Avoiding Fiscal Crisis
AbstractFiscal activities in the form of contingent liabilities are common in both developed and developing countries, in part because they allow governments to secure public services or economic and financial stability without immediately having to raise taxes or borrow. Yet they pose a fiscal danger as governments may underestimate or under-report their risks and possible future fiscal costs. Although they may not appear in governmentsâ€™ fiscal reports in the short term, they generate government risk exposures and create fiscal obligations for the medium to long term. The accumulation of such risk exposures and obligations depends on fiscal institutions. Fiscal institutions influence government decisions towards contingent liabilities and fiscal risk, and can contribute to limiting the use and design of contingent liabilities as a form of fiscal activity.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE in its journal World Economics Journal.
Volume (Year): 13 (2012)
Issue (Month): 1 (January)
Contact details of provider:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ed Jones).
If references are entirely missing, you can add them using this form.