Strengthening Chile's Rule-Based Fiscal Framework /

The cornerstone of Chile's impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years...

সম্পূর্ণ বিবরণ

গ্রন্থ-পঞ্জীর বিবরন
প্রধান লেখক: Daban Sanchez, Teresa
বিন্যাস: পত্রিকা
ভাষা:English
প্রকাশিত: Washington, D.C. : International Monetary Fund, 2011.
মালা:IMF Working Papers; Working Paper ; No. 2011/017
অনলাইন ব্যবহার করুন:Full text available on IMF
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520 3 |a The cornerstone of Chile's impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years has revealed certain challenges, and in May 2010, the government established a high-level commission to recommend reforms that could make the rule even more effective. This paper assesses the scope for improving the design and implementation of the structural balance rule in light of best practices and OECD country experience with fiscal rules. This assessment suggests several options to strengthen Chile's fiscal rule, including by simplifying the calculation of the structural balance; enhancing the rule's flexibility, transparency and accountability; and complementing it with a medium-term fiscal framework. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/017 
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