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Fiscal Policy, Stabilization, and Growth

Fiscal Policy, Stabilization, and Growth PDF Author: Guillermo E. Perry
Publisher: World Bank Publications
ISBN: 0821370855
Category : Business & Economics
Languages : en
Pages : 354

Book Description
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.

Fiscal Policy, Stabilization, and Growth

Fiscal Policy, Stabilization, and Growth PDF Author: Guillermo E. Perry
Publisher: World Bank Publications
ISBN: 0821370855
Category : Business & Economics
Languages : en
Pages : 354

Book Description
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.

Stabilization and Growth in Latin America

Stabilization and Growth in Latin America PDF Author: Leonardo Vera
Publisher: Palgrave MacMillan
ISBN:
Category : Business & Economics
Languages : en
Pages : 280

Book Description
Latin American countries initiated since the 1980s a reorientation of economic policies in whose formulation and implementation the International Monetary Fund (IMF) and World Bank (WB) have played a key role. This book shows that the IMF/WB programs have not achieved the expected results and allows the reader to understand the shortcomings and limitations of the orthodox approach. By analyzing the macro-models that inspire policy-based lending, the author argues that the weaknesses arise as a result of a questionable internal logic of the models, mistaken premises and a failure to account for the empirical evidence. The book claims and outlines an alternative Post-Keynesian and Structuralist framework to deal with stabilization and growth issues in Latin America. The basic model is based on important asymmetries among productive sectors and takes into account the existence of oligopolistic markets, money wage rigidities, income distribution and endogenous money. It is implied in this model the need to rethink the direction and overall form of economic policy.

The Limits of Stabilization

The Limits of Stabilization PDF Author: William Easterly
Publisher: World Bank Publications
ISBN: 0821383442
Category : Business & Economics
Languages : en
Pages : 232

Book Description
Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector away from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and public deficits in the region. The book shows that in most countries private participation did not fully offset the public sector retreat. The result was a slowdown in infrastructure accumulation, which entailed a significant growth cost and weakened the intended impact of the infrastructure spending cuts on public sector insolvency.

Economic Policy and Stabilization in Latin America

Economic Policy and Stabilization in Latin America PDF Author: Nader Nazmi
Publisher: Routledge
ISBN: 1315286238
Category : Political Science
Languages : en
Pages : 217

Book Description
A detailed analysis of economic policy in Latin America with particular attention devoted to the problem of controlling inflation and stabilization. Contents include an analysis of economic policies of the 1990s; country case studies of Brazil, Chile, Mexico, Argentina, and Bolivia; a thorough review of competing paradigms; a comparison of monitarist and structuralist approaches to the problem; mathematical and statistical modeling.

The International Monetary Fund And Latin America

The International Monetary Fund And Latin America PDF Author: Manuel Pastor
Publisher: Routledge
ISBN: 1000230716
Category : Political Science
Languages : en
Pages : 228

Book Description
The debt crisis in Latin America has rekindled debate about the effects of the IMF's stabilization programs in the Third World. Critics contend that these programs have short-run recessionary impacts and damage prospects for long-term growth. In response, Fund economists point to cross-country studies revealing mixed impacts on growth rates coupled with significant success in achieving the IMF's stated goals: current account and balance-of-payments improvements and inflation rate reduction. Dr. Pastor argues that the traditional growth-oriented critique is theoretically misplaced, and he recasts Fund activities in terms of class and income distribution. Applying the methodology of previous Fund studies, he evaluates the effects of IMF programs in eighteen Latin American countries in the pre-crisis period (1965-1981).

Stabilization, reform and economic growth in Latin America

Stabilization, reform and economic growth in Latin America PDF Author: Andrés Solimano
Publisher:
ISBN:
Category :
Languages : es
Pages : 25

Book Description


Stabilization and Reforms in Latin America

Stabilization and Reforms in Latin America PDF Author: Hermann Sautter
Publisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 268

Book Description
Comprises eight papers which examine Latin America's economic reform process during the 1980s and 1990s, and considers future steps in this reform. Includes: rethinking Latin American economic policy; good governance after stabilization; capital inflows, real exchange rate and the Mexican crisis of 1994; liquidity management in Argentina; regional free trade agreements in Chile; and the social dimension of reform.

Economic Stabilization in Latin America

Economic Stabilization in Latin America PDF Author: Alejandro Foxley
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 148

Book Description


Excerpt: Latin America

Excerpt: Latin America PDF Author: Ms.Dora M Iakova
Publisher: International Monetary Fund
ISBN: 1498331084
Category : Business & Economics
Languages : en
Pages : 28

Book Description
This is an excerpt of Latin America: New Challenges to Grwoth and Stability.

Economic Growth in Latin America and the Caribbean

Economic Growth in Latin America and the Caribbean PDF Author: Norman Loayza
Publisher: World Bank Publications
ISBN: 0821360914
Category : Business & Economics
Languages : en
Pages : 169

Book Description
Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.