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    Macroeconomic Effects of Fiscal Policies: Empirical Evidence from Bangladesh, People’s Republic of China, Indonesia, and Philippines

    Ducanes, Geoffrey; Cagas, Marie Anne; Qin, Duo; Quising, Pilipinas; Razzaque, Mohammad Abdur | November 2006
    Abstract
    Fiscal expansion in Bangladesh, the People's Republic of China, Indonesia, and the Philippines via increased spending is typically more effective than fiscal expansion via tax rate reduction for stimulating growth. On the other hand, the effectiveness of expenditure versus tax-side automatic stabilizers differs across countries. This paper studies the macroeconomic effects of fiscal policies in four Asian countries - Bangladesh, the People's Republic of 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, the effectiveness of expenditure versus tax-side stabilizers, differs across countries.
    Citation
    Ducanes, Geoffrey; Cagas, Marie Anne; Qin, Duo; Quising, Pilipinas; Razzaque, Mohammad Abdur. 2006. Macroeconomic Effects of Fiscal Policies: Empirical Evidence from Bangladesh, People’s Republic of China, Indonesia, and Philippines. © Asian Development Bank. http://hdl.handle.net/11540/2568. License: CC BY 3.0 IGO.
    Keywords
    Economic Crisis
    Economic Efficiency
    Economic Policies
    Regional Economic Development
    Public Sector Wages
    Crisis
    Unemployment
    Economic cooperation
    Gross domestic product
    Employment
    Wage payment systems
    Wages
    Financial crisis
    Labor economics
    Regional economics
    Guaranteed annual wage
    Wage differentials
    Wages and labor productivity
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    Citable URI
    http://hdl.handle.net/11540/2568
    Metadata
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    PDF (1.087Mb)
    Author
    Ducanes, Geoffrey
    Cagas, Marie Anne
    Qin, Duo
    Quising, Pilipinas
    Razzaque, Mohammad Abdur
    Theme
    Economics
    Public Sector

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise