UID:
almafu_9958074017302883
Format:
1 online resource (23 p.)
Edition:
1st ed.
ISBN:
9786613824400
,
9781462357833
,
1462357830
,
9781452724881
,
1452724881
,
9781283511957
,
1283511959
,
9781451913026
,
1451913028
Series Statement:
IMF Working Papers
Content:
The Government of Algeria has pursed a relatively expansionary fiscal policy in recent years, thanks to rising oil prices and revenues. The paper explores the potential effects of such a stance on real exchange rate and uncovers a relatively small appreciating effect of increased government capital expenditure. This is explained by the fact that a significant share of capital spending falls into tradable imported goods. However, the envisaged increase in capital spending, if well designed and implemented, might in the long-run translate into rising operations and maintenance expenditure-mostly nontradable goods-thereby causing a higher real appreciation. This implies that Algeria should carefully consider the implications of its public investment program on recurrent expenditure.
Note:
Description based upon print version of record.
,
Contents; I. Introduction; II. Fiscal Policy Stance in Algeria; Figures; 1. Public Expenditure and Oil Prices, 1970-2005; III. Fiscal policy and the Real Exchange Rate in Algeria; A. Analytical Framework; 2. Composition of Government Expenditure,1970-2005; B. Empirical Model Specification; C. Data, Estimation, and Results; Tables; 1. Unit-Root Tests; 2a. Trace Statistics for Cointegrating Rank; 2b. Max-Eigen Statistics for Cointegrating Rank; 3. ECM Parameter Estimates; IV. Conclusion and Policy recommendations; 3. Imports and Government Expenditures, 1995-2005; References; Appendixes
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1. Theoretical Model2. Data; 3. Econometric Results
,
English
Additional Edition:
ISBN 9781451868494
Additional Edition:
ISBN 1451868499
Language:
English
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