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Macroeconomic Effects of Fiscal Policies: Empirical Evidence from Bangladesh, China, Indonesia and the Philippines

Geoffrey Ducanes (), Marie Anne Cagas, Duo Qin (), Pilipinas Quising and Mohammad Razzaque ()
Additional contact information
Marie Anne Cagas: Asian Development Bank and University of the Philippines
Pilipinas Quising: Asian Development Bank

No 564, Working Papers from Queen Mary University of London, School of Economics and Finance

Abstract: This paper studies macroeconomic effects of fiscal policies in four Asian countries - Bangladesh, China, Indonesia, and the Philippines - by means of structural macroeconometric model simulations. It is found that short-term fiscal multipliers from an untargeted increase in government expenditure are positive but much less than those from an increased expenditure targeted to capital spending. The multiplier effects from fiscal expansion via a tax rate reduction are found to be typically much less than through higher spending. The effectiveness of automatic stabilizers in general, and more specifically whether expenditure or tax-side stabilizer is more effective, differs across countries.

Keywords: Fiscal policy; Growth; Public finance; Deficit (search for similar items in EconPapers)
JEL-codes: C53 E17 E62 P52 (search for similar items in EconPapers)
Date: 2006-09
New Economics Papers: this item is included in nep-cba, nep-cna, nep-dev, nep-mac, nep-pbe, nep-sea and nep-tra
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Working Paper: Macroeconomic Effects of Fiscal Policies: Empirical Evidence From Bangladesh, China, Indonesia and the Philippines (2006) Downloads
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