Long-term Issues for Fiscal Sustainability in Emerging Asia
AbstractThe aftermath of the global financial crisis of 2007â08 underlined the importance of maintaining fiscal space and fiscal sustainability. Even though many Asian economies implemented fiscal stimulus policies during the crisis period, their fiscal conditions generally improved rapidly thereafter, and their overall government debt positions, aside from that of Japan, appear strong. Nonetheless, there are a number of reasons to believe that conditions in emerging Asian economies will not always be so supportive. The first objective of this paper is to identify long-term issues of fiscal sustainability risk for emerging Asian economies. The second objective is to recommend policies to reduce these risks to sustainability.
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Bibliographic InfoArticle provided by Policy Research Institute, Ministry of Finance Japan in its journal Public Policy Review.
Volume (Year): 9 (2013)
Issue (Month): 4 (September)
fiscal space; fiscal sustainability; emerging Asian economies; global financial crisis; fiscal stimulus policies; government debt; demographics; social welfare spending;
Other versions of this item:
- Kawai, Masahiro & Morgan, Peter J., 2013. "Long-term Issues for Fiscal Sustainability in Emerging Asia," ADBI Working Papers 432, Asian Development Bank Institute.
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Adams, Charles & Ferrarini, Benno & Park, Donghyun, 2010. "Fiscal Sustainability in Developing Asia," ADB Economics Working Paper Series 205, Asian Development Bank.
- Nina Budina & Tidiane Kinda & Andrea Schaechter & Anke Weber, 2012. "Fiscal Rules at a Glance," IMF Working Papers 12/273, International Monetary Fund.
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