Series: IMF Working Papers
Author(s): Ezequiel Cabezon , Patrizia Tumbarello , and Yiqun Wu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 19 June 2015
Keywords: revenue volatility, procyclical policies, quality of spending, revenue, debt, expenditure, public spending, General,
Reflecting diseconomies of scale in providing public goods and services, recurrent spending in small states typically represents a large share of GDP. For some small states, this limits the fiscal space available f...