Fiscal Policy Management in an Open Capital Regime

Fiscal Policy Management in an Open Capital Regime
This paper argues that as countries open their capital regimes, the appropriate fiscal stance should become more conservative than when capital is immobile. Further fiscal adjustment may be necessary in the face of large and volatile capital flows. However, the required changes would be smaller. If a fiscal response is unavoidable, some elements... READ MORE...

Publication date: February 1997
ISBN 9781451922158
$15.00

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