IDEAS home Printed from https://ideas.repec.org/a/oup/oxecpp/v71y2019i1p225-249..html
   My bibliography  Save this article

Assessing activist fiscal policy in advanced and emerging market economies using real-time data

Author

Listed:
  • Tigran Poghosyan
  • Mehmet Serkan Tosun

Abstract

We examine activist fiscal policy in advanced and emerging economies using an innovative methodology. We contribute to the existing literature on fiscal policy cyclicality by conducting real-time data analysis for a broad set of countries that include 23 advanced and 30 emerging market economies. To the best of our knowledge this is the first study to extend the real-time data analysis to countries other than advanced economies. We also examine the impact of the global financial crisis. Our main findings show that discretionary fiscal policy in advanced economies is planned as countercyclical before the global financial crisis, but its implementation turned procyclical after the crisis. The emerging economies had weakly countercyclical discretionary fiscal policy plans, which enabled them to implement countercyclical fiscal policy after the global financial crisis.

Suggested Citation

  • Tigran Poghosyan & Mehmet Serkan Tosun, 2019. "Assessing activist fiscal policy in advanced and emerging market economies using real-time data," Oxford Economic Papers, Oxford University Press, vol. 71(1), pages 225-249.
    • Handle: RePEc:oup:oxecpp:v:71:y:2019:i:1:p:225-249.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/oep/gpy031
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jérôme Creel, 2021. "Establishing a Fiscal Dialogue in Europe," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(3), pages 339-355, September.
    2. Philipp Heimberger, 2022. "The Cyclical Behaviour of Fiscal Policy During the Covid-19 Crisis," wiiw Working Papers 220, The Vienna Institute for International Economic Studies, wiiw.
    3. Katja Schmidt & Antoine Sigwalt, 2022. "Fiscal policy orientation in the euro area in real-time," Working papers 896, Banque de France.
    4. Pierre Aldama & Jérôme Creel, 2020. "Asymmetric macroeconomic stabilization and fiscal consolidation in the OECD and the Euro Area," Documents de Travail de l'OFCE 2020-09, Observatoire Francais des Conjonctures Economiques (OFCE).
    5. Heimberger, Philipp, 2023. "This time truly is different: The cyclical behaviour of fiscal policy during the Covid-19 crisis," Journal of Macroeconomics, Elsevier, vol. 76(C).
    6. repec:hal:spmain:info:hdl:2441/5a3rl1um0d9rdbe3itnk6f8m89 is not listed on IDEAS
    7. Aldama, Pierre & Creel, Jérôme, 2022. "Real-time fiscal policy responses in the OECD from 1997 to 2018: Procyclical but sustainable?," European Journal of Political Economy, Elsevier, vol. 73(C).

    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:oxecpp:v:71:y:2019:i:1:p:225-249.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/oep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.