Macroeconomic Policy Frameworks For Resource Rich Developing Countries

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Macroeconomic Policy Frameworks for Resource-Rich Developing Countries

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498339999
Total Pages : 56 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Macroeconomic Policy Frameworks for Resource-Rich Developing Countries by : International Monetary Fund. Strategy, Policy, & Review Department

Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to widen the prism through which Fund policy analysis is conducted for resource-rich developing countries (RRDCs). While all resource-rich economies face resource revenue exhaustibility and volatility, RRDCs face additional challenges, including lack of access to international capital markets and domestic capital scarcity. Resource exhaustibility gives rise to inter-temporal decisions of how much of the resource wealth to consume and how much to save, and revenue volatility calls for appropriate fiscal rules and precautionary savings. Under certain conditions, it would be optimal for a significant share of a RRDC’s savings to be in domestic real assets (e.g., investment in domestic infrastructure), though absorptive capacity constraints need to be tackled to promote efficient spending and short-run policies are needed to preserve macroeconomic stability. The objective of this paper is to develop new macro-fiscal frameworks and policy analysis tools for RRDCs that could enhance Fund policy advice.

Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498340008
Total Pages : 104 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications by : International Monetary Fund. Strategy, Policy, & Review Department

Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement presents the analytical frameworks underlying the IMF’s staff’s enhanced policy analysis and advice to resource-rich developing countries (RRDCs). The proposed macro-fiscal models, which are applied to selected country or regional cases, are aimed at addressing questions regarding how to deal with resource revenue uncertainty and how to scale up spending within relevant frameworks that ensure fiscal and external sustainability while addressing absorptive capacity constraints. The country applications confirm the importance attached by both IMF staff and country authorities of using the appropriate macro-fiscal frameworks to address the specific challenges faced by RRDCs.

Fiscal Frameworks for Resource Rich Developing Countries

Author : Marcos Poplawski-Ribeiro
Publisher : International Monetary Fund
ISBN 13 : 1475572085
Total Pages : 29 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Fiscal Frameworks for Resource Rich Developing Countries by : Marcos Poplawski-Ribeiro

Download or read book Fiscal Frameworks for Resource Rich Developing Countries written by Marcos Poplawski-Ribeiro and published by International Monetary Fund. This book was released on 2012-05-16 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Macroeconomic Policy Frameworks for Resource-Rich Developing Countries

Author : Internationaler Währungsfonds
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (132 download)

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Book Synopsis Macroeconomic Policy Frameworks for Resource-Rich Developing Countries by : Internationaler Währungsfonds

Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries written by Internationaler Währungsfonds and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides deeper insights on a few themes with regard to the experience with macroeconomic management in resource-rich developing countries (RRDCs). First, some stylized facts on the performance of these economies relative to their non-resource peers are provided. Second, the experience of Fund engagement in these economies with respect to surveillance, programs, and technical assistance is assessed. Third, the experience of selected countries with good practices in the management of the natural resource wealth is presented. Fourth, the experience of IMF advice in helping RRDCs set up resource funds is discussed. Finally, the main themes and messages from the IMF staff consultation with external stakeholders (CSOs, policy makers, academics) are presented.

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344054
Total Pages : 89 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences by : International Monetary Fund

Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-27 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: This background paper focuses on the experiences of evolving monetary policy frameworks in nine individual countries and three thematic groupings of countries. The country case studies are complemented by analyses of common issues faced by countries in currency unions in the CFA franc zone, selected resource rich countries, and advanced economies and emerging markets during their modernization process of monetary policy regimes. Finally, the background paper also contains a discussion on the benefits of effective communication in conducting monetary policy.

Macroeconomic Stability in Resource-Rich Countries

Author : Ms.Elva Bova
Publisher : International Monetary Fund
ISBN 13 : 1475596464
Total Pages : 28 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Macroeconomic Stability in Resource-Rich Countries by : Ms.Elva Bova

Download or read book Macroeconomic Stability in Resource-Rich Countries written by Ms.Elva Bova and published by International Monetary Fund. This book was released on 2016-02-23 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset covering 48 non-renewable commodity exporters for the period 1970-2014, we investigate whether fiscal policy does indeed play a stabilizing role. Our analysis shows that fiscal policy tends to have a procyclical bias (mainly via expenditures) and, contrary to others, we do not find evidence that this bias has declined in recent years. Adoption of fiscal rules does not seem to reduce procyclicality in a significant way, but the quality of political institutions does matter. Finally, non-commodity revenues tend to respond only to persistent changes in commodity prices.

