Is fiscal policy procyclical in developing oil-producing countries? /

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Bibliographic Details
Author / Creator:	Erbil, Neşe, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2011.
Description:	1 online resource (33 pages)
Language:	English
Series:	IMF working paper ; WP/11/171 IMF working paper ; WP/11/171.
Subject:	Fiscal policy -- Econometric models. Business cycles -- Econometric models. Business cycles -- Econometric models. Fiscal policy -- Econometric models. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499392

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Research Department, issuing body.
ISBN:	1283565560 9781283565561 9781462383931 1462383939 1463901763 9781463901769 9786613878014 6613878014 1462382940 9781462382941
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.
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.
Other form:	Print version: Erbil, Nese. Is Fiscal Policy Procyclical in Developing Oil-Producing Countries? Washington : International Monetary Fund, ©2011 9781462314324

Table of Contents:

Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Background; III. Empirical Specification and Data; A. Empirical Specification; B. Data and Variable Descriptions; IV. Estimation Results; V. Conclusions and Policy Implications; Appendix; Table A1. Definitions and Sources of Variables; Table A2. Descriptive Statistics; Table A3. Correlation between Fiscal Variable and Other Relevant Variables; Table A4; A23 Estimation Tables; Footnotes.

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