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Author: Jayati Datta Mitra
Publisher: World Bank Publications
ISBN: 9780821339657
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
This study analyzes the World Bank's experience with fiscal management in 250 adjustment operations in 86 countries. It examines the fiscal records in a sample of 26 countries grouped by region, portfolio characteristics, and economic traits. The study confirms that fiscal deficit reduction is associated with improved external balances and economic growth and that it takes sustained, long-term effort, and continual vigilance against reversals. Fiscal mismanagement, not exogenous shocks, was the principal cause of persistent budget deficits. The study offers the following recommendations for the Bank and its borrowers:1) Estimate the level of the sustainable deficit and provide guidelines for achieving it in Bank economic and sector work and adjustment lending. 2) Improve sequencing of tax reform. 3) Consider explicitly the role of the state and the appropriate mix of public/private provision of services in recommending public expenditure reform. 4) Include poverty alleviation and equity objectives in public expenditure reform. 5) Build adequate monitoring and performance indicators for both tax and expenditure reforms. 6) Enhance Bank-Fund coordination, in support of the Fund's lead role in giving fiscal advice, by strengthening the Bank's ability to analyze taxes and expenditures.
Author: Jayati Datta Mitra
Publisher: World Bank Publications
ISBN: 9780821339657
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
This study analyzes the World Bank's experience with fiscal management in 250 adjustment operations in 86 countries. It examines the fiscal records in a sample of 26 countries grouped by region, portfolio characteristics, and economic traits. The study confirms that fiscal deficit reduction is associated with improved external balances and economic growth and that it takes sustained, long-term effort, and continual vigilance against reversals. Fiscal mismanagement, not exogenous shocks, was the principal cause of persistent budget deficits. The study offers the following recommendations for the Bank and its borrowers:1) Estimate the level of the sustainable deficit and provide guidelines for achieving it in Bank economic and sector work and adjustment lending. 2) Improve sequencing of tax reform. 3) Consider explicitly the role of the state and the appropriate mix of public/private provision of services in recommending public expenditure reform. 4) Include poverty alleviation and equity objectives in public expenditure reform. 5) Build adequate monitoring and performance indicators for both tax and expenditure reforms. 6) Enhance Bank-Fund coordination, in support of the Fund's lead role in giving fiscal advice, by strengthening the Bank's ability to analyze taxes and expenditures.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 169
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Book Description
Author: Barbara Nunberg
Publisher: World Bank Publications
ISBN:
Category : Ajuste economico
Languages : ru
Pages : 45
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Book Description
Author: Barbara Nunberg
Publisher: World Bank Publications
ISBN:
Category : Administrative agencies
Languages : en
Pages : 54
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Book Description
Public sector management components of structural adjustment loans (SALs) progressed unevenly, and the outcomes varied with different political, administrative and economic conditions. Change was often incremental and sometimes unsustainable. Reforms linked to specific, actionable steps were more successfully implemented.
Author: Richard Allen
Publisher: World Bank Publications
ISBN: 9780821355992
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
This study compares the various instruments and approaches used by the World Bank, the European Commission, the International Monetary Fund, the Strategic Partnership for Africa and several bilateral donor agencies to assess and reform public expenditure management systems in developing and transitional countries. It identifies weaknesses in the current system and recommends a new medium-term, country-led, multidonor approach which is focused on better budgetary management supplemented by donor aid funds, as a key mechanism to reduce poverty and attain other policy goals.
Author: Mr.Jack Diamond
Publisher: International Monetary Fund
ISBN: 9781557757876
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
Author: United States. Under Secretary of Defense (Comptroller)
Publisher:
ISBN:
Category :
Languages : en
Pages : 280
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Book Description
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: World Bank. Independent Evaluation Group. Country Evaluation and Regional Relations
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 59
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Book Description
This is the Project Performance Assessment Report (PPAR) for four structural adjustment lending operations to Colombia from 2001 to 2005. The overall rating for all the four projects is rated as satisfactory in the Implementation Completion Report (ICR) rating, and also the performance of the Bank and the Borrower for all four projects is rated as satisfactory. The main lessons learned from this review are: (i) as noted in Independent Evaluation Group (IEG's) ICR Review of Fiscal and Institutional Adjustment Loan (FIAL III), project design needs to be clearly aligned with its development objectives in order to attain the latter. Even if the structural deficit of the central administration is "highly sensitive and political" as the ICR states, the magnitudes of these structural rigidities were such that they must be addressed if progress is to be made in achieving the substantial fiscal adjustment that is required for sustained macroeconomic stability; (ii) loans with large numbers of objectives and conditions, and involving too many institutions relative to the management capacity of the Government and the Bank itself, overtax the implementation capacity of both the Bank and the borrower and result in poor execution; (iii) the inclusion of objectives of widely different levels of priority and weak connection with the ultimate goals of the operations tends to obscure the degree of attainment of the latter; and (iv) success depends on the borrower's ownership of the objectives.
Author: Charles N. Henning
Publisher: McGraw-Hill Companies
ISBN:
Category : Business & Economics
Languages : en
Pages : 600
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Book Description
