Long-term Issues for Fiscal Sustainability in Emerging Asia
AbstractThe aftermath of the global financial crisis of 2007–08 underlined the importance of maintaining fiscal space and fiscal sustainability. Even though many Asian economies implemented fiscal stimulus policies during the crisis period, their fiscal conditions generally improved rapidly thereafter, and their overall government debt positions, aside from that of Japan, appear strong. Nonetheless, there are a number of reasons to believe that conditions in emerging Asian economies will not always be so supportive. The first objective of this paper is to identify long-term issues of fiscal sustainability risk for emerging Asian economies. The second objective is to recommend policies to reduce these risks to sustainability.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 432.
Length: 21 pages
Date of creation: 20 Aug 2013
Date of revision:
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fiscal space; fiscal sustainability; emerging asia; emerging asian economies; global financial crisis; fiscal stimulus policies; government debt;
Other versions of this item:
- 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.
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
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- Nina Budina & Tidiane Kinda & Andrea Schaechter & Anke Weber, 2012. "Fiscal Rules at a Glance," IMF Working Papers 12/273, International Monetary Fund.
- Adams, Charles & Ferrarini, Benno & Park, Donghyun, 2010. "Fiscal Sustainability in Developing Asia," ADB Economics Working Paper Series 205, Asian Development Bank.
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