New Index Helps Governments Design Better Escape Clauses to Bridge Fiscal Rigidity with Crisis Adaptability

January 12, 2024  

By Oscar Valencia, Carolina Ulloa Suárez and Jorge Guerra. 

In recent years, the global economic landscape has been marked by unprecedented upheavals, including the Global Financial Crisis, the disruptions caused by the COVID-19 pandemic, and, more recently, geopolitical tensions. These crises have tested the resilience of fiscal frameworks, highlighting the pressing need for greater adaptability to navigate unforeseen challenges efficiently. 

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