کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5094516 1478505 2014 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Was this time different?: Fiscal policy in commodity republics
ترجمه فارسی عنوان
آیا این زمان متفاوت بود؟: سیاست مالی در جمهوری های کالا؟
کلمات کلیدی
قیمت کالاها، سیاست مالی مطلوب، رفتار مالی، موسسات،
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

We revisit the issue of fiscal procyclicality in commodity-rich nations-commodity republics in the nomenclature of this paper. Since commodity prices are plausibly a main driver of fiscal policy outcomes in these countries, we focus on the behavior of fiscal variables across the commodity cycle, in contrast to behavior across the output cycle, which has been the main focus of earlier research on fiscal procyclicality. We present evidence of reduced fiscal policy procyclicality in a number of countries. Our empirical results suggest that improvements in institutional quality have led to a more countercyclical fiscal policy stance in a number of countries. The presence of fiscal rules also seems to have made a difference: countries that use them displayed a larger shift toward fiscal counter-cyclicality between the two episodes.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Development Economics - Volume 106, January 2014, Pages 92-106
نویسندگان
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