Public sector debt, fiscal deficits, and economic adjustment : a comparative study of six EMENA countries

About

Countries

Data & Research

Learning

News

Projects & Operations

Publications

Topics

Home > Data & Research > Research > Document Search > Report Details

Public sector debt, fiscal deficits, and economic adjustment : a comparative study of six EMENA countries, Volume 1

Author:	Thorne, Alfredo E.; Dastgheib, Azita;	Collection Title:	Policy, Research working papers ; no. WPS 840. Trade and finance
Country:	Portugal; Algeria; Pakistan; Morocco; Serbia; Turkey;	Date Stored:	2003/03/01
Document Date:	1992/01/31	Document Type:	Policy Research Working Paper
Language:	English	Major Sector:	(Historic)Economic Policy
Region:	Europe and Central Asia; South Asia; Middle East and North Africa	Report Number:	WPS840
Sub Sectors:	(Historic)Macro/non-trade	SubTopics:	Environmental Economics & Policies; Economic Theory & Research; Economic Stabilization; Strategic Debt Management; Public Sector Economics
Volume No:	1

Summary: The authors analyzed the experience of six countries (Algeria, Morocco, Pakistan, Portugal, Turkey, and Yugoslavia) and compared it with the experiences of Latin American countries. They conclude that some countries successfully absorbed the external shock of the 1980s by: (a) minimizing the effects of the external shock by combining external and domestic debt strategies; (b) adjusting their fiscal deficits; (c) experiencing a positive external shock; and (d) fostering growth by stimulating export growth and developing domestic financial markets. No single country fully implemented this strategy; those most successful in doing so were Morocco, Portugal, and Turkey. Their experience contrasts with that of some Latin American countries that experienced a similar external shock but failed to undertake fiscal adjustment and financed most of their deficit through money finance - thus experiencing high inflation levels and overburdening their private sector. In some respects, Yugoslavia had the same experience.


Official Documents Official, scanned versions of documents (may include signatures, etc.)
File Type		Description	File Size (mb)

	PDF 73 pages	Official version*	5.11 (approx.)
	Text	Text version**

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.

** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.

Permanent URL for this page: http://go.worldbank.org/SPQKLXF1I0