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India’s Experience with Fiscal Rules
Mr.Alejandro SimonePetia Topalova
其他書名
An Evaluation and The Way Forward
出版International Monetary Fund, 2009-08-01
主題Business & Economics / Public FinanceBusiness & Economics / Economics / Macroeconomics
ISBN14518732209781451873221
URLhttp://books.google.com.hk/books?id=8JLxzQEACAAJ&hl=&source=gbs_api
註釋This paper examines India's experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy on debt sustainability by the use of a medium term debt target, and annual nominal expenditure growth rules is proposed. This approach tackles the deficit bias at its core and enables countercyclical fiscal policy through automatic stabilizers. Numerical targets should be supported by structural reform measures for both revenues and expenditures, while the coverage of the fiscal rules should be expanded.