Gönenç, Rauf; Leibfritz, Willi; Yilmaz, Erdal - Economics Department, Organisation de Coopération et … - 2005
Fiscal imbalances were a main cause for chronic high inflation and macroeconomic instability before the 2000/2001 crisis. Fiscal consolidation is the cornerstone of post-crisis stabilization. It has been quite successful over the past three years as sizeable primary surpluses have been sustained...