Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1283565560
9781283565561
9781462383931
1462383939
1463901763
9781463901769
9786613878014
6613878014
1462382940
9781462382941
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| Notes: | At head of title: Research Department.
Title from PDF title page (IMF Web site, viewed September 7, 2011).
"July 2011."
Includes bibliographical references.
English.
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| Summary: | This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary balance - and correcting for reverse causality between non-oil output and fiscal variables, the results suggest that all of the five fiscal variables are strongly procyclical in the full sample. Also, the results are not uniform across income groups: expenditure is procyclical in the low and middle-income countries, while it is countercyclical in the high-income countries. Fiscal policy tends to be affected by the external financing constraints in the middle- and high-income groups. However, the quality of institutions and political structure appear to be more significant for the low-income group.
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| Other form: | Print version: Erbil, Nese. Is Fiscal Policy Procyclical in Developing Oil-Producing Countries? Washington : International Monetary Fund, ©2011 9781462314324
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