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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Fiscal Decentralization And Fiscal Consolidations In Emerging Market Economies, John Thornton
Fiscal Decentralization And Fiscal Consolidations In Emerging Market Economies, John Thornton
John Thornton
Results using event study analysis based on a data panel of expenditure and revenue developments in emerging market economies during 1972–2001 indicate that subnational governments supported fiscal consolidation efforts by cutting their capital expenditure and increasing their revenues.
Government Size And The Stability Of Output: Evidence From Emerging Market Economies, John Thornton
Government Size And The Stability Of Output: Evidence From Emerging Market Economies, John Thornton
John Thornton
Fata ́ s and Mihov (2001a, b) reported a negative and statistically significant relation between government size and output variability in a cross-section of 20 Organization for Economic Cooperation and Development (OECD) countries and concluded that large governments stabilize output. This conclusion does not appear to be valid for Emerging Market Economies (EMEs). Results from cross-section and combined cross-section and time series regressions for a sample of 21 EMEs for the period 1970 to 2001 indicate that the relation between government size and output volatility is statistically significant and positive.
Who Chooses To Adopt Fiscal Responsibility Laws? Evidence From Emerging Market Economies, John Thornton
Who Chooses To Adopt Fiscal Responsibility Laws? Evidence From Emerging Market Economies, John Thornton
John Thornton
In recent years, at least 10 emerging market economies have sought to anchor their fiscal frameworks in fiscal responsibility laws. Key factors in the decision appear to include a prior improvement in fiscal discipline, particularly in the context of a federal fiscal system, substantial ethnic fractionalization and vulnerability to adverse shocks, such as real exchange rate volatility and inflation.
Fiscal Sustainability In A Panel Of Asian Countries, John Thornton
Fiscal Sustainability In A Panel Of Asian Countries, John Thornton
John Thornton
Panel cointegration techniques indicate that government revenue (REV) and expenditure (EXP) in a panel of five Asian economies for the period 1974 to 2001 were nonstationary and cointegrated series. However, the cointegration coefficient was significantly less than unity, indicating ‘weak’ fiscal sustainability and the likelihood that policy measures would be needed to put the public finances on a more sustainable basis