Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design by : Vybhavi Balasundharam

Download or read book Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design written by Vybhavi Balasundharam and published by International Monetary Fund. This book was released on 2023-03-17 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design

Success Factors in the Fiscal Consolidation Process

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Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Success Factors in the Fiscal Consolidation Process by : Marta Postuła

Download or read book Success Factors in the Fiscal Consolidation Process written by Marta Postuła and published by . This book was released on 2017 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current economic policy implemented in different countries takes account of the changing external and internal circumstances. The recent crisis (2007-2008) revealed the weakness of the established economic theories, also as regards fiscal policy. Consequently, a great number of countries all over the world saw problems with the growing public finance deficit and the level of public debt. To address it, consolidation measures were taken, aimed to stop this tendency and to gradually go back to the fiscal balance. In this context it is important to identify factors that contribute to the success of the consolidation process undertaken. The article identifies these variables, using a specially built logit econometric model with data from the last 20 years. It also indicates a lack of correlation between achieving a consolidation success and the consolidation method chosen i.e. whether tax policy or expense policy is used for consolidation.

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Author :
Publisher : Oxford University Press
ISBN 13 : 0192674226
Total Pages : 801 pages
Book Rating : 4.1/5 (926 download)

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Book Synopsis by :

Download or read book written by and published by Oxford University Press. This book was released on with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fiscal Consolidation in Belgium

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Fiscal Consolidation in Belgium by : Yu Ching Wong

Download or read book Fiscal Consolidation in Belgium written by Yu Ching Wong and published by International Monetary Fund. This book was released on 2023-12-19 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium is facing higher structural deficits and rising debt after the pandemic and energy crisis. Fiscal consolidation is needed to lower inflation, rebuild buffers, reduce debt, and preserve Belgium’s social contract. While designing an appropriate fiscal consolidation path involves trade-offs, an ideally front-loaded and significant adjustment to achieve a medium-term structural balance would reduce public debt towards the 60 percent debt threshold, significantly reducing vulnerabilities. Experiences in other countries and in the past in Belgium show that while ambitious, such an adjustment is achievable. Comparisons with peers show that rationalizing and increasing the efficiency of social benefits and the public wage bill would need to be at the core of the consolidation effort. All federal entities should share the burden of the adjustment, in a coordinated manner, with accountability at all levels of government, and within a credible and clear multi-year consolidation plan. Comprehensive spending reviews would help target budgetary saving. To mitigate the growth impact in the near term and boost potential growth, public investment should be preserved, and the adjustment should go together with structural reforms to increase labor force participation and productivity.

Economic Recovery, Consolidation, and Sustainable Growth

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Publisher : Springer Nature
ISBN 13 : 3031425111
Total Pages : 845 pages
Book Rating : 4.0/5 (314 download)

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Book Synopsis Economic Recovery, Consolidation, and Sustainable Growth by : Abdylmenaf Bexheti

Download or read book Economic Recovery, Consolidation, and Sustainable Growth written by Abdylmenaf Bexheti and published by Springer Nature. This book was released on 2024-01-03 with total page 845 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents carefully selected chapters from the proceedings of the 6th International Scientific Conference on Business and Economics (ISCBE),Tetovo, North Macedonia, which took place in May 2023. The chapters address a wide range of areas relevant to contemporary business and economics issues such as economic shocks, high inflation, energy crisis, COVID-19, growth prospects, economic forecast, labor market, gender inequalities, migration, entrepreneurship, and family businesses, firm development and innovations, technological transformation, etc. Researchers learn about the latest studies that discuss emerging challenges and perspectives of business and economics in the perspective of post-crisis economic recovery, consolidation, and stability.

Equity Implications of Fiscal Consolidation

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (112 download)

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Book Synopsis Equity Implications of Fiscal Consolidation by :

Download or read book Equity Implications of Fiscal Consolidation written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Belgium

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Belgium by : International Monetary Fund. European Dept.

Download or read book Belgium written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-12-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium: Selected Issues

Public Financial Management and Its Emerging Architecture

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Publisher : International Monetary Fund
ISBN 13 : 1475512198
Total Pages : 468 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano

Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch

Republic of Uzbekistan

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Republic of Uzbekistan by : International Monetary Fund. Middle East and Central Asia Dept.

Download or read book Republic of Uzbekistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-07-11 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Republic of Uzbekistan: Selected Issues

Fiscal Policy and Long-Term Growth

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Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund

Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Green Growth in South Asia

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Publisher : World Bank Publications
ISBN 13 : 1464820260
Total Pages : 152 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Green Growth in South Asia by : World Bank

Download or read book Green Growth in South Asia written by World Bank and published by World Bank Publications. This book was released on 2023-10-03 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Notwithstanding global growth weakness and financial pressures, growth in South Asia is expected to remain robust, supported by slower fiscal consolidation than in other EMDEs, strong public investment, and a recovery as financial stress has subsided. Policy challenges include, in the short-term, preserving financial stability and restoring fiscal sustainability and, in the long-term, rekindling investment, and managing an energy transition. Currently, the energy intensity of South Asian economies is almost twice the global average—despite a decline over the past two decades that was almost entirely driven by firm-level, within-sector cuts in energy intensity. The potential benefit of regulatory policies, information interventions, and financial support to help accelerate the diffusion of these technologies, as well as the possibility that these could also lend broader support for countries' development objectives. The transition away from fossil fuels may have considerable labor market impacts. A wide range of policies, including better access to high-quality education, finance, and markets; improved labor mobility; and strengthened social safety nets, will be needed to facilitate the adjustment in labor markets while protecting vulnerable workers.

Fiscal Adjustment for Stability and Growth

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Publisher : International Monetary Fund
ISBN 13 : 9781589065130
Total Pages : 80 pages
Book Rating : 4.0/5 (651 download)

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Book Synopsis Fiscal Adjustment for Stability and Growth by : Mr.James Daniel

Download or read book Fiscal Adjustment for Stability and Growth written by Mr.James Daniel and published by International Monetary Fund. This book was released on 2006-08-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fiscal Regimes for Extractive Industries—Design and Implementation

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Publisher : International Monetary Fund
ISBN 13 : 1498340067
Total Pages : 82 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Regimes for Extractive Industries—Design and Implementation by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Regimes for Extractive Industries—Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación

From Stimulus to Consolidation

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Publisher : International Monetary Fund
ISBN 13 : 1455217611
Total Pages : 122 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis From Stimulus to Consolidation by : Juan Toro R.

Download or read book From Stimulus to Consolidation written by Juan Toro R. and published by International Monetary Fund. This book was released on 2010-10-06 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.

Global Waves of Debt

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Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Coordination of Monetary and Fiscal Policies

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Publisher : International Monetary Fund
ISBN 13 : 1451844239
Total Pages : 33 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Coordination of Monetary and Fiscal Policies by : International Monetary Fund

Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fiscal Policy, Stabilization, and Growth

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Publisher : World Bank Publications
ISBN 13 : 0821370855
Total Pages : 354 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Fiscal Policy, Stabilization, and Growth by : Guillermo E. Perry

Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.