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Fiscal Cycles in the Caribbean

The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disast...

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Bibliographic Details
Main Author: Araujo, Juliana
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Fiscal Stance
Business Cycles
Revenue Administration
Public Finance & Taxation
Natural Disasters And Their Management
Climate
Fiscal Policy
Open Economy Macroeconomics
National Government Expenditures And Related Policies: General
Expenditure
Cycles
Taxation, Subsidies, And Revenue: General
Global Warming
Economic Growth
Expenditures, Public
Macroeconomics
Business Fluctuations
Prices, Business Fluctuations, And Cycles: General (includes Measurement And Data)
Public Finance
Revenue
Dominica
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disaster cycles. Our main findings suggest that fiscal policy has been mostly procyclical in the region, while disasters have been heavily "insured" by foreign transfers. The "when it rains, it pours" phenomena suggested by Kaminsky, Reinhart and Vegh (2004) seems to take place in the Caribbean
Physical Description:27 pages
ISBN:9781451873054

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