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Author: Yves Mathurin Tehou Tekeng
Publisher:
ISBN:
Category :
Languages : en
Pages : 114
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Book Description
This thesis has addressed the issue of fiscal transparency for developing countries in three essays. The first essay provided an overview of the existing literature on fiscal transparency and related questions, focusing on different angles and measurement methodologies involved. Our review was structured around four principal axes that include the determinants of fiscal transparency; the links between fiscal transparency and some selected institutional factors relating to international capital markets, and fiscal discipline, corruption, and economic growth. One of the major shortcomings discovered in the literature is the lack of exclusive attention devoted to developing countries on this important issue of fiscal transparency and how this could affect their growth potential. The second essay proposed a new, replicable and more objective index of fiscal transparency based on criteria of developing countries as used by the World Bank in 2009. We also provided an analysis of the determinants of fiscal transparency based on information from 27 developing countries, taking into account a number of institutional and socio-economic determinants of fiscal transparency. For example, we examined the impacts of natural resources (wealth), quality of institution, openness on the above-mentioned index of fiscal transparency by the means of OLS and Two-Stage Least Square methods. Our empirical findings indicated that the performance of our proposed index appeared to be consistent with other existing indices. The third essay presented an analysis of some potential consequences of fiscal transparency for developing countries. More specifically, based on the availability of data across the 27 countries of the sample, it was found that fiscal transparency can have some impact on the structure of government spending, education and health outcomes, attraction of international capital, but not economic growth.
Author: Yves Mathurin Tehou Tekeng
Publisher:
ISBN:
Category :
Languages : en
Pages : 114
Get Book Here
Book Description
This thesis has addressed the issue of fiscal transparency for developing countries in three essays. The first essay provided an overview of the existing literature on fiscal transparency and related questions, focusing on different angles and measurement methodologies involved. Our review was structured around four principal axes that include the determinants of fiscal transparency; the links between fiscal transparency and some selected institutional factors relating to international capital markets, and fiscal discipline, corruption, and economic growth. One of the major shortcomings discovered in the literature is the lack of exclusive attention devoted to developing countries on this important issue of fiscal transparency and how this could affect their growth potential. The second essay proposed a new, replicable and more objective index of fiscal transparency based on criteria of developing countries as used by the World Bank in 2009. We also provided an analysis of the determinants of fiscal transparency based on information from 27 developing countries, taking into account a number of institutional and socio-economic determinants of fiscal transparency. For example, we examined the impacts of natural resources (wealth), quality of institution, openness on the above-mentioned index of fiscal transparency by the means of OLS and Two-Stage Least Square methods. Our empirical findings indicated that the performance of our proposed index appeared to be consistent with other existing indices. The third essay presented an analysis of some potential consequences of fiscal transparency for developing countries. More specifically, based on the availability of data across the 27 countries of the sample, it was found that fiscal transparency can have some impact on the structure of government spending, education and health outcomes, attraction of international capital, but not economic growth.
Author: Yves Tehou T.
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
Author: Mr.J. D. Craig
Publisher: International Monetary Fund
ISBN: 155775697X
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Author: Laurent Kemoe
Publisher: International Monetary Fund
ISBN: 1484373839
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
This paper explores the effects of fiscal transparency on the borrowing costs of 33 emerging and developing economies (EMs), and on foreign demand for their sovereign debt. Using multiple indicators, including a constructed one based on the published data in the IMF’s Government Finance Statistics Yearbook, we measure the separate effects of the three dimensions of fiscal transparency: openness of the budget process, fiscal data transparency, and accountability of fiscal actors. The results suggest that higher fiscal transparency reduces sovereign interest rate spreads and increases foreign holdings of sovereign debt, with each dimension of fiscal transparency playing a different role. Availability of detailed cross-country comparable fiscal data, especially for balance sheet items, has shown to increase foreign investors’ willingness in holding EM sovereign debt.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464807744
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
Governments fail to provide the public goods needed for development when its leaders knowingly and deliberately ignore sound technical advice or are unable to follow it, despite the best of intentions, because of political constraints. This report focuses on two forces—citizen engagement and transparency—that hold the key to solving government failures by shaping how political markets function. Citizens are not only queueing at voting booths, but are also taking to the streets and using diverse media to pressure, sanction and select the leaders who wield power within government, including by entering as contenders for leadership. This political engagement can function in highly nuanced ways within the same formal institutional context and across the political spectrum, from autocracies to democracies. Unhealthy political engagement, when leaders are selected and sanctioned on the basis of their provision of private benefits rather than public goods, gives rise to government failures. The solutions to these failures lie in fostering healthy political engagement within any institutional context, and not in circumventing or suppressing it. Transparency, which is citizen access to publicly available information about the actions of those in government, and the consequences of these actions, can play a crucial role by nourishing political engagement.
Author: Sanjeev Khagram
Publisher: Brookings Institution Press
ISBN: 0815723377
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Explicates political economy factors that have brought about greater transparency and participation in budget settings across Asia, Africa, and Latin America. This title presents the strategies, policies, and institutions through which improvements can occur and produce change in policy and institutional outcomes.
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
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Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
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: 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: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
