Suggestions for Alternative Measures of Budget Balance for South Africa

Jacobs, Davina

doi:10.5089/9781451853353.001

Cited by 4 publications

(3 citation statements)

References 16 publications

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“…All these considerations raise the question of a correct interpretation of the information relayed by the measures that quantify the size of the budgetary imbalances. In this sense, Jacobs (2002) identified several ways of quantifying the size of the budgetary imbalance, each having its significance and utility. This is why, when for example, one claims that the budgetary deficit is too high or too low, or when it is considered the cause of such phenomena as inflation or the crowdingout, it is crucial to know how the size of the respective budgetary balance was quantified (Sloman, J. and Wride, A, 2009; Rosen and Gayer, 2008).…”

Section: Literature Overviewmentioning

confidence: 99%

A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

Dincă¹,

Dincă²

2010

ERSJ

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In this paper we analyze the situation of the Public Finances for Greece and Romania for the 2000-2008 period, attempting to identify the fundamental factors that lead to the poor situation of the two countries in the current period. Currently, Greece and Romania are facing difficult financial situations, confronted with record levels of public debt and deficits, being forced to close urgent financial agreements with the European Commission and IMF to avoid financial collapse. In the study we analyze the main parameters of the government finances of Greece and Romania and compare them with the average levels of the European Union.

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Section: Literature Overviewmentioning

confidence: 99%

A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

Dincă¹,

Dincă²

2010

ERSJ

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“…Table 1 shows that the fiscal convergence criteria was missed by all or a majority of countries in 1998-2000, but only 5 Many different indicators could be used to assess the fiscal position and answer other broad questions about fiscal policy. Jacobs (2002), for example, estimates 30 different measures of the budget balance for South Africa based on different definitions of the current balance (measuring government savings); the primary balance (which excludes interest payments); public debt/GDP ratio and the primary tax gaps (measuring fiscal sustainability); and the public sector borrowing requirement. These indicators could also be supplemented with measures of fiscal impact and discretion, including cyclically-adjusted balances.…”

Section: Cemac Convergence Criteriamentioning

confidence: 99%

Improving Surveillance Across the Cemac Region

Iossifov

Takebe²,

Zhan³

et al. 2009

IMF Working Papers

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This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. In this paper, we consider the design of the surveillance, and, in particular, the fiscal criteria in the Central African Economic and Monetary Community (CEMAC) with the view to ensuring they are consistent with internal and external sustainability. This consistency is important within a monetary union because fiscal policy is the primary instrument through which national governments can influence macroeconomic performance. We comment on how surveillance might be improved by broadening the region's current criteria through alternative fiscal indicators, some focus on the scope and nature of external shocks, and attention to the consistency of policies in assuring the viability of the union and its fixed exchange rate regime.

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“…Alternative definitions of the budget balance are unavoidable given the scope and operations of the public sector. Jacobs (2002), for instance, considers 22 alternative budget balances for South Africa.…”

Section: Measures Of the Fiscal Deficitmentioning

confidence: 99%

Fiscal Issues and Central Banking in Emerging Economies

Settlements

2003

SSRN Journal

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This overview in particular, and the volume in general, have greatly benefited from the cooperation, comments and statistical input of the central banks invited to the meeting. Thanks also go to John Hawkins for his work in editing this volume, to Lizzie Locke and Karina Tarling for secretarial assistance, to Arwen Hopkins, Nigel Hulbert, Tom Minić, Alison Spurway and colleagues in the Monetary and Economic Department of the BIS for editorial suggestions and to Liliana Morandini and Gabriela Salvisberg for production assistance.

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Suggestions for Alternative Measures of Budget Balance for South Africa

Abstract: The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are fmhlished to elicit comments and to further debate.

Cited by 4 publications

References 16 publications

A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

Improving Surveillance Across the Cemac Region

Fiscal Issues and Central Banking in Emerging Economies

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