Fiscal Rules : Coping with Revenue Volatility in Lesotho and Swaziland /

Fiscal Rules : Coping with Revenue Volatility in Lesotho and Swaziland /

Over the past decade, Lesotho and Swaziland have faced significant volatility in their fiscal revenues, owing to highly unstable Southern African Customs Union (SACU) receipts. Based on model analysis, this paper explores the advantages of implementing fiscal rules to deal with such volatility. It f...

Szczegółowa specyfikacja

Opis bibliograficzny
1. autor: Honda, Jiro
Kolejni autorzy: Nose, Manabu, Sosa Padilla, Cesar, Torres, Jose L.
Format: Czasopismo
Język:English
Wydane: Washington, D.C. : International Monetary Fund, 2017.
Seria:Departmental Papers; Departmental Paper ; No. 2017/005
Dostęp online:Full text available on IMF
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100 1 |a Honda, Jiro. 
245 1 0 |a Fiscal Rules :   |b Coping with Revenue Volatility in Lesotho and Swaziland /  |c Jiro Honda, Manabu Nose, Cesar Sosa Padilla, Jose L. Torres. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2017. 
300 |a 1 online resource (53 pages) 
490 1 |a Departmental Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Over the past decade, Lesotho and Swaziland have faced significant volatility in their fiscal revenues, owing to highly unstable Southern African Customs Union (SACU) receipts. Based on model analysis, this paper explores the advantages of implementing fiscal rules to deal with such volatility. It finds that the use of a structural balance target could smooth the growth impact from revenue shocks while helping preserve sufficient international reserves during bad times. From a long-term perspective, it suggests possible welfare gains from introducing fiscal rules. Last, it concludes that, based on experiences in other countries, developing strong institutions and improving public financial management are necessary steps to ease the transitions to a rules-based fiscal policy framework. 
538 |a Mode of access: Internet 
700 1 |a Nose, Manabu. 
700 1 |a Sosa Padilla, Cesar. 
700 1 |a Torres, Jose L. 
830 0 |a Departmental Papers; Departmental Paper ;  |v No. 2017/005 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/087/2017/005/087.2017.issue-005-en.xml  |z IMF e-Library 

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