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Recurrent Expenditure Requirements Of Capital Projects Estimation For Budget Purposes
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Book Synopsis Recurrent Expenditure Requirements of Capital Projects by : Ron Hood
Download or read book Recurrent Expenditure Requirements of Capital Projects written by Ron Hood and published by . This book was released on 2016 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the issue of estimating recurrent costs associated with capital projects in the investment budget. It is intended to help overcome budget planning problems which give rise to the chronic underfunding of maintenance and operating costs typical in some developing economies. The objective is to provide guidance in the preparation of budget submissions so that information on the future recurrent cost implications of today's capital spending is quantified in a way that supports the authorities in making project selection and budget decisions.The paper is in three parts. The first part outlines some concepts and definitions involved in measuring recurrent costs. The second part provides stylized examples of individual projects. And the third part presents some rough empirical guidance drawn from a sample of actual investment projects.This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the Bank to improve the management of public finances.
Book Synopsis Recurrent expenditure requirements of capital projects estimation for budget purposes by : Ronald Hood
Download or read book Recurrent expenditure requirements of capital projects estimation for budget purposes written by Ronald Hood and published by World Bank Publications. This book was released on 2002 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the issue of estimating recurrent costs associated with capital projects in the investment budget. It is intended to help overcome budget planning problems which give rise to the chronic under-funding of maintenance and operating costs typical in some developing economies. The objective is to provide guidance in the preparation of budget submissions so that information on the future recurrent cost implications of today's capital spending is quantified in a way that supports the authorities in making project selection and budget decisions. The paper is in three parts. The first part outlines some concepts and definitions involved in measuring recurrent costs. The second part provides stylized examples of individual projects. And the third part presents some rough empirical guidance drawn from a sample of actual investment projects.
Book Synopsis Regulation, Productivity and Growth by : Giuseppe Nicoletti
Download or read book Regulation, Productivity and Growth written by Giuseppe Nicoletti and published by World Bank Publications. This book was released on 2003 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we relate the scope and depth of regulatory reforms to growth outcomes in OECD countries. By means of a new set of quantitative indicators of regulation, we show that the cross-country variation of regulatory settings has increased in recent years, despite extensive liberalisation and privatisation in the OECD area. We then look at the regulation-growth linkage using data that cover a large set of manufacturing and service industries over the past two decades. We focus on multifactor productivity (MFP), which plays a crucial role in GDP growth and accounts for a significant share of its cross-country variance. We find evidence that reforms promoting private governance and competition (where these are viable) tend to boost productivity. Both privatisation and entry liberalisation are estimated to have a positive impact on productivity. In manufacturing the gains are greater the further a given country is from the technology leader, suggesting that regulation limiting ...
Book Synopsis Guidelines for Public Expenditure Management by : Mr.Jack Diamond
Download or read book Guidelines for Public Expenditure Management written by Mr.Jack Diamond and published by International Monetary Fund. This book was released on 1999-07-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Perversity of Preferences by : Çaglar Özden
Download or read book The Perversity of Preferences written by Çaglar Özden and published by World Bank Publications. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Informality Revisited by : William Francis Maloney
Download or read book Informality Revisited written by William Francis Maloney and published by World Bank Publications. This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author develops a view of the informal sector in developing countries primarily as an unregulated micro-entrepreneurial sector and not as a disadvantaged residual of segmented labor markets. Drawing on recent work from Latin America, he offers alternative explanations for many of the characteristics of the informal sector customarily regarded as evidence of its inferiority.
Book Synopsis Survey Compliance and the Distribution of Income by : Johan A. Mistiaen
Download or read book Survey Compliance and the Distribution of Income written by Johan A. Mistiaen and published by World Bank Publications. This book was released on 2003 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: While it is improbable that households with different incomes are equally likely to participate in sample surveys, the lack of data for nonrespondents has hindered efforts to correct for the bias in measures of poverty and inequality. Mistiaen and Ravallion demonstrate how the latent income effect on survey compliance can be estimated using readily available data on response rates across geographic areas. An application using the Current Population Survey for the United States indicates that compliance falls as income rises. Correcting for selective compliance appreciably increases mean income and inequality, but has only a small impact on poverty incidence up to commonly used poverty lines in the United States. This paper - a product of the Poverty Team, Development Research Group - is part of a larger effort in the group to develop better methods of measuring poverty and inequality from survey data.
