The Fiscal Dimensions of Adjustment in Low-income Countries PDF Download
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Author: Karim A. Nashashibi
Publisher:
ISBN: 9781557752291
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
A strengthened fiscal position is at the core of most economic adjustment programs supported by IMF lending, especially for the poorer countries that draw on the IMF's structural adjustment facilities. This paper reviews developments in 23 countries and evaluates their experience with fiscal and structural adjustment, including their efforts to design social safety nets to cushion the effects of adjustment.
Author: Karim A. Nashashibi
Publisher:
ISBN: 9781557752291
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
A strengthened fiscal position is at the core of most economic adjustment programs supported by IMF lending, especially for the poorer countries that draw on the IMF's structural adjustment facilities. This paper reviews developments in 23 countries and evaluates their experience with fiscal and structural adjustment, including their efforts to design social safety nets to cushion the effects of adjustment.
Author: David Woodward
Publisher:
ISBN:
Category : Debts, External
Languages : en
Pages : 352
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Book Description
Author: Jaime de Melo
Publisher: Springer
ISBN: 1349227900
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
The book deals with aspects of the recent fiscal crisis in developing countries. Macro aspects cover theoretical underpinning of fiscal policy, the size of the required adjustment and the link between internal and external transfers. Micro aspects cover the relation between private and public investment, the experience of tax and expenditure reforms, and the impact of fiscal adjustment on the poor.
Author: Anne Maasland
Publisher: World Bank Publications
ISBN: 6092921375
Category : Ajuste economico
Languages : en
Pages : 42
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Book Description
There are a variety of approaches, and country issues and data availability will determine the most practical approach.
Author: Pierre-Richard Agénor
Publisher: La Editorial, UPR
ISBN: 9780674015784
Category : Business & Economics
Languages : en
Pages : 794
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Book Description
This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries. The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.
Author: Blanca Moreno-Dodson
Publisher: World Bank Publications
ISBN: 0821396307
Category : Business & Economics
Languages : en
Pages : 286
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Book Description
Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.
Author: Susan Schadler
Publisher:
ISBN: 9781557753366
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
This paper evaluates progress made under ESAF-supported programs in attaining external viability, restoring economic growth, and implementing structural reforms. Performance is evaluated for 19 countries that entered ESAF arrangements by mid-1992, against the background of their initial conditions, external environment, and implementation of structural and macroeconomic policies.
Author: Hugh Bredenkamp
Publisher: International Monetary Fund
ISBN: 1455264830
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
The Enhanced Structural Adjustment Facility (ESAF) is the cenerpiece of the International Monetary Fund's strategy to provide assistance on concessional terms to low-income member countries that are undertaking important macroeconomic adjustment and stuctural reforms. By February 1999, a total of SDR 7 billion (about US$9 billion) had been distributed under 79 ESAF arrangements to 51 developing countries. Edited by Hugh Bredenkamp and Susan Schadler, this volume features internal IMF staff assessments of the ESAF and provides an historical account of policies implemented and outcomes achieved under ESAF- supported programs.
Author: François Bourguignon
Publisher: World Bank Publications
ISBN:
Category : Cost and standard of living
Languages : en
Pages : 59
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Book Description
Adjustment programs will fail when they do not recognize the interdependence of the three criteria of efficiency, welfare, and political feasibility. These programs must be tailored to both the political and economic environments of each country.
Author: Ms.Wenyi Shen
Publisher: International Monetary Fund
ISBN: 1513521349
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations, that some of the prevalent features of LICs—different types of financing including aid, the marginal efficiency of public investment, and the degree of home bias—play a key role in determining the effects of fiscal policy and related multipliers in these countries. External financing like aid increases the resource envelope of the economy, mitigating the private sector crowding out effects of government spending and pushing up the output multiplier. The same external financing, however, tends to appreciate the real exchange rate and as a result, traded output can respond quite negatively, reducing the overall output multiplier. Although capital scarcity implies high returns to public capital in LICs, declines in public investment efficiency can substantially dampen the output multiplier. Since LICs often import substantial amounts of goods, public investment may not be as effective in stimulating domestic production in the short run.
