Front Cover -- Contents -- Preface -- Acknowledgments -- About the Authors -- Abbreviations -- Overview -- Setting the Scene -- Fiscal Rules and Economic Size -- Small Countries: Structural Features, Business Cycles, and Recent Economic Performance -- A Snapshot of Fiscal Rules -- Fiscal Rules...

Following the collapse of commodity prices in Latin America and the Caribbean (LAC) in 2014-15, many countries in the region were unable to cushion the impact of the shock in order to experience a more gradual adjustment, to a large extent because they had not built adequate fiscal buffers...