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Financing the Budget Deficit in the Philippines

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Author Info
Remolona, Eli H.
Abstract

For the last 25 years, the government has been incurring heavy budgetary deficits. Yet, data on recent Philippine experience reveal that no well-established guidelines on how to finance a budget deficit have been formulated. This paper investigates the means and measures to finance a deficit, considers a theory that chooses an optimal mix of policy instruments and studies the experience of less developed country like the Philippines as a case in point.

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File URL: http://dirp4.pids.gov.ph/ris/wp/pidswp8502.pdf
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Publisher Info
Paper provided by Philippine Institute for Development Studies in its series Working Papers with number WP 1985-02.

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Length: 53
Date of creation: 1985
Date of revision:
Handle: RePEc:phd:wpaper:wp_1985-02

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Related research
Keywords: fiscal deficit; fiscal policy; fiscal sector;

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References listed on IDEAS
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.:
  1. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January. [Downloadable!] (restricted)
  2. Calvo, Guillermo A, 1978. "On the Time Consistency of Optimal Policy in a Monetary Economy," Econometrica, Econometric Society, vol. 46(6), pages 1411-28, November. [Downloadable!] (restricted)
  3. Diamond, Peter A & Mirrlees, James A, 1971. "Optimal Taxation and Public Production: I--Production Efficiency," American Economic Review, American Economic Association, vol. 61(1), pages 8-27, March. [Downloadable!] (restricted)
  4. Lucas, Robert Jr. & Stokey, Nancy L., 1983. "Optimal fiscal and monetary policy in an economy without capital," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 55-93. [Downloadable!] (restricted)
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  5. Friedman, Milton, 1970. "A Theoretical Framework for Monetary Analysis," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 193-238, March-Apr. [Downloadable!] (restricted)
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  6. Fama, Eugene F., 1980. "Banking in the theory of finance," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 39-57, January. [Downloadable!] (restricted)
  7. Auernheimer, Leonardo, 1974. "The Honest Government's Guide to the Revenue from the Creation of Money," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 598-606, May/June. [Downloadable!] (restricted)
  8. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June. [Downloadable!] (restricted)
  9. Sargent, Thomas J. & Wallace, Neil, 1976. "Rational expectations and the theory of economic policy," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 169-183, April. [Downloadable!] (restricted)
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  10. Tobin, James, 1972. "Friedman's Theoretical Framework," Journal of Political Economy, University of Chicago Press, vol. 80(5), pages 852-63, Sept.-Oct. [Downloadable!] (restricted)
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