Some Thoughts on the Role of Fiscal Policy in Stabilisation and Structural Adjustment in Developing Countries

Willem Buiter

No 2603, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The paper analyses the role of fiscal policy in the restoration of internal and external macroeconomic equilibrium and in achieving structural adjustment i.e. major changes in the patterns of sectoral and intertemporal resource allocation. The focus is on developing and new industrial countries in need of both stabilization and structural adjustment. The external transfer problem and the associated internal fiscal and real resource transfer problems are analyzed with special emphasis on possible causes for the breakdown of the internal and external transfer processes. The concepts of national and public sector solvency are used to evaluate the mutual consistency and feasibility of fiscal, financial and monetary plans. Special attention is devoted to the links between the fiscal deficit and inflation and to the inflation tax.

Date: 1988-05
Note: ITI IFM
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Published as Buiter, Willem H. "Some Thoughts on the Role of Fiscal Policy in Stabilization and Structural Adjustment," from Principles of Budgetary and Financial Policy, ed. by Willem H. Buiter, Brighton, Sussex U.K.: Wheatsheaf Books Ltd., 1989.

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Related works:
Working Paper: Some Thoughts on the Role of Fiscal Policy in Stabilization and Structural Adjustment in Developing Countries (1988)
Working Paper: SOME THOUGHTS ON THE ROLE OF FISCAL POLICY IN STABILISATION AND STRUCTURAL ADJUSTMENT IN DEVELOPING COUNTRIES (1988)
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