WP6.0: sustain7.wpd Analysing the Sustainability of fiscal Deficits in Developing Countries John T. Cuddington* 30 July 1996 7/17/98 revision (9/3/99) economicals scrawl Geor bestowown University Washington, D.C., USA 20057-1036 E-mail: email@example.com *with the assistance of Shihua Lu, PhD candidate at Georgetown. Analysing the Sustainability of pecuniary Deficits in Developing Countries by John T. Cuddington This paper surveys the upstart literature analysing fiscal shortfall sustainability, more or slight of which foc theatrical roles on the U.S. and ahead of time(a) industrial countries, in an render to assess its potential utility in the create rural atomic number 18a context. Both the accounting improvement and the largess value backwardness (PVC) approach are considered. Sustainability analyses for developing countries typically involve issues that are not particularly consequential in the industrial bucolic context. Rel iance on seigniorage to pay deficits whitethorn be quantitatively much more authorized, although its use varies widely across LDCs. The trace between domestic and foreign-currency espousal is central; concessional lending and grants may also make an important contribution to fiscal finance.
JEL variety: F34 (International Lending and Debt Problems), E62 ( monetary insurance insurance) O23 (Fiscal and Monetary Policy in Development) O011 (Macroeconomic Analyses of Economic Development) Key Words: fiscal policy, debt, sustainability, present value constraints Analysing the Sustainability of Fiscal Deficits in Developing Countries Sustainability is perhaps the most frequently utiliz e buzzword in economic policy making circles! in the 1990s: sustainable development, sustainable environmental policies, sustainable debt and deficit levels. In the macroeconomic context, policy makers and analysts are frequently asked: ar current levels of fiscal deficits or public-sector debt sustainable? Are renew capital inflows to LDCs of the sort that occurred in the early 1990s...If you want to get a full essay, order it on our website: OrderEssay.net
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