Mr. Kop is Director of Research at the Center for Social Policy Studies in Israel. This paper is part of a longer study (Kop (1988)) prepared while he was a visiting scholar in the Fund’s Fiscal Affairs Department in November-December 1987.
All references to years are to fiscal vears (from April 1 to the following March 31).
Government statistics in the 1980s switched to gross domestic product (GDP) instead of GNP. The relevance of this shift is negligible.