1.

Record Nr.

UNINA9910464004203321

Autore

Vladkova Hollar Ivanna

Titolo

Fiscal positions in Latin America : have they really improved? / / Ivanna Vladkova-Hollar and Jeromin Zettelmeyer

Pubbl/distr/stampa

[Washington, District of Columbia] : , : International Monetary Fund, , 2008

©2008

ISBN

1-4623-6387-3

1-4519-8628-9

1-4518-6996-7

9786612840890

1-282-84089-4

Descrizione fisica

1 online resource (32 p.)

Collana

IMF Working Papers

Altri autori (Persone)

ZettelmeyerJeromin

Disciplina

336.02

Soggetti

Revenue - Latin America

Business cycles - Latin America

Fiscal policy - Latin America

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Contents; I. Introduction; Tables; 1. Latin America: Fiscal Developments; II. Methodology; A. Noncommodity Structural Revenue; B. Commodity Structural Revenue; C. Structural Balances; III. Results; A. Parameter Estimates and Statistical Tests; 2. Long-Run Income Elasticity of Central Government Tax Revenues; B. Structural Noncommodity Revenues; Figures; 1. Actual and Structural Noncommodity Revenues; C. Structural Commodity Revenues; D. Structural Primary Balances; 2. Actual and Structural Commodity Revenues; 3. Actual and Estimated Structural Primary Balances; IV. Conclusion; References

Appendices1. Revenue Data and Changes in Tax Structure; 2. Output Gap Estimates; Appendix Tables; A1. LAC Countries: Filter-Based Output Gap Estimates for 2007; 3. Commodity Price Indices and Projections; A2. Commodity Export Shares; A3. Commodity Price Indices and Medium Term Projections



Sommario/riassunto

Fiscal performance in Latin America looks much improved this decade compared to the 1980's or 1990's. Is this a ""structural"" improvement or likely to be transitory? This paper answers this question by estimating the relationship between non-commodity revenue and the economic cycle, and evaluating commodity revenues using alternative medium term commodity price projections. The main result is that structural revenues have indeed improved as a share of GDP, and structural primary balances are currently in surplus in many Latin American countries. However, the magnitude of these improvements