Book Synopsis Methods for Estimating Local Authorities' Spending Needs and Methods for Estimating Revenue by : Jens Blom-Hansen
Download or read book Methods for Estimating Local Authorities' Spending Needs and Methods for Estimating Revenue written by Jens Blom-Hansen and published by Council of Europe. This book was released on 2001-01-01 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis High consumption Volatility by : Philippe Auffret
Download or read book High consumption Volatility written by Philippe Auffret and published by World Bank Publications. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: A history of repeated external and domestic shocks has made economic insecurity a major concern across the Caribbean region. Of particular concern to all households, especially the poorest segments of the population, is the exposure to shocks that are generated by catastrophic events or natural disasters. The author shows that despite high consumption growth, the Caribbean region suffers from a high volatility of consumption that decreases household welfare. After presenting some empirical evidence that consumption volatility is higher in the Caribbean region than in the rest of the world, he makes some empirically testable inferences that help explain consumption volatility. The author develops a conceptual framework for analyzing the effects of catastrophic events on household and aggregate welfare. According to this framework, the volatility of consumption comes from production shocks that are transformed into consumption shocks mostly because of underdeveloped or ineffective risk-management mechanisms. Auffret conducts an empirical analysis of the impact of catastrophic events on 16 countries (6 from the Caribbean region and 10 from Latin America) from 1970-99 and shows that catastrophic events lead to: 1) A substantial decline in the growth of output. 2) A substantial decline in the growth of investment. 3) A more moderate decline in consumption growth (most of the decline is in private consumption, while public consumption declines moderately. 4) A worsening of the current account of the balance of payments.
Book Synopsis Reforming National Institutions For Economic Development by : Glynn Cochrane
Download or read book Reforming National Institutions For Economic Development written by Glynn Cochrane and published by Routledge. This book was released on 2019-06-04 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Dr. Cochrane presents various case studies of institutional reform and discusses how the reforms worked in practice. Through an examination of the budgeting process in Zambia, the public service in PapuaNew Guinea, agricultural programs in Sierra Leone, and rural development in Brazil, he draws lessons and indicates guidelines for institutional reform in developing countries.
Book Synopsis The Impact of Contractual Savings Institutions on Securities Markets by : Alberto R. Musalem
Download or read book The Impact of Contractual Savings Institutions on Securities Markets written by Alberto R. Musalem and published by World Bank Publications. This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Impavido, Musalem, and Tressel assess empirically the impact of contractual savings institutions portfolios (pension funds and life insurance companies) on securities markets, for example, depth and liquidity in the domestic stock market, and depth in the domestic bond market. They discuss how the institutionalization of savings can modify financial markets through the lengthening of securities' maturities. The results are the following: * An increase in assets of contractual savings institutions relative to domestic financial assets has a positive impact on the depth of stock and bond markets on average. * The impact on stock market depth and liquidity is nonlinear: it is stronger in countries where corporate information is more transparent. * There is evidence of a significant heterogeneity among countries: contractual savings have a stronger impact on securities markets in countries where the financial system is market based, pension fund contributions are mandatory, and international transactions in securities are lower. * The authors do not find that the impact of contractual savings institutions on securities markets is explained by the overall level of development, education, demographic structure or the legal environment. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study the effects of contractual savings on financial markets.
Book Synopsis Guinea by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Guinea written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-03-28 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Report discusses Guinea’s Public Investment Management Assessment (PIMA). This report presents public investment trends and the public investment efficiency gap, details the results of the assessment, and offers recommendations to improve PIM in Guinea. The institutional PIM framework has more strengths than weaknesses, despite being incomplete, while PIM effectiveness shows more weaknesses than strengths. Guinea recently signed roughly 20 public–private partnership (PPP) contracts through direct negotiation, although the institutional framework for PPPs is not yet finalized; this represents a source of potential financial risk that has not been evaluated. It is important to ensure that PPPs are adequately addressed in the legal and regulatory framework and to promote public access to information to uphold the principles of competition, efficiency, transparency, and, in particular, to open unsolicited proposals to competition. The report highlights that if Guinea is to reap the full benefits of its increasing capital spending, the authorities need to focus on correcting PIM weaknesses and improving the efficiency of PIM.
Book Synopsis Income Convergence During the Disintegration of the World Economy, 1919-39 by : Branko Milanovi?
Download or read book Income Convergence During the Disintegration of the World Economy, 1919-39 written by Branko Milanovi? and published by World Bank Publications. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some economists have argued that the process of disintegration of the world economy between the two world wars led to income divergence between the countries. This is in keeping with the view that economic integration leads to income convergence. The paper shows that the view that the period 1919-39 was associated with divergence of incomes among the rich countries is wrong. On the contrary, income convergence continued and even accelerated. Since the mid-19th century, incomes of rich countries tended to converge in peacetime regardless of whether their economies were more or less integrated. This, in turn, implies that it may not be trade and capital and labor flows that matter for income convergence but some other, less easily observable, forces like diffusion of information and technology.
