This paper introduces an "index of macroeconomic space" -- demonstrating the ability of a country to run a countercyclical fiscal policy or a fiscal stimulus at any point in time -- to show how a sample of 20 mostly middle-income countries had entered the 2008 global financial crisis with different initial conditions that, in turn, determined their ability to respond to this crisis. Since 2008, many have implemented expansionary fiscal policies and...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2010/07/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5381
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1
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1
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2010/07/26
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Disclosed
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Do middle-income countries continue to have the ability to deal with the global financial crisis ?
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Poverty Reduction & Economic Management