Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper presents new empirical evidence on how fiscal space in Sub-Saharan Africa has evolved over the past 15 years. Fiscal space is a multi-dimensional concept that is proxied by indicators capturing aspects of fiscal sustainability, balance sheet vulnerabilities, external debt positions, and market perception. The analysis relies on a new comprehensive database developed on a wide array of indicators (28) for a large set of countries in the world-of which 48 are in Sub-Saharan Africa. The analysis finds that, breaking with history, Sub-Saharan African countries were able to conduct countercyclical policies amid the 2008-09 global financial crisis, thanks to built-up liquidity and policy buffers. The evidence shows that fiscal adjustment efforts in the region were reversed amid the 2014-16 plunge in commodity prices, and oil and minerals and metals exporters saw a sharp deterioration in their primary balance sustainability gap. The paper finds a great deal of heterogeneity in the post-global financial crisis evolution of the fiscal space in the region. In countries with reduced fiscal space, the increase in the number of tax years to repay the debt fully was 1.1 years for the representative country, and in over one-third of the countries, this increase was more than one standard deviation above the median.

Agriculture --- Capital Flows --- Capital Markets and Capital Flows --- Economic Adjustment and Lending --- Finance and Financial Sector Development --- Fiscal Space --- General Government Gross Debt --- International Economics & Trade --- Macroeconomics and Economic Growth --- Primary Surplus --- Public Sector Development

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Administration publique --- BPB0902 --- Overheidsadministratie --- јавна администрација --- viešasis valdymas --- amministrazzjoni pubblika --- offentlig forvaltning --- pubblica amministrazione --- administración pública --- јавна управа --- overheidsadministratie --- public administration --- valsts pārvalde --- veřejná správa --- offentlig förvaltning --- administratë publike --- administrație publică --- javna uprava --- administracja publiczna --- държавна администрация --- öffentliche Verwaltung --- közigazgatás --- administração pública --- štátna správa --- δημόσια διοίκηση --- avalik haldus --- julkinen hallinto --- државна администрација --- valstybės valdymas --- hatóság --- P.A. --- státní správa --- viešasis administravimas --- general government --- Behörde --- riigihaldus --- органи на јавната администрација --- kormányhivatalok --- orgány státní správy --- државна управа --- qeveri e përgjithshme --- riiklikud haldusorganid --- riarachán poiblí

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Sociology of policy --- Public administration --- Netherlands --- 404 Bestuurskunde --- BPB0902 --- Administration publique --- Overheidsadministratie --- јавна администрација --- viešasis valdymas --- amministrazzjoni pubblika --- offentlig forvaltning --- pubblica amministrazione --- administración pública --- јавна управа --- overheidsadministratie --- public administration --- valsts pārvalde --- veřejná správa --- offentlig förvaltning --- administratë publike --- administrație publică --- javna uprava --- administracja publiczna --- държавна администрация --- öffentliche Verwaltung --- közigazgatás --- administração pública --- štátna správa --- δημόσια διοίκηση --- avalik haldus --- julkinen hallinto --- државна администрација --- valstybės valdymas --- hatóság --- P.A. --- státní správa --- viešasis administravimas --- general government --- Behörde --- riigihaldus --- органи на јавната администрација --- kormányhivatalok --- orgány státní správy --- државна управа --- qeveri e përgjithshme --- riiklikud haldusorganid --- riarachán poiblí

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

In many countries the decentralization of spending responsibilities has outpaced the decentralization of revenue powers. Sub-national governments have then to rely on transfers from the center and borrowing to finance their spending. When this occurs, we find that the overall fiscal deficit tends to increase. This result is based on cross-country econometric evidence from OECD countries, and is particularly strong in the presence of regional disparities. Fiscal discipline can be strengthened by ensuring that sub-national taxing powers are adequate to meet spending obligations.

Expenditures, Public --- Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Appropriations and expenditures --- Government appropriations --- Government expenditures --- Government spending --- Public expenditures --- Public spending --- Spending, Government --- Public administration --- Government spending policy --- Econometric models. --- Government policy --- Budgeting --- Macroeconomics --- Public Finance --- Structure, Scope, and Performance of Government --- National Deficit Surplus --- State and Local Government --- Intergovernmental Relations: General --- State and Local Taxation, Subsidies, and Revenue --- State and Local Budget and Expenditures --- Intergovernmental Relations --- Federalism --- Secession --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- National Budget --- Budget Systems --- Debt --- Debt Management --- Sovereign Debt --- Public finance & taxation --- Budgeting & financial management --- Fiscal stance --- Expenditure --- General government spending --- Public debt --- Public financial management (PFM) --- Budget --- Debts, Public --- Australia

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The purpose of this paper is to assess whether expenditure decentralization has contributed to weakening fiscal performance in Europe. Using a panel of EU15 countries for the period 1995-2011, we estimate three econometric models and ask the following questions: (1) does the form of spending decentralization affect the general government fiscal balance?; (2) is there evidence of spending duplication?; and (3) are soft budget constraints prevalent at the subnational level in Europe? Our results indicate that current decentralization models may have some shortcomings and efforts to achieve fiscal consolidation would require improvements in three areas: better matching subnational spending and revenues; reshaping some expenditure assignments to reduce overlap; and improving the effectiveness of institutional arrangements at the subnational level.

Budget --- Decentralization in government --- Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Budgeting --- Expenditures, Public --- Government policy --- Forecasting --- International Monetary Fund. --- Internationaal monetair fonds --- International monetary fund --- Government spending policy --- Public spending policy --- Spending policy, Government --- Full employment policies --- Unfunded mandates --- E-books --- Macroeconomics --- Public Finance --- Structure, Scope, and Performance of Government --- National Deficit Surplus --- State and Local Government --- Intergovernmental Relations: General --- State and Local Budget and Expenditures --- Intergovernmental Relations --- Federalism --- Secession --- National Government Expenditures and Related Policies: General --- Fiscal Policy --- National Budget --- Budget Systems --- Public finance & taxation --- Budgeting & financial management --- Expenditure --- Fiscal federalism --- General government spending --- Fiscal stance --- Fiscal rules --- Public financial management (PFM) --- Ireland