Fiscal Adjustments in Transition Economies PDF Download
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Author: Barbara Fakin
Publisher: World Bank Publications
ISBN:
Category : Ajuste estructural
Languages : en
Pages : 38
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Book Description
Author: Barbara Fakin
Publisher: World Bank Publications
ISBN:
Category : Ajuste estructural
Languages : en
Pages : 38
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Book Description
Author: MissCatriona Purfield
Publisher: International Monetary Fund
ISBN: 1451845472
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
In the 1990s, transition countries underwent large adjustments to address fiscal imbalances. This paper examines whether the factors identified in the literature on advanced economies, the size and composition of adjustment, are important in transition economies. It finds that larger consolidations were more successful in addressing fiscal imbalances on a durable basis. Policies focusing on expenditure reductions were more successful than those relying on revenue increases. There is little evidence of expansionary fiscal contractions, but fiscal contractions did not have a significantly negative impact on growth either. Few fiscal stimuli succeeded in boosting growth.
Author: Ms.Sharmini Coorey
Publisher: International Monetary Fund
ISBN: 1451930062
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author: Ian Jeffries
Publisher: Routledge
ISBN: 1134776896
Category : Business & Economics
Languages : en
Pages : 878
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Book Description
This volume provides an in-depth review of major economic developments in those economies which are in some stage of transition, following the collapse of communism in the Eastern block. The book is divided into four parts: * theoretical issues in the transition from command to market economies * the events in the fifteeen independent countries of the former Soviet Union * Eastern Europe * non-European states In all, the author chronicles events from 1993 to 1995 in thirty-five countries. Economic developments are set in their political context and presented chronologically as far as possible. A Guide to the Economies in Transition carries on where Ian Jeffries' previous book left off. The work is entirely new and, as such, can be seen as a companion to the earlier title. These books are becoming known as invaluable guides, providing unique levels of reference in work of this type.
Author: Richard Hemming
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author: Marek Dabrowski
Publisher: Central European University Press
ISBN: 963386562X
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
The authors of this outstanding scholarly work analyze the dynamics of disinflation in transition economies in Central and Eastern Europe. The volume covers all the key factors of this process: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal status of central banks; monetary policy strategy; changes in relative prices and changes in nominal and real wages. The book contains 13 chapters related to various aspects of disinflation and covering different sets of transition countries depending on their relevance to the analyzed topic and data availability.
Author: Mr.James Daniel
Publisher: International Monetary Fund
ISBN: 9781589065130
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.
Author: International Monetary Fund. Independent Evaluation Office
Publisher: International Monetary Fund
ISBN: 1589062744
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
Using a cross-country sample of 169 IMF-supported programs and detailed studies of 15 programs, this evaluation report examines various aspects of fiscal adjustment in IMF-supported programs. It presents evidence that does not support some critics’ view that IMF-supported programs typically adopt a one-size-fits-all approach to fiscal adjustment, nor the perception that programs always involve austerity by targeting reductions in public spending. The report also proposes a number of recommendations for IMF surveillance and program design in the future.
Author: Mr.George Kopits
Publisher: International Monetary Fund
ISBN: 9781557757043
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.
