000			01792nab a2200289 c 4500
999			_c142249 _d142249
003			ES-MaIEF
005			20200729131322.0
007			ta
008			200729s2020 xxu||||| |||| 00| 0 eng d
040			_cES-MaIEF _aES-MaIEF _bspa
041	0		_aeng
100	1		_aSmall, Oronde _968043
245	0	4	_aThe fiscal policy response to public debt in developing countries _c Oronde Small, Leanora Brown, Gustavo Canavire‐Bacarreza
260			_c2020
504			_aBibliografía
520			_aTheoretical models on fiscal sustainability hypothesize that indebted governments can lower their current debt by generating future primary surpluses, ceteris paribus . While both developed and developing countries struggle with the issue of debt stabilization, the latter, in particular face heightened sensitivity from creditors, which provides them an impetus to respond more strongly to stabilize their debt. Based on a panel of 53 developing countries, we examine the fiscal response of these countries to changes in their debt‐to‐gross domestic product ratio. We find evidence of a positive relationship between the debt and primary surplus and that countries adjust along both the revenue and expenditure margins at roughly the same rate. (JEL E62, H50, O11)
650		4	_aESTABILIZACION ECONOMICA _942545
650		4	_aHACIENDA PUBLICA _950201
650		4	_aDEFICIT PUBLICO _941783
650		4	_aDEUDA PUBLICA _942647
650		4	_aPAISES EN DESARROLLO _947936
700	1		_968044 _aBrown, Leanora
700			_962875 _aCanavire Bacarreza, Gustavo
773	0		_9162376 _oOP 1634/2020/1 _tContemporary Economic Policy _w(IEF)574 _x 1074-3529 [papel] _gvolume 38, number 1, january 2020, p. 155-165
856			_uhttps://onlinelibrary.wiley.com/doi/epdf/10.1111/coep.12432
942			_cART