From Stimulus To Consolidation Revenue And Expenditure Policies In Advanced And Emerging Economies PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download From Stimulus To Consolidation Revenue And Expenditure Policies In Advanced And Emerging Economies PDF full book. Access full book title From Stimulus To Consolidation Revenue And Expenditure Policies In Advanced And Emerging Economies.
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 122 |
Release | : 2010-10-06 |
Genre | : Business & Economics |
ISBN | : 1616350423 |
Download From Stimulus to Consolidation Book in PDF, ePub and Kindle
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.
Author | : International Monetary Fund. Finance Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 93 |
Release | : 2010-06-07 |
Genre | : Business & Economics |
ISBN | : 149833735X |
Download From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies Book in PDF, ePub and Kindle
This review marks the 10th anniversary of the safeguards policy. Introduced in March 2000, the policy’s main objective is to mitigate potential risks of misuse of resources, including Fund resources, and misreporting of monetary program data. The policy was last reviewed in 2005, when the Executive Board re-affirmed the effectiveness of the policy, and its application to central banks. In keeping with previous reviews, a panel of experts was invited to provide advice for the Executive Board on the implementation of the policy, and recommendations to guide the focus and application of the policy going forward.
Author | : Mr.Marcello M. Estevão |
Publisher | : International Monetary Fund |
Total Pages | : 51 |
Release | : 2013-05-31 |
Genre | : Business & Economics |
ISBN | : 1484304489 |
Download The Economic Effects of Fiscal Consolidation with Debt Feedback Book in PDF, ePub and Kindle
The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.
Author | : Mr.Mauricio Villafuerte |
Publisher | : International Monetary Fund |
Total Pages | : 64 |
Release | : 2010-09-17 |
Genre | : Business & Economics |
ISBN | : 1589069374 |
Download Strategies for Fiscal Consolidation in the Post-Crisis World Book in PDF, ePub and Kindle
In response to the global financial crisis, governments provided substantial support to the financial and other key sectors. Although this cushioned the adverse effects of the crisis, it is necessary now to articulate a strategy to ensure the sustainability of public finances. This paper discusses the scale and composition of fiscal adjustment that will need to occur once the recovery is securely under way. Although specific country-level circumstances will influence the composition of the adjustment and its political feasibility, in many cases restoring fiscal sustainability will require reforms to reduce spending and increase tax revenue.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 257 |
Release | : 2015-04-20 |
Genre | : Business & Economics |
ISBN | : 1498344658 |
Download Fiscal Policy and Long-Term Growth Book in PDF, ePub and Kindle
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 | : Mr.James Daniel |
Publisher | : International Monetary Fund |
Total Pages | : 80 |
Release | : 2006-08-17 |
Genre | : Business & Economics |
ISBN | : 9781589065130 |
Download Fiscal Adjustment for Stability and Growth Book in PDF, ePub and Kindle
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.
Author | : International Monetary Fund. Fiscal Affairs Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 73 |
Release | : 2009-12-11 |
Genre | : Business & Economics |
ISBN | : 1498335160 |
Download Fiscal Rules—Anchoring Expectations for Sustainable Public Finances Book in PDF, ePub and Kindle
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 | : Mr.Daniel Leigh |
Publisher | : International Monetary Fund |
Total Pages | : 41 |
Release | : 2011-07-01 |
Genre | : Business & Economics |
ISBN | : 1455294691 |
Download Expansionary Austerity New International Evidence Book in PDF, ePub and Kindle
This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Author | : Mr. M. Cangiano |
Publisher | : International Monetary Fund |
Total Pages | : 468 |
Release | : 2013-04-05 |
Genre | : Business & Economics |
ISBN | : 1475512198 |
Download Public Financial Management and Its Emerging Architecture Book in PDF, ePub and Kindle
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
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2013-01-25 |
Genre | : Business & Economics |
ISBN | : 147556631X |
Download The Challenge of Public Pension Reform in Advanced and Emerging Economies Book in PDF, ePub and Kindle
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.