavedra; Emilia Skrok is a nonfiction available to read on EtoBox.

What is Fiscal Rules and Economic Size in Latin America and the Caribbean (Latin American Development Forum) about?

Following the collapse of commodity prices in Latin America and the Caribbean (LAC) in 2014-15, many countries in the region were unable to cushion the impact of the shock in order to experience a more gradual adjustment, to a large extent because they had not built adequate fiscal buffers during the commodities' windfall from 2010-14. Many LAC countries entered 2020 and the COVID-19 crisis in an even more difficult position, with rising debt and limited fiscal space to smooth the negative impacts of the pandemic and adequately support their economies. Fiscal policy in most LAC countries has been procyclical. Public expenditure and debt levels have expanded in good times and contracted in severe downswings due to insufficient fiscal buffers, making crises deeper. Fiscal rules represent a promising policy option for these and other economies. If well-designed and implemented, they can help build buffers during periods of strong economic performance that will be available during rainy days to smooth economic shocks. This book-- which was prepared before the COVID-19 crisis-- reviews the performance and implementation of different fiscal rules in the region and world. It provides anal

Who reads Fiscal Rules and Economic Size in Latin America and the Caribbean (Latin American Development Forum)?

Author

Fernando Blanco; Friederike Koehler-Geib; Pablo Saavedra; Emilia Skrok

Publisher

World Bank Publications

Published

2020

Language

EN

ISBN

9781464815812

Category

nonfiction

Subjects

Sociology, Social Science, Social_sciences