Fiscal policy for growth and development by Milan Brahmbhatt and Otaviano Canuto published by World Bank (10/2012). “This note focuses on that potencial and provides an overview of how fiscal positions in developing countries have evolved in the wake of the crisis, as well as some emerging policy lessons… An additional key lesson is the importance of maintaining a prudent, sustainable fiscal stance over the medium term, particularly the need to build up fiscal space during good times to have resources available during a crisis.”
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