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وصف كتب مصر
Fiscal policy in Latin America has been guided primarily by short-term
liquidity targets whose observance was taken as the main exponent of fiscal
prudence, with attention focused almost exclusively on the levels of public
debt and the cash deficit. Very little attention was paid to the effects of
fiscal policy on growth and on macroeconomic volatility over the cycle.
Important issues such as the composition of public expenditures (and its
effects on growth), the ability of fiscal policy to stabilize cyclical
fluctuations, and the currency composition of public debt were largely
neglected. As a result, fiscal policy has often amplified cyclical volatility
and dampened growth. Fiscal Policy, Stabilization, and Growth explores the
conduct of fiscal policy in Latin America and its consequences for
macroeconomic stability and long-term growth. In particular, the book
highlights the procyclical and anti-investment biases embedded in the region's
fiscal policies, explores their causes and macroeconomic consequences, and
asesses their possible solutions.