A Cross-Country Database of Fiscal Space

The World Bank’s Prospects Group has constructed a comprehensive cross-country database of fiscal space. The database covers 202 countries over the period 1990-2022, and includes 29 indicators of fiscal space grouped into four categories:Government debt sustainabilityBalance sheet compositionExternal and private sector debtMarket accessThe published article, written by M. Ayhan Kose, Sergio Kurlat, Franziska Ohnsorge, and Naotaka Sugawara, provides detailed information on the database and shows potential applications of the database by analyzing developments over time and during a wide range of adverse events, including financial crises, recessions, natural disasters, and wars. The working paper, originally prepared in 2017, also presents additional information and analysis related to the database.