Financement externe et politique budgétaire: le rôle du Stabex

Jean Brun (j-francois.brun@uca.fr), Gérard Chambas (gerard.chambas@udamail.fr) and Bertrand Laporte
Additional contact information
Gérard Chambas: Centre d'Etudes et de Recherches sur le Développement International(CERDI)

No 199905, Working Papers from CERDI

Abstract: In the literature, when the price of primary products is booming, developing countries are generally facing an increase in the availability of foreign financing. The STABEX payments should occur after a shortfall export earnings, and as a consequence when government revenues are falling. We show that these payments, when they are made during periods of low real government revenues, allow for additional public expenditures. On the contrary, when payments are made during periods of high real revenues, they substitute for other ways of financing and have no expansionary effect. This is a strong argument in favour of STABEX.

Pages: 17
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://publi.cerdi.org/ed/1999/1999.05.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://publi.cerdi.org/ed/1999/1999.05.pdf [301 Moved Permanently]--> https://publi.cerdi.org/ed/1999/1999.05.pdf)

Related works:
Journal Article: Financement externe et politique budgétaire: le rôle du STABEX (1999)
Working Paper: Financement externe et politique budgétaire: le rôle du STABEX (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cdi:wpaper:104

Access Statistics for this paper

More papers in Working Papers from CERDI Contact information at EDIRC.
Bibliographic data for series maintained by Vincent Mazenod (webmestre.cerdi@u-clermont1.fr).