Riding The Storm Fiscal Sustainability In The Caribbean PDF Download
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| Author | : Mr.Serhan Cevik |
| Publisher | : International Monetary Fund |
| Total Pages | : 19 |
| Release | : 2020-01-31 |
| Genre | : Business & Economics |
| ISBN | : 1513526367 |
Download Riding the Storm: Fiscal Sustainability in the Caribbean Book in PDF, ePub and Kindle
Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980–2018. The results indicate that the coefficient on lagged government debt is positive and statistically significant, implying that fiscal policy in the Caribbean takes corrective actions to counteract an increase in the debt-to-GDP ratio. Nonlinear estimations, however, show that the quadratic debt parameter is negative, which indicates that fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance tends to be countercyclical on average during the sample period. These empirical results confirm that maintaining prudent fiscal policies and implementing growth-enhancing structural reforms are necessary to build fiscal buffers and ensure debt sustainability with high probability even when negative shocks occur over the long term.
| Author | : Phebby Kufa |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 2003-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451857896 |
Download Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union Book in PDF, ePub and Kindle
The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio that can be sustained based on a country's projected steady-state primary balance, interest rate on public debt, and economic growth rate. In this context, government deficits and debt in several ECCU member countries appear unsustainable, posing a risk to the stability of the currency union. A critical issue facing member countries is to implement fiscal policies consistent with sustainable public finances and debt to underpin the currency union.
| Author | : Phebby Kufa |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union Book in PDF, ePub and Kindle
The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio that can be sustained based on a country's projected steady-state primary balance, interest rate on public debt, and economic growth rate. In this context, government deficits and debt in several ECCU member countries appear unsustainable, posing a risk to the stability of the currency union. A critical issue facing member countries is to implement fiscal policies consistent with sustainable public finances and debt to underpin the currency union.
| Author | : Charles Amo Yartey |
| Publisher | : International Monetary Fund |
| Total Pages | : 1 |
| Release | : 2014-05-06 |
| Genre | : Business & Economics |
| ISBN | : 1484369149 |
Download Caribbean Renewal Book in PDF, ePub and Kindle
Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.
| Author | : Jeetendra Khadan |
| Publisher | : |
| Total Pages | : |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
Download Fiscal Sustainability in the Caribbean Book in PDF, ePub and Kindle
Many countries in the Caribbean have been grappling with persistent fiscal imbalances and rising debt levels. The average debt to GDP ratio in the Caribbean in 2017 was 76.6 percent, higher than the negative debt-growth threshold of 60 percent of GDP. Also, the average fiscal deficit as a percent of GDP was 2.8 percent, but with significant heterogeneity across countries ranging from 0.5 percent to 11 percent. Using the inter-temporal budget constraint framework and various panel data econometric estimators, this article examines the issue of fiscal sustainability for a group of 10 Caribbean countries over the period 1991-2017. The evidence from panel co-integration models of government revenue and expenditure shows that past fiscal behavior is "weakly" sustainable. The "weak sustainability" finding is reinforced by evidence from an extended fiscal reaction function which showed that the primary balance improves by about 0.02 for every 1 percentage point increase in the debt ratio.
| Author | : Mr.Serhan Cevik |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2019-11-08 |
| Genre | : Business & Economics |
| ISBN | : 1513519867 |
Download Back to the Future: Fiscal Rules for Regaining Sustainability Book in PDF, ePub and Kindle
This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.
| Author | : Mr. Zamid Aligishiev |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2022-03-23 |
| Genre | : Business & Economics |
| ISBN | : |
Download Macro-Fiscal Implications of Adaptation to Climate Change Book in PDF, ePub and Kindle
Adaptation to climate change is an integral part of sustainable development and a necessity for advanced and developing economies alike. How can adaptation be planned for and mainstreamed into fiscal policy? Setting up inclusive coordination mechanisms and strengthening legal foundations to incorporate climate change can be a prerequisite. This Note identifies four building blocks: 1. Taking stock of present and future climate risks, identifying knowledge and capacity gaps, and establishing guidance for next steps. 2. Developing adaptation solutions. This block can be guided by extending the IMF three-pillar disaster resilience strategy to address changes in both extreme and average weather and would cover the prevention of risks, the alleviation of residual risks, and macro-fiscal resilience. 3. Mainstreaming these solutions into government operations. This requires strengthening public financial management institutions by factoring climate risks and adaptation plans into budgets and macro-frameworks, and in the management of public investment, assets and liabilities. 4. Providing for transparent evaluations to inform future plans. This involves continually monitoring progress and regularly updating adaptation plans.
| Author | : |
| Publisher | : BoD – Books on Demand |
| Total Pages | : 222 |
| Release | : 2023-12-20 |
| Genre | : Business & Economics |
| ISBN | : 0850145228 |
Download Business and Management Annual Volume 2023 Book in PDF, ePub and Kindle
Dive into a compelling exploration of contemporary business and management paradigms with the Annual Volume 2023. This edition offers a mosaic of perspectives on organizational commitment, innovation’s role in competitive advantage, fiscal sustainability in dynamic economies, and the strategic implications of taxation and digital transformation. Delve into nuanced analyses covering diverse sectors, from agribusiness to rail technology, illuminating the intricate relationships between learning, innovation, and strategic agility. Uncover the evolving landscapes of energy, taxation, and economic policies, steering discussions on workforce management, rural tourism, and game theory’s application to business strategy. Engaging and thought-provoking, this volume presents diverse lenses into the dynamic intersections of business, economics, and strategic management.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 44 |
| Release | : 2022-09-16 |
| Genre | : Business & Economics |
| ISBN | : |
Download Thailand Book in PDF, ePub and Kindle
Selected Issues
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 274 |
| Release | : 2021-12-02 |
| Genre | : |
| ISBN | : 9264682317 |
Download Latin American Economic Outlook 2021 Working Together for a Better Recovery Book in PDF, ePub and Kindle
The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‐making process.
