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WP 085: Macroeconomic Effects of Fiscal Policies: Empirical Evidence from Bangladesh, People's Republic of China, Indonesia and Philippines

This paper studies macroeconomic effects of fi scal policies in four Asian countries—Bangladesh, People’s Republic of China, Indonesia, and Philippines—by means of structural macroeconometric model simulations. It is found that shortterm fi scal multipliers from an untargeted increase in government expenditure are positive but much less than those from an increased expenditure targeted to capital spending. The multiplier effects from fi scal expansion via a tax rate reduction are found to be typically much less than through higher spending. The effectiveness of automatic stabilizers in general, and more specifi cally, the effectiveness of expenditure versus tax-side stabilizers, differs across countries.

Asian Development Bank
Authors Keywords
ADB; tax rates level;
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Published in 2006 and available in the ADB Website or Downloaded 11,063 times since November 25, 2011
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