Fiscal Sustainability in Developing Asia
AbstractThe central objective of this paper is to empirically examine the issue of fiscal sustainability in developing Asia. To do so, we first diagnose the region’s public finances by analyzing the evolution of key fiscal indicators over time and across subregions. We then estimate fiscal policy response functions that measure the adjustment of the primary fiscal balance to public debt positions. Overall, our results indicate that the region’s public finances are in good shape as a result of responsible fiscal behavior. Nevertheless, failure to withdraw the region’s anticrisis fiscal stimulus in a timely manner may jeopardize fiscal sustainability, bolstering the case for strong medium-term fiscal policy frameworks.
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Bibliographic InfoPaper provided by Asian Development Bank in its series ADB Economics Working Paper Series with number 205.
Length: 48 pages
Date of creation: Jun 2010
Date of revision:
Fiscal sustainability; Asia; fiscal policy; fiscal balance; public debt;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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- Masahiro Kawai & Peter J. Morgan, 2013.
"Long-term Issues for Fiscal Sustainability in Emerging Asia,"
Public Policy Review,
Policy Research Institute, Ministry of Finance Japan, vol. 9(4), pages 751-770, September.
- Kawai, Masahiro & Morgan, Peter J., 2013. "Long-term Issues for Fiscal Sustainability in Emerging Asia," ADBI Working Papers 432, Asian Development Bank Institute.
- Roy, Rathin, 2014. "Room at the Top: An Overview of Fiscal Space, Fiscal Policy and Inclusive Growth in Developing Asia," Working Papers 14/135, National Institute of Public Finance and Policy.
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