Macroeconomic Stability in Resource Rich Countries is popular PDF and ePub book, written by Ms.Elva Bova in 2016-02-23, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Macroeconomic Stability in Resource Rich Countries can be Read Online from any device for your convenience.
Macroeconomic Stability in Resource Rich Countries Book PDF Summary
Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset covering 48 non-renewable commodity exporters for the period 1970-2014, we investigate whether fiscal policy does indeed play a stabilizing role. Our analysis shows that fiscal policy tends to have a procyclical bias (mainly via expenditures) and, contrary to others, we do not find evidence that this bias has declined in recent years. Adoption of fiscal rules does not seem to reduce procyclicality in a significant way, but the quality of political institutions does matter. Finally, non-commodity revenues tend to respond only to persistent changes in commodity prices.
Detail Book of Macroeconomic Stability in Resource Rich Countries PDF
- Author : Ms.Elva Bova
- Release : 23 February 2016
- Publisher : International Monetary Fund
- ISBN : 9781498377225
- Genre : Business & Economics
- Total Page : 28 pages
- Language : English
- PDF File Size : 13,7 Mb
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