Buch(elektronisch)2007

International Evidence on Fiscal Solvency

In: IMF Working Papers

Mendoza, Enrique G.; Ostry, Jonathan David

init.form.title.accessOptions

Verfügbarkeit an Ihrem Standort wird überprüft

Dieses Buch ist auch in Ihrer Bibliothek verfügbar:

Abstract

This paper looks at fiscal solvency and public debt sustainability in both emerging market and advanced countries. Evidence of fiscal solvency, in the form of a robust positive conditional relationship between public debt and the primary fiscal balance, is established in both groups of countries. Evidence of fiscal solvency is much weaker, however, at high debt levels. These findings suggest that many industrial and emerging market economies, including several where fiscal solvency has been the subject of recent debates, appear to conduct fiscal policy responsibly. Yet our results cannot rejec