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Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.

Fiscal policy --- Economic stabilization --- E-books --- Israel --- Budgeting --- Inflation --- Macroeconomics --- Public Finance --- Taxation --- Exports and Imports --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- Price Level --- Deflation --- Trade Policy --- International Trade Organizations --- Fiscal Policy --- Public finance & taxation --- Budgeting & financial management --- International economics --- Finance --- Currency --- Foreign exchange --- Expenditure --- Government debt management --- Budget planning and preparation --- Revenue administration --- Public financial management (PFM) --- Prices --- Taxes on trade --- Taxes --- Expenditures, Public --- Debts, Public --- Budget

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This paper highlights that after two years of rapid growth in 1987 and 1988, there are now signs that the economic expansion in industrial countries is moderating to more sustainable rates. Inflation pressures have built up over 1988, reflecting high levels of resource utilization as well as certain temporary factors, but monetary conditions have been tightened substantially. Although the risk of a dangerous acceleration of inflation still exists, it appears to have diminished somewhat. Growth has also been strong in many developing countries, particularly exporters of manufactures.

Economic history --- Exports and Imports --- Financial Risk Management --- Inflation --- Macroeconomics --- Production and Operations Management --- Current Account Adjustment --- Short-term Capital Movements --- International Lending and Debt Problems --- Price Level --- Deflation --- Debt --- Debt Management --- Sovereign Debt --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- International economics --- Finance --- Public finance & taxation --- Budgeting & financial management --- Population & demography --- Current account balance --- Total factor productivity --- Debt reduction --- Debt burden --- Prices --- Balance of payments --- Asset and liability management --- External debt --- Debts, External --- Industrial productivity --- Saving and investment --- United States