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Fiscal Cycles in the Caribbean, Juliana Araujo

The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disaster cycles. Our main findings suggest that fiscal policy has been mostly procyclical in the region, while disasters have been heavily "insured" by foreign transfers. The "when it rains, it pours" phenomena suggested by Kaminsky, Reinhart and Vegh (2004) seems to take place in the Caribbean
Table Of Contents
Contents; I. Introduction; Figures; 1. Public Sector Debt in Selected Emerging Market Countries, end-2008; II. Business Cycles; A. Descriptive Statistics; Tables; 1. Composition of Fiscal Accounts; B. Fiscal Policy; 2. Expected Correlation of Fiscal Variables and the Business Cycle; 3. Cyclicality of Fiscal Revenue by Type; 4. Correlation of Cyclical Component of Real Government Revenue and Real GDP; 5. Cyclicality of Fiscal Expenditure by Type; 2. Cyclical Component of Real GDP and Real Government Expenditure
Literary Form
non fiction
1st ed.
Description based upon print version of record
Physical Description
1 online resource (29 p.)
Specific Material Designation
Form Of Item

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