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: de Alain Crombrugghe
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
July 1997 Social security contributions and outlays in the economies of Central Europe do not differ much from those in the OECD countries, so experience in the OECD countries is relevant to them. The main problem: Loose eligibility criteria that allow too much pension money to go to early retirees. Despite a dramatic shift away from subsidies in the early years of transition, the countries of Central Europe still show signs of unsuccessful fiscal adjustment, insufficient deficit reduction, and loose spending policy. High social transfers and low efficiency of government spending remain two challenges of fiscal adjustment and long-term sustainability of budgetary policy choices. A cross-country regression analysis shows that the problems with high social-security outlays are largely the result of loose eligibility criteria (many pensions go to early retirees) under current state pay-as-you-go pension systems- not so much to old populations or high replacement rates. Fakin and de Crombrugghe suggest that transition economies should strive for a real social consensus on the reform of future pension rights. The transition to a funded pension system could be financed by a combination of: * Government debt. * Proceeds from privatization. * Efficiency gains from lowering and/or restructuring government spending in favor of infrastructure, retraining, and market-oriented tertiary education. This paper-a joint product of the Office of the Senior Vice President, Development Economics and Chief Economist, and Research Support Staff-is part of Fiscal Reform in Poland (RPO 678-96), a study funded by the Bank's Research Support Budget.
Author: Barbara Fakin
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
Social security contributions and outlays in the economies of Central Europe do not differ much from those in the OECD countries, so experience in the OECD countries is relevant to them. The main problem: Loose eligibility criteria that allow too much pension money to go to early retirees. Despite a dramatic shift away from subsidies in the early years of transition, the countries of Central Europe still show signs of unsuccessful fiscal adjustment, insufficient deficit reduction, and loose spending policy. High social transfers and low efficiency of government spending remain two challenges of fiscal adjustment and long-term sustainability of budgetary policy choices. A cross-country regression analysis shows that the problems with high social-security outlays are largely the result of loose eligibility criteria (many pensions go to early retirees) under current state pay-as-you-go pension systems- not so much to old populations or high replacement rates. Fakin and de Crombrugghe suggest that transition economies should strive for a real social consensus on the reform of future pension rights. The transition to a funded pension system could be financed by a combination of: Government debt. Proceeds from privatization. Efficiency gains from lowering and/or restructuring government spending in favor of infrastructure, retraining, and market-oriented tertiary education. This paper - a joint product of the Office of the Senior Vice President, Development Economics and Chief Economist, and Research Support Staff - is part of Fiscal Reform in Poland (RPO 678-96), a study funded by the Bank's Research Support Budget.
Author: Richard Miller Bird
Publisher: World Bank Publications
ISBN:
Category : Decentralization in government
Languages : en
Pages : 92
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Book Description
Designing a well-functioning intergovernmenal fiscal system is essential to the success of all the transitional economies' major reform goals: privatization, macroeconomic stability, more efficient performance and economic growth, and an adequate social safety net.
Author: Asad Alam
Publisher:
ISBN:
Category : Ajuste fiscal
Languages : en
Pages : 40
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1557755418
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, particularly as the competition for limited public resources intensifies.By providing a framework for defining and analyzing public expenditureproductivity and unproductive expenditures, this pamphlet discusseshow economic policymakers may approach these issues.
Author: Mr.Vito Tanzi
Publisher: International Monetary Fund
ISBN: 9781557752758
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
The IMF has been a major participant in the challenge of transforming many African, Asian, and European countries from centrally planned to market economies. The authors of this book, mainly staff members of the IMF, have distilled their firsthand experience with fiscal reform in transition economies into 15 case studies of these countries. In doing so they analyze issues of privatization, fiscal federalism, social safety nets, and the net worth of the Soviet Union. The editor of the volume is Vito Tanzi, Director of the IMF's Fiscal Affairs Department.
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: Mr.Vito Tanzi
Publisher: International Monetary Fund
ISBN: 1451921209
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
This paper discusses major fiscal issues faced by the previously centrally planned economies in their transition to market economies. It focuses on three main topics: (a) the extent to which the budget deficit should be a guide to policy; (b) the reforms that must be carried out in tax legislation and tax administration; and (c) the required changes in public expenditure and in the setting up of institutions to manage public spending.
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.
