Título del libro: Covid-19 And Economic Development In Latin America: Theoretical Debates, Financing Dilemmas And Post-Pandemic Scenarios
Título del capítulo: Countercyclical Fiscal Policy and Fiscal Impulses: Post-Pandemic Challenges ? The Cases of Brazil and Mexico1
TERESA SANTOS LOPEZ GONZALEZ; EUFEMIA BASILIO MORALES;
Autores externos:
Idioma:
Año de publicación:
2023
Resumen:
This work analyzes, from a heterodox perspective, the effects of fiscal policy throughout the economic cycle for the case of Brazil and Mexico during the period 1980?2021. The objective of the work is two-sided. On the one hand, the effects of fiscal policy will be analyzed through the econometric method of fiscal stimulus generated in a historical period, which allows us to carry out a comparative analysis. This will depend on the availability of statistical information. On the other hand, based on this analysis, some guidelines will be identified for macroeconomic policy in general and fiscal policy in particular, which should become the main axes for the recovery of economic activity and stable and sustained growth in the countries analyzed. The general hypothesis that guides the research suggests that compliance with the fiscal policy of the macroeconomic principle of sound public finances has forced the governments of Brazil and Mexico to implement procyclical fiscal measures, such as the contraction of public spending, particularly in the stages of cyclical economic recessions, as a short-term monetary stability strategy. The first empirical results show that in both countries, the positive fiscal impulses decrease in magnitude and their trend is unstable as of the 1990s, as a result of the structural reforms that were carried out in these economies and the adoption of monetary stability as a priority objective of economic policy. This not only conditioned the response of their governments to the outbreak of the pandemic, given the vulnerability of their economies to external shocks of demand, financial and the fragility of public finances, but also, ceteris paribus, will determine the pace, sustainability and rate of economic recovery in the post-pandemic. © 2024 selection and editorial matter, Monika Meireles, Bruno De Conti and Diego Guevara.
Entidades citadas de la UNAM:
ISBN:
9781000907568
Editorial:
Taylor and Francis Nombre de la publicación:
Countercyclical Fiscal Policy and Fiscal Impulses: Post-Pandemic Challenges ? The Cases of Brazil and Mexico1
Página inicial:
108
Página final:
120
