The fiscal position can affect fiscal multipliers through two channels. Through the Ricardian channel, households reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is...
The seven largest emerging market economies -- China, India, Brazil, Russia, Mexico, Indonesia, and Turkey -- constituted more than one-quarter of global output and more than half of global output growth...
This paper presents a systematic analysis of the availability and use of fiscal space in emerging and developing economies. These economies built fiscal space in the run-up to the Great Recession of 2008-09...
This paper analyzes the relationship between fiscal multipliers and fiscal positions of governments using an Interactive Panel Vector Auto Regression model and a large data-set of advanced and developing...
Global growth again fell short of expectations in 2015. Growth is projected to edge up in 2016-18 but the forecast is subject to substantial downside risks. In addition to discussing global and regional...
This issue highlights the following headings: overview; chart of the month; special focus: fiscal policy challenges in developing economies; and monthly highlights.