Rules-Based Fiscal Policy in Emerging Markets: Background, Analysis, and Prospects

Front Matter....Pages i-xiii
Overview of Fiscal Policy Rules in Emerging Markets....Pages 1-11
Front Matter....Pages 13-13
Fiscal Rules from a Political Economy Perspective....Pages 15-29
Good Credit Ratios, Bad Credit Ratings: The Role of Debt Structure....Pages 30-52
Can Fiscal Rules Help Reduce Macroeconomic Volatility?....Pages 53-65
Fiscal Policy and High Capital Mobility....Pages 66-80
Fiscal Institutions versus Political Will....Pages 81-94
Front Matter....Pages 95-95
EMU Fiscal Rules: What Can and Cannot be Exported....Pages 97-113
Fiscal Rules and Debt Sustainability in Brazil....Pages 114-130
Fiscal Rules in Mexico: Evolution and Prospects....Pages 131-145
Fiscal Rules on the Road to an Enlarged European Union....Pages 146-163
Fiscal Rules for Economies with Nonrenewable Resources: Norway and Venezuela....Pages 164-179
Front Matter....Pages 181-181
Subnational Fiscal Rules: A Game Theoretic Approach....Pages 183-197
Rules-Based Adjustment in a Highly Decentralized Context: The Case of India....Pages 198-218
Fiscal Rules for Subnational Governments: Lessons from the EMU....Pages 219-234
Rules for Stabilizing Intergovernmental Transfers in Latin America....Pages 235-249
Back Matter....Pages 250-286