TY - BOOK ID - 84542950 TI - Riding the Roller Coaster : Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean AU - Lopez Murphy, Pablo. AU - Villafuerte, Mauricio. AU - Ossowski, Rolando. PY - 2010 SN - 1462378935 1455229482 1283563894 1455210439 9786613876348 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Nonrenewable natural resources KW - Fiscal policy KW - Finance. KW - Tax policy KW - Taxation KW - Economic policy KW - Finance, Public KW - Non-renewable natural resources KW - Exhaustible resources KW - Natural resources, Nonrenewable KW - Natural resources KW - Government policy KW - Economic aspects KW - Macroeconomics KW - Public Finance KW - Fiscal Policy KW - National Government Expenditures and Related Policies: General KW - Public finance & taxation KW - Fiscal rules KW - Fiscal stance KW - Fiscal sustainability KW - Expenditure KW - Expenditures, Public KW - Trinidad and Tobago UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542950 AB - This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees within the sample. Countries that pursued more conservative fiscal policies during the boom were then able to implement countercyclical fiscal policies during the downturn; moreover, they reduced or maintained their fiscal vulnerability to resource shocks, while their long-term fiscal sustainability positions improved or were broadly unchanged. However, these dimensions of fiscal policy did not seem to be linked to fiscal rules or resource funds, as countries with such institutions displayed a broad range of fiscal responses to the recent cycle. ER -