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• W2486644975 abstract "Abstract The main objective of the Ministry of Finance (MOF) from the emergence of the fiscal crisis in 1975 onwards was to reduce the fiscal deficit on the General Account Budget and, in the longer term, to eliminate it, as well as restore the balanced-budget characteristics that prevailed in the high-growth era. This chapter assesses the MOF's claim to have made substantial progress towards the achievement of that aim by the end of the 1980s, until the onset of economic recession in the early 1990s first slowed then halted that progress, and ultimately reversed it as the economic imperatives triggered more public spending, higher levels of government borrowing, and tax cuts and concessions. It analyses and assesses the effects and effectiveness of the policies that the MOF initiated, and attempted to implement, under the broad banners of fiscal reconstruction and fiscal consolidation in the 1980s and early 1990s, and the counter-cyclical expansionary policies that succeeded them in the recessionary conditions that prevailed for most of the remainder of the decade." @default.
• W2486644975 created "2016-08-23" @default.
• W2486644975 creator A5042913952 @default.
• W2486644975 date "2002-04-04" @default.
• W2486644975 modified "2023-10-18" @default.
• W2486644975 title "Fiscal Reconstruction: ‘Smoke and Mirrors’" @default.
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• W2486644975 doi "https://doi.org/10.1093/acprof:oso/9780199250530.003.0025" @default.
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