Identifying Fiscal Space:Options for Social and Economic Development for Children and Poor Households in 184 Countries

Isabel Ortiz, Jingqing Chai and Matthew Cummins

Working papers from UNICEF,Division of Policy and Strategy

Abstract: It is often argued that social and economic investments that benefit children and poor households are not affordable or that government expenditure cuts are inevitable during adjustment periods. But there are alternatives, even in the poorest countries. This working paper offers an array of options that can be explored to expand fiscal space. These include: (i) re-allocating public expenditures, (ii) increasing tax revenues, (iii) lobbying for increased aid and transfers, (iv) tapping into fiscal and foreign exchange reserves, (v) borrowing and restructuring existing debt, and /or (vi) adpoting a more accommodative macroeconomic framework. To serve as a general advocacy resource, the annex provides a summary of the latest fiscal space indicators for 184 countries.

Keywords: fiscal space; fiscal consolidation; public expenditures; social spending; crisis recovery; development policy; equity; tax revenues; foreign reserves; official development assistance; government borrowing; debt; expansionary fiscal and monetary policy (search for similar items in EconPapers)
JEL-codes: F35 H12 H2 H5 H6 H62 H63 I38 O2 O23 (search for similar items in EconPapers)
Date: 2011
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Persistent link: http://EconPapers.repec.org/RePEc:uce:wpaper:1108

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