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344062
Total Pages : 74 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund

Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.

Fiscal Management in Resource-Rich Countries

Author : Rolando Ossowski
Publisher : World Bank Publications
ISBN 13 : 1464804966
Total Pages : 180 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Fiscal Management in Resource-Rich Countries by : Rolando Ossowski

Download or read book Fiscal Management in Resource-Rich Countries written by Rolando Ossowski and published by World Bank Publications. This book was released on 2016-06-28 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries.

Macroeconomic Stability in Resource-rich Countries

Author : Elva Bova
Publisher :
ISBN 13 : 9781498377508
Total Pages : pages
Book Rating : 4.3/5 (775 download)

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Book Synopsis Macroeconomic Stability in Resource-rich Countries by : Elva Bova

Download or read book Macroeconomic Stability in Resource-rich Countries written by Elva Bova and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomic Stability in Developing Countries

Author : Peter Montiel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4./5 ( download)

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Book Synopsis Macroeconomic Stability in Developing Countries by : Peter Montiel

Download or read book Macroeconomic Stability in Developing Countries written by Peter Montiel and published by World Bank Publications. This book was released on 2004 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. Montiel and Serven take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere"--Abstract.

Macroeconomic Policies in an Interdependent World

Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 9781557751119
Total Pages : 438 pages
Book Rating : 4.7/5 (511 download)

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Book Synopsis Macroeconomic Policies in an Interdependent World by : Mr.Paul R. Masson

Download or read book Macroeconomic Policies in an Interdependent World written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1989-06-15 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Copublished with the Brookings Institution, Washington D.C. and the Centre for Economic Policy Research, London, and edited by Ralph Bryant, David Currie, Jacob A. Frenkel, Paul Masson, and Richard Portes, this volume considers economic interdependence among well developed countries as well as between them and the developing regions of the world.

The Macroeconomics of Developing Countries

Author : Giovanni Andrea Cornia
Publisher : Oxford University Press
ISBN 13 : 0192598686
Total Pages : 416 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis The Macroeconomics of Developing Countries by : Giovanni Andrea Cornia

Download or read book The Macroeconomics of Developing Countries written by Giovanni Andrea Cornia and published by Oxford University Press. This book was released on 2020-03-26 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Macroeconomics of Developing Countries provides a comprehensive discussion of the exogenous factors and macroeconomic policies that affect the business cycle, long term growth, and distribution of income in developing countries. It examines countries dependent on natural resources and affected by supply rigidities in agriculture. They also feature dualistic markets, a large informal sector, rapid population growth, a vulnerable export sector, and chronic dependence on a volatile global finance. The Macroeconomics of Developing Countries uses these examples to analyse the impact of stablization and adjustment politices on growth, inequality, and poverty. Despite the launch of the Sustainable Development Goals there is little consensus on how macroeconomic policies can be consistent with these objectives. The Macroeconomics of Developing Countries demonstrates that a critical application of standard models to developing countries can generate erroneous results and induce the adoption of incorrect policy. In order to address this, it discusses the key structural differences between advanced and developing countries in order to justify the construction of alternative models.

Macroeconomics for Developing Countries

Author : Raghbendra Jha
Publisher : Routledge
ISBN 13 : 1134505442
Total Pages : 511 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis Macroeconomics for Developing Countries by : Raghbendra Jha

Download or read book Macroeconomics for Developing Countries written by Raghbendra Jha and published by Routledge. This book was released on 2003-03-13 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics for Developing Countries presents a comprehensive study of the tools of macroeconomic analysis with particular emphasis on their application in Developing Countries. At the same time, it examines the debate over whether developing economies should have a completely different framework for dealing with macroeconomic problems. The book includes: * alternative macroeconomic models of developing countries; * theories of inflation and the balance of payments; * internal and external debt; * evaluations of IMF stabilization packages.

