The relationship between fiscal and current account balances in the Caribbean

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/W.443
cepal.docTypeDocumentos de proyectos e investigación
cepal.idSade45075
cepal.jobNumberS2011925 E
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficePuerto España
cepal.topicEngFISCAL AFFAIRS
cepal.topicSpaASUNTOS FISCALES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorAlleyne, Dillon
dc.contributor.authorDookie, Michele
dc.contributor.authorLugay, Beverly
dc.coverage.spatialEngCARIBBEAN REGION
dc.coverage.spatialSpaCARIBE
dc.date.accessioned2014-01-02T15:22:06Z
dc.date.available2014-01-02T15:22:06Z
dc.date.issued2011-10
dc.descriptionIncludes bibliography
dc.description.abstractThe global economic recession which affected most of the Caribbean would have been less severe if policymakers were in a position to sustain fiscal stimulus packages for a longer duration. This paper argues that while the crisis aggravated the debt and fiscal situation, the negative fiscal and current account balances reflected long standing issues related to declining competitiveness. To address the challenging fiscal situation, a number of countries are pursuing fiscal consolidation programmes, many of which imply expenditure cuts and revenue increases. Implicit in such programmes is that the current account deficits are due to fiscal deficits and, consequently, in some countries fiscal responsibility laws are being enacted. To address the question as to whether the current account balances cause the fiscal balance or vice versa, Granger causality tests were employed. In addition, the proportion of the variance due to the shock from one variable to another is examined using a vector autoregressive moving average (VARMA) framework. The analysis was carried out for Antigua and Barbuda, Barbados, Belize, Grenada, Guyana, Jamaiaca, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Trinidad and Tobago for the period 1980-2010.
dc.formatTexto
dc.format.extent36 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/CAR/L.345
dc.identifier.unSymbolLC/W.443
dc.identifier.urihttps://hdl.handle.net/11362/4084
dc.language.isoeng
dc.physicalDescription36 p. : gráfs., tabls.
dc.publisherECLAC
dc.publisher.placePort-of-Spain
dc.relation.isPartOfSeriesDocumentos de Proyectos
dc.relation.isPartOfSeriesNo443
dc.subject.unbisEngNATIONAL ACCOUNTS
dc.subject.unbisEngPUBLIC FINANCE
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisSpaCUENTAS NACIONALES
dc.subject.unbisSpaHACIENDA PUBLICA
dc.subject.unbisSpaPOLITICA FISCAL
dc.titleThe relationship between fiscal and current account balances in the Caribbean
dc.type.coarlibro
dspace.entity.typePublication
relation.isAuthorOfPublication2ab95237-472d-4ba9-8a56-fe19e9d26512
relation.isAuthorOfPublication59e191e1-7a15-4e7d-b109-cca6e9083e22
relation.isAuthorOfPublicationfa76979b-de1d-4c3f-bee5-84d2ebb8d591
relation.isAuthorOfPublication.latestForDiscovery2ab95237-472d-4ba9-8a56-fe19e9d26512
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