cam a22 2 b4500 530124238 CHVBK 20201027043911.0 m d cr |n |||||||| 130723e20110801dcu s|||| 0 |eng|d 978-1-4639-0216-2 1-4639-0216-6 (Trade Paper) : USD 18.00 Retail Price (Publisher) (SERSOL)ssj0001176383 (WaSeSS)ssj0001176383 BIP US WaSeSS International Monetary Fund Author The Cyclicality of Fiscal Policies in the Cemac Region [Elektronische Daten] Washington International Monetary Fund Aug. 2011 1 online resource Free full text available for some or all content. Article availability is subject to change without notice, according to publisher decision. Die Verfügbarkeit der Online-Ressourcen ist Entscheidung des Verlags oder des Urhebers und kann ohne vorherige Ankündigung geändert werden. Annotation This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. the issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal policies across these six countries have been procyclical using panel data to elaborate our analysis. Like in other sub-Saharan countries, total public expenditure in the CEMAC is found to be strongly procyclical. This is most pronounced for public investment, which overreacts to output growth with elasticity above 1. We further find that institutional weaknesses and poor governance partly explain this behavior. In contrast, the existence of an IMF-supported program can be a counterbalancing influence in attenuating this bias. http://elibrary.imf.org/view/IMF001/12142-9781463902162/12142-9781463902162/12142-9781463902162.xml Volltext frei zugänglich BK020053 XK020053 XK020000 IMF E-Library E-Books von 360MarcUpdates IDSBB FREE FREE OL NELFREE2004 IDSBB 110 2- International Monetary Fund Author IDSBB 856 40 http://elibrary.imf.org/view/IMF001/12142-9781463902162/12142-9781463902162/12142-9781463902162.xml Volltext frei zugänglich