O PADRÃO DA POLÍTICA FISCAL PARA GRUPOS DE PAÍSES:  CONSENSO DA LITERATURA, TERMOS DE TROCA E NÃO LINEARIDADE.

Carlândia Brito Santos Fernandes

doi:10.4025/econrev.v30i2.57721

Carlândia Brito Santos Fernandes Universidade Estadual de Maringá

DOI: https://doi.org/10.4025/econrev.v30i2.57721

Abstract

This article investigates the pattern of fiscal policy for three groups of developed and developing countries: low income countries (LIC), upper middle income countries(MIC) and high income countries(HIC). In addition, it analyzes the relationship between fiscal policy and terms of trade. Using GMM (Generalized Method of Moments) techniques for panel data, from 1995 to 2010, the evidence indicates that the pattern of fiscal policy, both in relation to GDP and in terms of terms of trade, converge on the consensus that developing countries adopt pro-cyclical fiscal policies and developed counter-cyclical ones. In addition, there is a nonlinear relationship, in the form of an inverted U, between the budget balance and the terms of trade for high-income countries.

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