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Author: Blanca Moreno-Dodson
Publisher: World Bank Publications
ISBN: 0821396315
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.
Author: Blanca Moreno-Dodson
Publisher: World Bank Publications
ISBN: 0821396315
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.
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: Vitor Gaspar
Publisher: International Monetary Fund
ISBN: 1475547900
Category : Business & Economics
Languages : en
Pages : 548
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Book Description
Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.
Author: Guillermo E. Perry
Publisher: World Bank Publications
ISBN: 0821370855
Category : Business & Economics
Languages : en
Pages : 354
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Book Description
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Author: Miria A. Pigato
Publisher: World Bank Publications
ISBN: 9781464813580
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable in developing countries, where they can reduce emissions, increase domestic revenues, and generate positive welfare effects such as cleaner water, safer roads, and improvements in human health. Moreover, these reforms need not harm competitiveness. New empirical evidence from Indonesia and Mexico suggests that under certain conditions, raising fuel prices can actually increase firm productivity. Finally, the report discusses the role of fiscal policy in strengthening resilience to climate change. It provides evidence that preventive public investments and measures to build fiscal buffers can help safeguard stability and growth in the face of rising climate risks. In this way, environmental tax reforms and climate risk-management strategies can lay the much-needed fiscal foundation for development and climate action.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1498335160
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Author: Dean T. Jamison
Publisher: World Bank Publications
ISBN: 0821361805
Category : Medical
Languages : en
Pages : 1449
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Book Description
Based on careful analysis of burden of disease and the costs ofinterventions, this second edition of 'Disease Control Priorities in Developing Countries, 2nd edition' highlights achievable priorities; measures progresstoward providing efficient, equitable care; promotes cost-effectiveinterventions to targeted populations; and encourages integrated effortsto optimize health. Nearly 500 experts - scientists, epidemiologists, health economists,academicians, and public health practitioners - from around the worldcontributed to the data sources and methodologies, and identifiedchallenges and priorities, resulting in this integrated, comprehensivereference volume on the state of health in developing countries.
Author: Mr.Olivier J. Blanchard
Publisher: International Monetary Fund
ISBN: 1475576447
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong, both statistically and economically, early in the crisis. A natural interpretation is that fiscal multipliers were substantially higher than implicitly assumed by forecasters. The weaker relation in more recent years may reflect in part learning by forecasters and in part smaller multipliers than in the early years of the crisis.
Author: Jacob A. Frenkel
Publisher: MIT Press
ISBN: 9780262561044
Category : Business & Economics
Languages : en
Pages : 668
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Book Description
Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.
