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关注:1 2013-05-23 12:21

求翻译:This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary balance - and correcting for reverse causality between non-oil output and fiscal variables, the results suggest that all of the five fiscal variables are strongly procyclical in the full sample. Also, the results are not uniform across income groups: expenditure is procyclical in the low and middle-income countries, while it is countercyclical in the high-income countries. Fiscal policy tends to be affected by the external financing constraints in the middle- and high-income groups. However, the quality of institutions and political structure appear to be more significant for the low-income group.是什么意思?

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This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary balance - and correcting for reverse causality between non-oil output and fiscal variables, the results suggest that all of the five fiscal variables are strongly procyclical in the full sample. Also, the results are not uniform across income groups: expenditure is procyclical in the low and middle-income countries, while it is countercyclical in the high-income countries. Fiscal policy tends to be affected by the external financing constraints in the middle- and high-income groups. However, the quality of institutions and political structure appear to be more significant for the low-income group.
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  • 匿名
2013-05-23 12:26:38
本文介绍的财政行为 28 1990年-2009 年期间发展产油国 (OPCs) 的周期性。后测试五财政刺激措施-政府开支、 消费、 投资、 非石油收入和非石油主平衡-和纠正的反向因果关系非石油输出和财政的变量,结果表明五财政变量都强烈大家的完整示例。此外,结果不是均匀跨阶层: 开支为大家在低收入和中等收入国家,而在高收入国家中是反周期。财政政策往往会受到高收入群体中的外部融资约束。然而,机构和政治结构的质量似乎是低收入群体影响更大。
 
 
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