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Fiscal Policy In The Eastern Caribbean Currency Union Evolution Challenges And Opportunities
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Book Synopsis Fiscal Policy in the Eastern Caribbean Currency Union: Evolution, Challenges and Opportunities by : Laurel Theresa Bain
Download or read book Fiscal Policy in the Eastern Caribbean Currency Union: Evolution, Challenges and Opportunities written by Laurel Theresa Bain and published by Laurel Theresa Bain. This book was released on 2022-01-20 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ms Laurel Theresa Bain decided to share her knowledge and experience by writing this book, Fiscal Policy in the Eastern Caribbean Currency Union (ECCU). Ms Bain is an Economist, having retired from the Eastern Caribbean Central Bank after twenty-nine (29) years of dedicated service. During these years, Ms Bain gained considerable experience as she soared through each of the ranks of her technical and administrative career paths to the position as Senior Director in the Governor's Office. Her strong technical skills were manifested in her research on fiscal policy and in the undertaking of economic assessments of the economies of the countries of the ECCU. In doing so, Ms Bain interacted with governments, and with regional and international organisations. Ms Bain is therefore best placed to document the evolution, challenges and opportunities of fiscal policy in the Eastern Caribbean Currency Union.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :27 pages Book Rating :4.4/5 (2 download)
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2024-04-25 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eastern Caribbean Currency Union: Selected Issues
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-06-08 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Currency Union (ECCU) has made significant progress in improving the quality and quantity of the macroeconomic statistics it produces and disseminates to the public. The Selected Issues Paper discusses prospects and challenges for credit unions in the ECCU. It reviews the current state of macroeconomic statistics, outlines progress that has been made, and identifies outstanding challenges. It also describes technical assistance to the region and presents the challenges for the production of macroeconomic statistics in small island states.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1498300103 Total Pages :67 pages Book Rating :4.4/5 (983 download)
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-02-22 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper presents a quantification of the long-term benefits of ex-ante resilient investment and insurance needs against natural disasters (ND) in Eastern Caribbean Currency Union (ECCU). Cost-benefit analysis of resilient investment based on a dynamic stochastic general equilibrium model tailored to small states and calibrated to all ECCU economies is also discussed in the paper. The model’s aggregate production function illustrates the interaction among the participating sectors and their contribution to output, ultimately informing the role of resilient investment. The study also quantifies government insurance coverage needs and costs using an empirical stochastic model that simulates NDs fiscal costs. The insurance needs are framed within the World Bank insurance layering framework. The results in this paper underscore the importance of a shift from ex-post recovery to a focus on ex-ante resilience building. Ex-ante resilient investment and insurance are key to the welfare and financial sustainability of the ECCU, given high intensity and recurrence of NDs.
Book Synopsis The Eastern Caribbean Economic and Currency Union by : Mr.Alfred Schipke
Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.
Book Synopsis Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union by : Phebby Kufa
Download or read book Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union written by Phebby Kufa and published by International Monetary Fund. This book was released on 2003-08-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio that can be sustained based on a country's projected steady-state primary balance, interest rate on public debt, and economic growth rate. In this context, government deficits and debt in several ECCU member countries appear unsustainable, posing a risk to the stability of the currency union. A critical issue facing member countries is to implement fiscal policies consistent with sustainable public finances and debt to underpin the currency union.
Book Synopsis Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union by : Phebby Kufa
Download or read book Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union written by Phebby Kufa and published by . This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio that can be sustained based on a country's projected steady-state primary balance, interest rate on public debt, and economic growth rate. In this context, government deficits and debt in several ECCU member countries appear unsustainable, posing a risk to the stability of the currency union. A critical issue facing member countries is to implement fiscal policies consistent with sustainable public finances and debt to underpin the currency union.
Book Synopsis Eastern Caribbean Currency Union: 2021 Discussion on Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the Eastern Caribbean Currency Union by : International Monetary
Download or read book Eastern Caribbean Currency Union: 2021 Discussion on Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for the Eastern Caribbean Currency Union written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-04 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fallout from the COVID-19 crisis is hitting ECCU economies hard. Tourism receipts (accounting for nearly 40 percent of GDP) have dried up, as tourist arrivals have come to a grinding halt. The authorities successfully contained the spread of the virus at the onset of the pandemic by largely closing the borders, but a reopening of the economies since the summer has led to a surge in COVID cases. The ECCU economy is projected to contract by 16 percent in 2020 and by a further near 1⁄2 percent in 2021. Fiscal positions have deteriorated sharply, and public debt is projected to reach near 90 percent of GDP in 2021 and remain at an elevated level for years to come. Headline indicators suggest the financial system is relatively sound with ample liquidity buffers, but nonperforming loans are expected to rise significantly. The outlook is clouded by exceptionally high risks, including from the uncertainty concerning the evolution of the pandemic.
Book Synopsis The Eastern Caribbean Currency Union by : International Monetary Fund
Download or read book The Eastern Caribbean Currency Union written by International Monetary Fund and published by . This book was released on 2000 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial system, money, capital market, economic developments, output, employment, prices, tourism, public finances, banking, monetary issues, fiscal policy.
Book Synopsis Eastern Caribbean Currency Union by : Fondo Monetario Internacional
Download or read book Eastern Caribbean Currency Union written by Fondo Monetario Internacional and published by . This book was released on 2007 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inequality and Fiscal Policy by : Mr.Benedict J. Clements
Download or read book Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-21 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.
Book Synopsis Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union by : Mr.A. E. Wayne Mitchell
Download or read book Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union written by Mr.A. E. Wayne Mitchell and published by International Monetary Fund. This book was released on 2019-05-17 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, we assess the size of the government wage bill and employment in the member countries of the Eastern Caribbean Currency Union and their implications for fiscal sustainability and the adequacy of public service delivery. Over the period 2005 to 2015 their wage bill (as a percentage of GDP, government revenues and expenditures) is higher than in other small states notwithstanding recent efforts by governments to make it more manageable. The composition and distribution of employment is sub-optimal and is reflected in skills mismatches contributing to inefficiencies in public service delivery. Using a dynamic fixed-effects panel, we find that wage bill growth reflects the expansion of government activities to speed up economic and social development and that wage bill spending is procyclical in good times but is rigid during downturns. Finally, we identify the main institutional and legal reforms needed to improve wage bill management and public service efficiency.
Book Synopsis Challenges of Growth and Globalization in the Middle East and North Africa by : Mr.Hamid R Davoodi
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
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.
Book Synopsis The East African Community by : Ms.Catherine McAuliffe
Download or read book The East African Community written by Ms.Catherine McAuliffe and published by International Monetary Fund. This book was released on 2012-11-14 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
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.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