Book Synopsis Republic of Kosovo by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Republic of Kosovo written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2023-12-04 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kosovo is rightly working to improve its public investment management to support future economic growth and improvements in wellbeing. This assessment applies the IMF Public Investment Management Assessment (PIMA) framework, including the Climate-PIMA module. It finds that there have been improvements in Kosovo’s public investment management institutions since the original 2015 PIMA assessment—but the design of these institutions is stronger than their effectiveness in practice. Continued reforms are needed to strengthen the project appraisal process, improve the pace of project implementation, and increase central support for major projects. Like most other countries, Kosovo is at an early stage of incorporating climate aspects into public investment management. Strengthening the alignment between climate goals and sectoral infrastructure planning and delivery will be needed to ensure that infrastructure investments are resilient and assist Kosovo in meeting is climate objectives.
Book Synopsis Tax Systems in Transition by : Pradeep Mitra
Download or read book Tax Systems in Transition written by Pradeep Mitra and published by World Bank Publications. This book was released on 2003 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: How have tax systems, whose primary role is to raise resources to finance public expenditures, evolved in the transition countries of Eastern Europe and the former Soviet Union? Mitra and Stern find that: (1) the ratio of tax revenue-to-GDP decreased largely due to a fall in revenue from corporate income tax; (2) the fall in revenue from the corporate income tax led to a decline in the importance of income taxes, notwithstanding a rise in the share of individual income tax; (3) social security contributions together with payroll taxes became less important in the Commonwealth of Independent States; and (4) domestic indirect taxes gained in importance in overall tax revenues. Apart from the increased role of personal income taxation, these developments go in a direction opposite to those observed in poor countries as they get richer. They show a key aspect of transition, namely a movement from a system where the government exercised a preeminent claim on output and income before citizens had access to the remainder, to one with a greatly diminished role for the public sector, as reflected in a lower ratio of public expenditure to GDP, where the government needs to collect revenue in order to spend. Can expected levels of public expenditure be financed by the basic instruments of a modern tax system without creating significant distortions in the private sector? The authors suggest that transition countries, depending on their stage of development, should aim for a tax revenue-to-GDP ratio in the range of 22 to 31 percent, comprising value-added tax (6 to 7 percent), excises (2 to 3 percent), income tax (6 to 9 percent), social security contribution together with payroll tax (6 to 10 percent), and other taxes such as on trade and on property (2 percent). The authors' analysis also sheds light on the links between tax policy, tax administration, and the investment climate in transition countries. This paper - a joint product of the Office of the Regional Vice President, Europe and Central Asia Region and the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank on the subject of transition meets development.
Book Synopsis The Effects of a Fee-waiver Program on Health Care Utilization Among the Poor by : Nazmul Chaudhury
Download or read book The Effects of a Fee-waiver Program on Health Care Utilization Among the Poor written by Nazmul Chaudhury and published by World Bank Publications. This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of a fee-waiver program for basic medical services on health care utilization in Armenia. Because of the reduction in public financing of health services and decentralization and increased privatization of health care provision, private out-of-pocket contributions are increasingly becoming a significant component of health costs in Armenia. To help poor families cope with this constraint, the Armenian government provided a free-of-charge basic package service to eligible individuals in vulnerable groups, such as the disabled and children from single parent households. Drawing on the 1996 and 1998-99 Armenia Integrated Survey of Living Standards (AISLS), which allows the identification of eligible individuals under this program, the authors estimate the impact of the fee-waiver program on utilization of health services, particularly among the poor. Across the two survey rounds utilization rates have indeed declined despite comparable levels of income, and this decline has occurred among both the poor and the rich, with average utilization falling by 12 percent between the two surveys. But families with four or more children, the largest beneficiary group under the "vulnerable population" program, have decreased their use of health care services in a disproportionate manner--21 percent reduction in use between the two survey rounds. This precipitous drop in health care use by this vulnerable group, despite being eligible for free medical services, suggests that the program was inadequate in stemming the decline in the use of health services. The authors further present evidence to suggest that the free-of-charge eligibility program acts more like an income transfer mechanism, particularly to disabled individuals. This paper--a joint product of Public Services, Development Research Group, and the Human Development Sector Unit, Europe and Central Asia Region--is part of a larger effort in the Bank to understand the impact of health sector reform on health care utilization and poverty.
Book Synopsis Republic of Mozambique by : International Monetary
Download or read book Republic of Mozambique written by International Monetary and published by International Monetary Fund. This book was released on 2014-03 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report contributes to the Mozambican authorities on reviewing the implementation of the government’s public financial management (PFM) reform strategy.
