世界银行-全球危机中财政规则的主权利差压缩效应（英）-2024.3.pdf

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DevelopmentEconomicsAverifiedreproducibilitypackageforthispaperis

DevelopmentResearchGroupavailableat,

March2024clickherefordirectaccess.

PolicyResearchWorkingPaper10741

Abstract

Dofiscalruleshelpsuppresssovereignspreadsduringindicatinganexpectationofpost-crisiscompliance.The

periodsofglobalfinancialstress?Yes!Thispaperexam-studyshowsthatdeviationsfromfiscalrulesaretypically

ineswhetherfiscalrulescontributetomitigatingsovereignshort-lived,withfiscalbalancerulesreinstatedwithin3.5

spreadsinemergingmarketsanddevelopingeconomiesyears.Robustness