Prudent sovereign borrowing from financial markets

Vatcharin Sirimaneetham and Yong Yoon
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Yong Yoon: Assistant Professor, Faculty of Economics, Chulalongkorn University

No PB70, MPDD Policy Briefs from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: ESCAP studies in recent years have argued that the goal of fiscal policies should not be focused solely on ensuring macroeconomic stability, but also on promoting sustainable development through job creation, social development and environmental protection. Hence, there is a need to rethink what is the right balance between the stabilization and the developmental roles of fiscal policies. While public debt sustainability should be closely monitored and maintained, Governments also should ensure that meeting targeted fiscal outcomes does not come at the cost of reducing spending on development objectives.

Date: 2018
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