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Fiscal crises in the developing world: Zooming out and zooming in on Brazil's public finance history

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  • Cantu, Rogrigo

Abstract

Fiscal crises are a central theme in the recent history of many emerging economies, as they are more vulnerable to budget distress than developed countries. From 1970 to 2015, emerging markets experienced more than twice as many fiscal crises as their wealthier counterparts (Gerling et al. 2017, 13). Of the scholarship dedicated to understanding this theme, mainstream economics has made commendable efforts. [...] Sociology can offer fresh and more comprehensive perspectives on fiscal crises. What are their causes and consequences, not just from an economic standpoint but also from a sociopolitical one?

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  • Cantu, Rogrigo, 2024. "Fiscal crises in the developing world: Zooming out and zooming in on Brazil's public finance history," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 25(3), pages 22-29.
    • Handle: RePEc:zbw:econso:300734
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    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    3. John Y. Campbell & Robert J. Shiller, 1996. "A Scorecard for Indexed Government Debt," NBER Chapters, in: NBER Macroeconomics Annual 1996, Volume 11, pages 155-208, National Bureau of Economic Research, Inc.
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