LEADER 02165cam a22003735i 4500001    99131234542306421
005    20190905162010.0
006    m        d
007    cr cn|||||||||
008    020129s2019    dcu     o    i00  0 eng^^
024 7  10.1596/32180 |2doi
035    (CKB)4920000001211150
035    (The World Bank)32180
035    (US-djbf)32180
035    (EXLCZ)994920000001211150
040    DJBF |beng |cDJBF |erda
100 1  Richaud, Christine.
245 10 Fiscal Vulnerabilities in Commodity Exporting Countries and the Role of Fiscal Policy / |cChristine Richaud.
264  1 Washington, D.C. : |bThe World Bank, |c2019.
336    text |btxt |2rdacontent
337    computer |bc |2rdamedia
338    online resource |bcr |2rdacarrier
347    data file |2rda
490 1  Other papers
520 3  The paper updates the analysis of the fiscal policy response over the recent commodity cycle, contributes to the analysis of key drivers of fiscal policy procyclicality, and provides a stock-tacking of current fiscal vulnerabilities. Countercyclical fiscal policy during good times has been a key factor affecting the ability of commodity exporters to sustainably support economic activity when prices started declining. Fiscal space to withstand the next shock has narrowed in many emerging and developing economies (EMDEs) and may also be constrained by contingent liabilities stemming from exposure of state-owned enterprises and public and systemic banks to the commodity-sector. Fiscal consolidation is still necessary in many commodity-exporting EMDEs to reduce debt risks, rebuild fiscal and external buffers, and facilitate access to affordable financing. Fiscal policy should particularly aim at reducing the high volatility of public investment spending in commodity-exporting countries, both in good and bad times.
650  4 Commodity Prices
650  4 Debt Management
650  4 Fiscal Policy
700 1  Ayivodji, Firmin.
700 1  Essl, Sebastian.
700 1  Galego Mendes Galego, Arthur.
700 1  Matta, Samer.
700 1  Richaud, Christine.
830  0 Other papers.
830  0 World Bank e-Library.
906    BOOK