Budget Institutions and Fiscal Performance in Low-Income Countries / Sophia Gollwitzer, Eteri Kvintradze, Tej Prakash, Luis-Felipe Zanna, Era Dabla-Norris, Richard Allen, Irene Yackovlev, Victor Lledo.

Format:

Book

Government document

Author/Creator:

Gollwitzer, Sophia.

Contributor:

Allen, Richard.

Dabla-Norris, Era.

Kvintradze, Eteri.

Prakash, Tej.

Yackovlev, Irene.

Zanna, Luis-Felipe.

International Monetary Fund. Strategy, Policy, and Review Dept.

International Monetary Fund. Fiscal Affairs Dept.

Series:

IMF Working Papers; Working Paper ; No. 2010/080

IMF Working Papers

Language:

English

Subjects (All):

Budget process--Developing countries--Econometric models.

Budget process.

Budget process--Developing countries.

Business cycles--Developing countries--Econometric models.

Business cycles.

Business cycles--Developing countries.

Fiscal policy--Developing countries--Econometric models.

Fiscal policy.

Fiscal policy--Developing countries.

Physical Description:

1 online resource (91 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2010.

Summary:

This paper presents, for the first time, multi-dimensional indices of the quality of budget institutions in low-income countries. The indices allow for benchmarking against the performance of middle-income countries, across regions, and according to different institutional arrangements that deliver good fiscal performance. Using the constructed indices, the paper provides preliminary empirical support for the hypotheses that strong budget institutions help improve fiscal balances and public external debt outcomes; and countries with stronger fiscal institutions have better scope to conduct countercyclical policies.

Contents:

Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Literature Survey; Figure 1. Budget process; A. Budget Institutions and Fiscal Discipline; B. Budget Institutions and Procyclicality; III. Budget Institutions in Low-Income Countries; IV. Index of budget Institutions; Table 1. Country Coverage; A. Components of the Index; B. Index Construction; Table 2. Summary of Statistics for Budget Institutions Dimensions and Indices; Table 3a. Spearman Rank Correlations among Budget Stages; Table 3b. Spearman Rank Correlations among Categories

Table 4. Pair-wise Correlations with other IndicatorsC. Descriptive Statistics; Table 5. Budget Institutions Index, by Country Groups and Stages; Table 6. Budget Institutions Index, by Country Groups and Categories; Figure 2. Budget Institutions, Country Characteristics, and Debt Vulnerabilities in LICs and MICs; V. Budget Institutions and Fiscal Discipline; Table 7. Budget Institutions, Primary Balance, and External Debt; Table 8. Disaggregated Budget Institutions and Fiscal Performance; Table 9. Budget Institutions and Fiscal Discipline: Robustness Checks

Table 10. Robustness Checks: Role of Economy-wide InstitutionsVI. Budget Institutions and Fiscal cyclicality; Table 11. Budget Institutions, Fiscal Accommodation, and the Global Crisis, 2008-09; Table 12. Budget Institutions, Impact on Procyclicality; Table 13. Budget Institutions, Income and Debt, Combined Impact on Procyclicality; VII. Conclusions; Appendix I. Data Sources Used; Appendix II. Dimensions, Scoring Methodology, and Sources of Data; Appendix III. Sensitivity Analysis; Table A1. Spearman Rank Correlations between the Overall Indices

Table A2. Spearman Rank Correlations between the Sub-IndicesAppendix IV. Definition and Sources of Variables; References; Footnotes

Notes:

"March 2010."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612845673

9781462365838

1462365833

9781452718767

1452718768

9781282845671

1282845675

9781451982237

1451982232

OCLC:

867926847