Do fiscal responsibility laws matter? Evidence from emerging market economies suggests not
AbstractThis paper asks whether the adoption of fiscal responsibility laws (FRLs) has improved fiscal performance in nine emerging market economies, as measured by developments in their key fiscal balances. Examining these economies alone, their fiscal performance improved on average between the period before FLRs were adopted and the period after they were adopted. However, emerging market economies that did not adopt FLRs also experienced improvements in their fiscal performance around the same time. The finding suggests that the better fiscal performance in the nine emerging market economies resulted from something other than the adoption of FLRs.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Journal of Economic Policy Reform.
Volume (Year): 12 (2009)
Issue (Month): 2 ()
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Other versions of this item:
- John Thornton, 2009. "Do fiscal responsibility laws matter? Evidence from emerging market economies suggests not," Journal of Policy Reform, Taylor and Francis Journals, vol. 12(2), pages 127-132.
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- Carlos Caceres & Leandro Medina, 2012. "Measures of Fiscal Risk in Hydrocarbon-Exporting Countries," IMF Working Papers 12/260, International Monetary Fund.
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