How Much Room Does Latin America and the Caribbean Have for Implementing Counter-Cyclical Fiscal Policies?

How Much Room Does Latin America and the Caribbean Have for Implementing Counter-Cyclical Fiscal Policies?

Latin America's government debt has exhibited a clear downward trend since 2003. While this has been partly due to rapidly increasing commodity prices, more sustainable fiscal policies have also been a contributing factor. In effect, in a sign...

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Bibliographic Details
Main Authors:	Calderón, Cesar, Fajnzylber, Pablo
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FUNDS ADJUSTMENT PROGRAMS ARBITRAGE BANK POLICY BARRIER BASIS POINTS BOND BOND MARKETS BORROWING COSTS BUDGETARY INSTITUTIONS BUSINESS CYCLE BUSINESS CYCLES CAPITAL FLOWS CAPITAL INFLOWS CENTRAL BANKS COMMODITY COMMODITY PRICES CREDIT CONSTRAINTS CREDIT LINE CREDIT MARKETS CREDITWORTHINESS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT SURPLUSES DEBT BURDEN DEBT LEVELS DEBT MANAGEMENT DEBT MARKETS DEBT SUSTAINABILITY DEVELOPING COUNTRIES DEVELOPMENT BANK DISCRETIONARY MEASURES DISCRETIONARY POLICY DOMESTIC MARKET ECONOMIC ACTIVITY ECONOMIC FLUCTUATIONS ECONOMIC SLOWDOWN EMERGING MARKET EMERGING MARKET ECONOMIES EXISTING DEBT EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL BORROWING EXTERNAL CAPITAL EXTERNAL FINANCING FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL POLICY FINANCING COSTS FISCAL ADJUSTMENT FISCAL ADJUSTMENTS FISCAL BALANCES FISCAL CONSOLIDATION FISCAL CONTRACTION FISCAL DISCIPLINE FISCAL EXPANSIONS FISCAL POLICIES FISCAL POLICY FISCAL RULES FISCAL STIMULUS FISCAL SUSTAINABILITY GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT REVENUES GOVERNMENT SOLVENCY INCOME INCOME TAXES INDUSTRIAL COUNTRIES INFRASTRUCTURE INVESTMENTS INSTITUTIONAL BARRIERS INSTITUTIONAL CONSTRAINTS INSTRUMENT INTEREST PAYMENTS INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MONETARY FUND INVESTMENT PROJECTS LIMITED ACCESS LIQUIDITY LIQUIDITY CONSTRAINTS LOCAL CURRENCY LONG TERM DEBT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MATURITY MONETARY POLICY OIL PRICES OUTPUT OUTPUT GAP POLICY RESPONSES PORTFOLIO PRIMARY BALANCE PRIMARY EXPENDITURE PRIMARY SPENDING PRIMARY SURPLUS PRIVATE CREDIT PUBLIC DEBT PUBLIC DEFICITS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SECTOR RESERVES SAFETY NETS SOCIAL PROTECTION SOCIAL SAFETY NETS SOCIAL SECURITY SOLVENCY SWAP TAX TAX COLLECTION TOTAL DEBT TRACK RECORD VOLATILITY
Online Access:	http://documents.worldbank.org/curated/en/2009/04/11954156/much-room-latin-america-caribbean-implementing-countercyclical-fiscal-policies-much-room-latin-america-caribbean-implementing-counter-cyclical-fiscal-policies http://hdl.handle.net/10986/10988

Internet

http://documents.worldbank.org/curated/en/2009/04/11954156/much-room-latin-america-caribbean-implementing-countercyclical-fiscal-policies-much-room-latin-america-caribbean-implementing-counter-cyclical-fiscal-policies
http://hdl.handle.net/10986/10988

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