Chapter 10 Recent Experiences with Fiscal Responsibility Frameworks
Author:
Metodij Hadzi-Vaskov
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,
Mr. Javier Kapsoli
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, and
Mr. Bogdan Lissovolik
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Language:
English
Print Publication Date:
13 Sep 2019
Keywords:
BOOK; CAPDR; CAPDR country; financial crisis; CAPDR region; CAPDR deficit slippage; expenditure rule; rule design; Fiscal governance; Fiscal rules; Central America; best-practice country

Abstract

Policy efforts to strengthen fiscal prudence, gain credibility, and ensure fiscal sustainability have long been priorities for policymakers in CAPDR countries. Some countries in the region have introduced fiscal responsibility frameworks to meet these objectives, while others are considering similar legal structures. Taking stock of the main characteristics and results so far, both in CAPDR and in other emerging market economies, reveals key challenges for countries considering embarking on the journey to fiscal responsibility.

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Cover Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic
Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic
ISBN:
9781484353844
Publication Date:
13 Sep 2019
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781484353844.071
Pages:
308