2001
DOI: 10.1002/jid.779
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Stabex versus IMF compensatory financing: impact on fiscal policy

Abstract: The supply of external financing to developing countries generally tends to increase in periods when export earnings are booming and thus, in periods of increasing government revenues. Conversely, Stabex and IMF Compensatory Financing transfers are primarily designed to take place in response to a fall in export earnings, and thus, in periods when government revenues are decreasing. However, these transfers occur in an unsteady way with respect to the cycle of government revenues. When occurring in periods of … Show more

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Cited by 8 publications
(8 citation statements)
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“…We now describe briefly the control variables included in the regressions. First, it is good to mention that property tax revenue collection is generally conducted by the level of economic development (Brun et al, 2015;Norregaard, 2013), which is captured by GDP per capita. Likewise, the increase in urban population can increase the property tax base by implementing new constructions (Bahl and Vazquez, 2008;Chambas et al, 2007).…”
Section: Empirical Strategymentioning
confidence: 99%
“…We now describe briefly the control variables included in the regressions. First, it is good to mention that property tax revenue collection is generally conducted by the level of economic development (Brun et al, 2015;Norregaard, 2013), which is captured by GDP per capita. Likewise, the increase in urban population can increase the property tax base by implementing new constructions (Bahl and Vazquez, 2008;Chambas et al, 2007).…”
Section: Empirical Strategymentioning
confidence: 99%
“…On the other hand, trade openness could generate higher tax revenue (e.g. Adam et al , 2001; Brun et al , 2015; Gnangnon and Brun, 2017; Thomas and Treviño, 2013) and hence increase the scope for social protection expenditure, which could in turn translate into higher social protection expenditure.…”
Section: Model Specificationmentioning
confidence: 99%
“…Néanmoins, aucun de ces systèmes n'a été jugé très efficace. Comme indiqué dans Guillaumont et al (2003), ils sont soumis à une conditionnalité de plus en plus rigoureuse, ce qui allonge toujours plus les délais entre le choc et le versement au pays, à tel point que ces mécanismes ont pris un tour pro-cyclique alors qu'ils étaient censés être contra-cycliques (Brun et al, 2001). Collier et Dehn (2001) démontrent, pour leur part, que les chocs des prix des matières premières ne semblent pas être pris en compte dans l'affectation de l'aide.…”
Section: Introductionunclassified