The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina
Although international crises partially accounted for the recent weakArgentine economic performance, main causes have to be sought in domesticeconomic policies adding uncertainty to the decision process of economicsectors and amplifying crises’ effects. Government revenues exhibiteda positive, thoug...
| Main Authors: | , , |
|---|---|
| Format: | Online |
| Language: | eng |
| Published: |
Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2010
|
| Subjects: | |
| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/4106 |
| _version_ | 1837213611359993856 |
|---|---|
| author | Rezk, Ernesto Lafit, Ginette Ricca, Vanina |
| author_facet | Rezk, Ernesto Lafit, Ginette Ricca, Vanina |
| author_sort | Rezk, Ernesto |
| collection | Portal de Revistas |
| description | Although international crises partially accounted for the recent weakArgentine economic performance, main causes have to be sought in domesticeconomic policies adding uncertainty to the decision process of economicsectors and amplifying crises’ effects. Government revenues exhibiteda positive, though decreasing, evolution explained by a contraction oftax revenues despite transfers from the eliminated Private Pension Systemand IMF`s special draw rights. However, public spending was in the rootof the government’s fi scal strain as their growth rate outweighed that ofrevenues and caused an erosion of the primary surplus, whose present levelartifi cially stemmed from exceptional revenue fl ows and the discretionaryseizing of pension funds. Finally, although the overall cyclical sensitivity of tax revenues increased, budget balance’s response to GDP did not suffi ce tocheck cycles and active fi scal policies had to strengthen stabilizing actions. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-4106 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2010 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-41062022-04-06T22:40:48Z The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina El impacto de las crisis financieras internacionales en las economías emergentes y el desempeño de las políticas fiscales discrecionales: El caso de Argentina Rezk, Ernesto Lafit, Ginette Ricca, Vanina international financial crises discretionary fiscal policies Argentina H30 crisis financiera international política fiscal discrecional Argentina H30 Although international crises partially accounted for the recent weakArgentine economic performance, main causes have to be sought in domesticeconomic policies adding uncertainty to the decision process of economicsectors and amplifying crises’ effects. Government revenues exhibiteda positive, though decreasing, evolution explained by a contraction oftax revenues despite transfers from the eliminated Private Pension Systemand IMF`s special draw rights. However, public spending was in the rootof the government’s fi scal strain as their growth rate outweighed that ofrevenues and caused an erosion of the primary surplus, whose present levelartifi cially stemmed from exceptional revenue fl ows and the discretionaryseizing of pension funds. Finally, although the overall cyclical sensitivity of tax revenues increased, budget balance’s response to GDP did not suffi ce tocheck cycles and active fi scal policies had to strengthen stabilizing actions. Si bien las crisis internacionales explican parcialmente el débil desempeñoeconómico argentino reciente, las políticas económicas domésticas aumentaronla incertidumbre en los procesos de decisión económica y amplificaronlos efectos de las crisis. Los ingresos públicos exhibieron una evoluciónpositiva, aunque decreciente, por la contracción de los ingresos tributarios, apesar de la transferencia del eliminado Régimen Privado de Pensiones y laentrada de derechos especiales de giro. Sin embargo, las dificultades fiscalesse debieron en gran medida al gasto público, cuya tasa de crecimiento superóa la de los ingresos y erosionó el superávit primario, cuyo nivel actualartificial responde a ingresos excepcionales y a la transferencia de los fondosde pensión. Finalmente, aunque la sensibilidad cíclica total de los ingresosimpositivos creció, la respuesta del saldo presupuestario al producto noalcanzó a compensar los ciclos, y debieron usarse políticas fiscales activaspara fortalecer las acciones de estabilización. Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2010-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/REyE/article/view/4106 10.55444/2451.7321.2010.v48.n2.4106 Revista de Economía y Estadística; Vol. 48 No. 2 (2010); 29-68 Revista de Economía y Estadística; Vol. 48 Núm. 2 (2010); 29-68 2451-7321 0034-8066 10.55444/2451.7321.2010.v48.n2 eng https://revistas.unc.edu.ar/index.php/REyE/article/view/4106/6762 Derechos de autor 2010 Ernesto Rezk, Ginette Lafit, Vanina Ricca http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | international financial crises discretionary fiscal policies Argentina H30 crisis financiera international política fiscal discrecional Argentina H30 Rezk, Ernesto Lafit, Ginette Ricca, Vanina The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title | The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title_alt | El impacto de las crisis financieras internacionales en las economías emergentes y el desempeño de las políticas fiscales discrecionales: El caso de Argentina |
| title_full | The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title_fullStr | The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title_full_unstemmed | The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title_short | The Impact of the International Financial Crises Upon Emerging Economies and the Performance of Discretionary Fiscal Policies: The Case of Argentina |
| title_sort | impact of the international financial crises upon emerging economies and the performance of discretionary fiscal policies the case of argentina |
| topic | international financial crises discretionary fiscal policies Argentina H30 crisis financiera international política fiscal discrecional Argentina H30 |
| topic_facet | international financial crises discretionary fiscal policies Argentina H30 crisis financiera international política fiscal discrecional Argentina H30 |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/4106 |
| work_keys_str_mv | AT rezkernesto theimpactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina AT lafitginette theimpactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina AT riccavanina theimpactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina AT rezkernesto elimpactodelascrisisfinancierasinternacionalesenlaseconomiasemergentesyeldesempenodelaspoliticasfiscalesdiscrecionaleselcasodeargentina AT lafitginette elimpactodelascrisisfinancierasinternacionalesenlaseconomiasemergentesyeldesempenodelaspoliticasfiscalesdiscrecionaleselcasodeargentina AT riccavanina elimpactodelascrisisfinancierasinternacionalesenlaseconomiasemergentesyeldesempenodelaspoliticasfiscalesdiscrecionaleselcasodeargentina AT rezkernesto impactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina AT lafitginette impactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina AT riccavanina impactoftheinternationalfinancialcrisesuponemergingeconomiesandtheperformanceofdiscretionaryfiscalpoliciesthecaseofargentina |