Macroeconomics, agriculture, and food security

Author : Díaz-Bonilla, Eugenio
Publisher : Intl Food Policy Res Inst
ISBN 13 : 0896298590
Total Pages : 644 pages
Book Rating : 4.8/5 (962 download)

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Book Synopsis Macroeconomics, agriculture, and food security by : Díaz-Bonilla, Eugenio

Download or read book Macroeconomics, agriculture, and food security written by Díaz-Bonilla, Eugenio and published by Intl Food Policy Res Inst. This book was released on 2015-10-27 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why write a book on macroeconomic policies and their links to agriculture and food security in developing countries? The food price spikes of the years just prior to 2010 and the economic, political, and social dislocations they generated refocused the attention of policymakers and development practitioners on the agricultural sector and food security concerns. But even without those traumatic events, the importance of agriculture for developing countries—and for an adequate functioning of the world economy— cannot be denied. First, although declining over time, primary agriculture still represents important percentages of developing countries’ overall domestic production, exports, and employment. If agroindustrial, transportation, commercial, and other related activities are also counted, then the economic and social importance of agriculture-based sectors increases significantly. Furthermore, large numbers of the world’s poor still live in rural areas and work in agriculture. Through the links via production, trade, employment, and prices, agricultural production is also crucial for national food security. Second, it has been shown that agriculture in developing countries has important growth and employment multipliers for the rest of the economy, and agriculture seems to have larger positive effects in reducing poverty than growth in other sectors. Third, agriculture is not only important for individual developing countries, but it has global significance, considering the large presence of developing countries in world agricultural production and the increasing participation in international trade of those products (these three points will be covered in greater detail in Chapter 1).

Macroeconomic Policy for Growth and Poverty Reduction

Author : Degol Hailu
Publisher :
ISBN 13 :
Total Pages : 1 pages
Book Rating : 4.:/5 (1 download)

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Book Synopsis Macroeconomic Policy for Growth and Poverty Reduction by : Degol Hailu

Download or read book Macroeconomic Policy for Growth and Poverty Reduction written by Degol Hailu and published by . This book was released on 2011 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fundamental shift in macroeconomic policy thinking is taking place. This shift opens a space for implementing policies that promote growth and reduce poverty in developing countries. In this paper, policies for post-conflict and resource-rich economies are outlined. Fiscal policy would focus on revenue mobilization, scaling-up public investment, and preventing over-heating. Monetary policies would revive the financial sector, prevent inflationary pressures and stimulate private sector investment. Exchange rate policies should focus on achieving slow depreciation and maintaining international competitiveness. These policies should not be considered in isolation from each other, but in coordination.

Macroeconomic Policies for Sustainable Growth

Author : Mohan Munasinghe
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781958049
Total Pages : 368 pages
Book Rating : 4.9/5 (58 download)

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Book Synopsis Macroeconomic Policies for Sustainable Growth by : Mohan Munasinghe

Download or read book Macroeconomic Policies for Sustainable Growth written by Mohan Munasinghe and published by Edward Elgar Publishing. This book was released on 2006-05-25 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The state-of-the-art studies in this volume are to be warmly welcomed. The authors successfully explore the economic, environmental and social consequences of policy-failures, and identify practical corrective measures.' - Charles Perrings, President, International Society for Ecological Economics (ISEE) Macroeconomic policies have come under justifiable scrutiny because of their powerful and pervasive impacts throughout the economy. This book examines the sustainability of growth-oriented macroeconomic strategies, starting from early ideas linking macroeconomic policies, growth and sustainability. A comprehensive and up-to-date literature review and theoretical framework are presented, including both macroeconomic and microeconomic analyses of the linkages between the economy and the environment.

Macroeconomic Research in Low-income Countries

Author : Hites Ahir
Publisher : International Monetary Fund
ISBN 13 : 1513566601
Total Pages : 76 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Macroeconomic Research in Low-income Countries by : Hites Ahir

Download or read book Macroeconomic Research in Low-income Countries written by Hites Ahir and published by International Monetary Fund. This book was released on 2021-03-24 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.