By definition, fiscal dominance impedes the effective implementation of any monetary strategy aimed at controlling inflation. Economies that exhibit oil dominance - a situation in which oil exports largely affect the main macroeconomic indicators - may also exhibit fiscal dominance. However, in...

This report assesses the role of fiscal rules for countercyclical economic management in Kazakhstan and simulates the behavior of different types of fiscal rules. The work represents technical assistance to the ministry of economy and budget planning and has been financed by the joint economic...