{"id":1663,"date":"2011-06-23T18:06:31","date_gmt":"2011-06-23T16:06:31","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=1663"},"modified":"2011-06-23T18:06:31","modified_gmt":"2011-06-23T16:06:31","slug":"fiscal-policy-in-developing-countries-escape-from-procyclicality","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/fiscal-policy-in-developing-countries-escape-from-procyclicality\/","title":{"rendered":"Fiscal policy in developing countries: Escape from procyclicality"},"content":{"rendered":"<p><a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/102\" target=\"_blank\">Frankel, Jeffrey<\/a>,\u00a0<a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/4038\" target=\"_blank\">Vegh, Carlos\u00a0<\/a>\u00a0&amp; <a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/6676\" target=\"_blank\">Vuletin, Guillermo<\/a>.<\/p>\n<div>\n<p>With the ongoing financial turmoil in Europe, many emerging market countries are now deemed less risky than so-called \u201cadvanced\u201d countries. This column examines why this is the case and finds that the cyclicality of a country\u2019s fiscal policy \u2013 a sign of its riskiness \u2013 is inversely correlated with the quality of the country\u2019s institutions.<\/p>\n<\/div>\n<div>\nFiscal policy is taking centre stage. Among advanced countries, the news is bad; Europe\u2019s periphery teeters, the UK slashes, the US deadlocks, Japan muddles. But in the rest of the world there is good news. In an historic reversal, many emerging market and developing countries have over the last decade achieved a countercyclical fiscal policy.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Voxeu<\/p>\n<p><a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/6677\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Frankel, Jeffrey,\u00a0Vegh, Carlos\u00a0\u00a0&amp; Vuletin, Guillermo. With the ongoing financial turmoil in Europe, many emerging market countries are now deemed less risky than so-called \u201cadvanced\u201d countries. This column examines why this is the case and finds that the cyclicality of a country\u2019s fiscal policy \u2013 a sign of its riskiness \u2013 is inversely correlated with the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39],"tags":[28,25],"class_list":["post-1663","post","type-post","status-publish","format-standard","hentry","category-18","category-39","tag-28","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=1663"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1663\/revisions"}],"predecessor-version":[{"id":1665,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1663\/revisions\/1665"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=1663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=1663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=1663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}