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Date : Jan 22, 2014
References

Akitoby, Bernardin, Benedict Clements, Sanjeev Gupta and Gabriela Inchauste (2004), “The Cyclical and Long-term Behaviour of Government Expenditures in Developing Countries”, IMF Working Paper, WP/04/202, International Monetary Fund, October.

Arena, Marco and Julio E. Revilla (2009), “Procyclical Fiscal Policy in Brazil - Evidence from the States”, Policy Research Working Paper series No. 5144, The World Bank, December.

Balassone, F. and M. Kumar (2007), “Cyclicality of Fiscal Policy”, Promoting Fiscal Discipline, IMF.

Darby, Julia, and Jacques Melitz, (2008), “Social spending and automatic stabilizers in the OECD,” Economic Policy, October: 715–56.

Dev, S Mahendra (2003), “Agriculture, employment & social sector neglected”, Economic and Political Weekly, 5 April: 1353-56.

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Granado Javier, Arze Del, Sanjeev Gupta and Alejandro Hajdenberg (2013), “Is Social Spending Procyclical? Evidence for Developing Countries”, IMF, World Development Report, Vol. 42: 16–27.

Granado Javier, Sanjeev Gupta and Alejandro Hajdenberg (2010), “Is social spending procyclical?”, IMF WP 10/234, October.

Gutierrez, Mario and Julio E. Revilla (2010), “Building Countercyclical Fiscal Policies in Latin America: The International Experience”, Policy Research Working Paper 5211, The World Bank, February.

Hadri, K. (2000), “Testing for Stationarity in Heterogeneous Panel Data”, Econometrics Journal, Vol. 3, No. 2.

Halland, Havard and Michael Bleaney (2011), “Explaining the Pro-cyclicality of Fiscal Policy in Developing Countries”, CREDIT Research Paper No. 11/09.

Im, K., M. Pesaran and Y. Shin (2003), “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol. 115, No. 1.

Joshi, Seema (2006), “Impact of economic reforms on social sector expenditure in India”, Economic and Political weekly, 28 January.

Kaminsky, Graciela L., Carmen M. Reinhart and Carlos A. Végh (2004), “When it Rains, it Pours: Pro-cyclical Capital Flows and Macroeconomic Policies”, NBER Working Paper No. 10780.

Kaur, Balbir, Atri Mukherjee, Neeraj Kumar and Anand Prakash Ekka (2013), “Debt Sustainability at the State Level in India”, forthcoming Working Paper of the Reserve Bank of India.

Kaur, Balbir and M. Sangita (2003), “Social sector expenditure and attainments: An analysis of Indian states”, Reserve Bank of India occasional papers, Vol. 24, Nos 1 & 2.

Khemani, S. (2000), “Political Cycles in a Developing Economy.” Policy Research Paper 2454, The World Bank.

Lane, Philip R. (2002), “The cyclical behaviour of fiscal policy: evidence from the OECD”, Journal of Public Economics, Vol. 87, No. 12.

Levin, A., C. F. Lin and C. S. Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, Journal of Econometrics, Vol. 108, No. 1.

Maddala, G. and S. Wu (1999), “A Comparative Study of Unit Root Tests and a New Simple Test”, Oxford Bulletin of Economics and Statistics, Vol. 61, No. 1.

Mukherjee, Atri (2013), “Cyclicality of Fiscal Policy in India”, Paper presented at a workshop on Fiscal Policy and Macroeconomic Imbalances, organized by the Bank d’ Italia at Perugia on 4-6 April.

Rodden, Jonathan and Erik Wibbels (2010), “Fiscal Decentralization and The Business Cycle: An Empirical Study of Seven Federations” , Economics and Politics, Vol. 22, Issue 1: 37-67.

Reserve Bank of India (2013), Report on Currency and Finance 2009-12: Fiscal-Monetary Coordination, Chapter III.

Reserve Bank of India (2013), “Cyclicality of Fiscal Policy: The Indian Experience”, Annual Report, 2012-13.

Sturzenegger, Fredrico and Rogerio L.F.Werneck (2006), “Fiscal Federalism and Pro-cyclical spending: The cases of Argentina and Brazil”, Economica La Plata, Volume LII, No. 1-2.

Talvi, Ernesto and Carlos Végh (2005), “Tax base variability and pro-cyclical fiscal policy”, Journal of Economic Development, Vol. 78, No. 1.

Woo, Jaejong (2009), “Why Do More Polarized Countries Run More Pro-cyclical Fiscal Policy?”, The Review of Economics and Statistics, Vol. 91, No. 4.


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