A cross-country database of fiscal space

This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability budgetary resources for government to service its financial obligations. The covers up 202 countries over period 1990–2020, and includes 30 indicators space grouped into four categories: debt sustainability, balance sheet vulnerability, external private sector debt-related risks potential causes contingent liabilities, market access. Using database, paper, first, documents weakening in 1990s, broad-based improvement first decade 2000s, synchronized deterioration subsequent heading global recession 2020. Second, it analyzes behavior during wide range adverse events, including banking crises, natural disasters, wars. results show that some these events coincide with lasting whereas others tend have at most short-lived consequences space.