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Record Nr. |
UNINA9910960078003321 |
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Autore |
Araujo Juliana |
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Titolo |
Fiscal Cycles in the Caribbean / / Juliana Araujo |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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9786612843716 |
9781462384020 |
1462384021 |
9781452712734 |
1452712735 |
9781451873054 |
1451873050 |
9781282843714 |
1282843710 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (29 p.) |
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Collana |
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Disciplina |
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Soggetti |
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Fiscal policy |
Debt |
Business cycles |
Business Fluctuations |
Climate |
Cycles |
Economic growth |
Expenditure |
Expenditures, Public |
Fiscal Policy |
Fiscal stance |
Global Warming |
Macroeconomics |
National Government Expenditures and Related Policies: General |
Natural Disasters and Their Management |
Open Economy Macroeconomics |
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) |
Public finance & taxation |
Public Finance |
Revenue administration |
Revenue |
Taxation, Subsidies, and Revenue: General |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; Figures; 1. Public Sector Debt in Selected Emerging Market Countries, end-2008; II. Business Cycles; A. Descriptive Statistics; Tables; 1. Composition of Fiscal Accounts; B. Fiscal Policy; 2. Expected Correlation of Fiscal Variables and the Business Cycle; 3. Cyclicality of Fiscal Revenue by Type; 4. Correlation of Cyclical Component of Real Government Revenue and Real GDP; 5. Cyclicality of Fiscal Expenditure by Type; 2. Cyclical Component of Real GDP and Real Government Expenditure |
6. Correlation of Cyclical Component of Real Primary Government Expenditure and Real GDP7. Cyclicality of Fiscal Balance; C. Financial Flows; 8. Correlation of Cyclical Component of Real Fiscal Balance and Real GDP; 9. Amplitude of Financial Flows; 10. Correlation of Cyclical Component of Real Capital Flows and Real GDP; 3. Cyclical Component of Real GDP and FDI-HP Filter; III. Disaster Cycles; IV. Election Cycles; 11. Transfer Flows in the Aftermath of a Disaster; 4. Election Cycles and Primary Balance; 5. Election Cycles and Primary Expenditure; V. Conclusion; Appendix Table; Election Dates |
References |
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Sommario/riassunto |
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The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disaster cycles. Our main findings suggest that fiscal policy has been mostly procyclical in the region, while disasters have been heavily "insured" by foreign transfers. The "when it rains, it pours" phenomena suggested by Kaminsky, Reinhart and Vegh (2004) seems to take place in the Caribbean. |
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