Expenditure Rules Effective Tools For Sound Fiscal Policy

Author : Till Cordes,Mr.Tidiane Kinda,Ms.Priscilla S. Muthoora,Anke Weber
Publisher : International Monetary Fund
Page : 29 pages
File Size : 53,6 Mb
Release : 2015-02-12
Category : Business & Economics
ISBN : 9781498390576

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Expenditure Rules by Till Cordes,Mr.Tidiane Kinda,Ms.Priscilla S. Muthoora,Anke Weber Pdf

This paper provides new evidence on the effectiveness of expenditure rules. The analysis is based on a unique dataset covering all countries with national and supranational fiscal rules, including 33 expenditure rules, between 1985 and 2013. It contributes to the existing literature on fiscal rules in two main ways. First, it is the most comprehensive assessment of compliance with rules and of the potential role of expenditure rules, in particular regarding long-term sustainability. Second, it analyzes whether expenditure rules are associated with changes in public investment and its efficiency.

Author : Till Cordes
Publisher : Unknown
Page : 128 pages
File Size : 47,6 Mb
Release : 2015
Category : Expenditures, Public
ISBN : 1498323685

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Expenditure Rules by Till Cordes Pdf

This paper provides new evidence on the effectiveness of expenditure rules. The analysis isbased on a unique dataset covering all countries with national and supranational fiscal rules,including 33 expenditure rules, between 1985 and 2013. It contributes to the existingliterature on fiscal rules in two main ways. First, it is the most comprehensive assessment ofcompliance with rules and of the potential role of expenditure rules, in particular regardinglong-term sustainability. Second, it analyzes whether expenditure rules are associated withchanges in public investment and its efficiency

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 73 pages
File Size : 51,5 Mb
Release : 2009-12-11
Category : Business & Economics
ISBN : 9781498335164

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Fiscal Rules—Anchoring Expectations for Sustainable Public Finances by International Monetary Fund. Fiscal Affairs Dept. Pdf

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 : International Monetary Fund
Publisher : International Monetary Fund
Page : 257 pages
File Size : 51,5 Mb
Release : 2015-04-20
Category : Business & Economics
ISBN : 9781498344654

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Fiscal Policy and Long-Term Growth by International Monetary Fund Pdf

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.George Kopits,Mr.Steven A. Symansky
Publisher : International Monetary Fund
Page : 58 pages
File Size : 42,5 Mb
Release : 1998-07-22
Category : Business & Economics
ISBN : 1557757046

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Fiscal Policy Rules by Mr.George Kopits,Mr.Steven A. Symansky Pdf

What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.

Author : Mr.James Daniel
Publisher : International Monetary Fund
Page : 80 pages
File Size : 53,8 Mb
Release : 2006-08-17
Category : Business & Economics
ISBN : 1589065131

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Fiscal Adjustment for Stability and Growth by Mr.James Daniel Pdf

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 : Mr.Jack Diamond,Mr.Barry H. Potter
Publisher : International Monetary Fund
Page : 84 pages
File Size : 51,7 Mb
Release : 1999-07-01
Category : Business & Economics
ISBN : 1557757879

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Guidelines for Public Expenditure Management by Mr.Jack Diamond,Mr.Barry H. Potter Pdf

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.

Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 286 pages
File Size : 52,7 Mb
Release : 2012-10
Category : Business & Economics
ISBN : 9780821396308

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Is Fiscal Policy the Answer? by Blanca Moreno-Dodson Pdf

Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.

Author : OECD
Publisher : OECD Publishing
Page : 504 pages
File Size : 41,9 Mb
Release : 2001-03-20
Category : Electronic
ISBN : 9789264192607

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Managing Public Expenditure A Reference Book for Transition Countries by OECD Pdf

Managing Public Expenditure presents a comprehensive and in-depth analysis of all aspects of public expenditure management from the preparation of the budget to the execution, control and audit stages.

Author : Sailendra Pattanayak
Publisher : International Monetary Fund
Page : 32 pages
File Size : 54,5 Mb
Release : 2016-04-20
Category : Business & Economics
ISBN : 9781475567076

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Expenditure Control by Sailendra Pattanayak Pdf

This paper defines and explains key stages of the government expenditure chain and describes the controls applied at each stage, including their objectives and key features as well as centralized vs. decentralized approaches in application of those controls. The paper also examines the influence of different administrative traditions on types of expenditure controls, including the authority and responsibility of various institutional actors. Finally, it discusses typical weaknesses/problems associated with different traditions of expenditure control and suggests specific measures for strengthening the control framework. While providing examples of expenditure control practices from more than 32 countries, the paper points out that more than two-thirds of the 85 low and middle income countries covered by the publicly available Public Expenditure and Financial Accountability (PEFA) assessments have weak systems of expenditure control that are also associated with higher levels of expenditure arrears and a lack of budget credibility. This paper will help public financial management practitioners to evaluate budget execution systems and identify priorities for strengthening expenditure controls. It will also usefully guide technical assistance work related to modernization of government budget execution and expenditure control systems, including the design and implementation of IT-based financial management information systems.

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 2007
Category : Electronic
ISBN : OCLC:1352129628

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FISCAL Indicators by Anonim Pdf

Author : Gösta Ljungman
Publisher : International Monetary Fund
Page : 58 pages
File Size : 52,5 Mb
Release : 2008-12
Category : Business & Economics
ISBN : IND:30000087928101

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Expenditure Ceilings - A Survey by Gösta Ljungman Pdf

This paper looks at the factors that have to be considered when designing an aggregate expenditure ceiling. It is argued that expenditure ceilings are effective in promoting fiscal discipline and sustainability, but that a number of trade-offs have to be made when setting up a fiscal framework that will survive in a politically charged environment. The paper illustrates the discussion with a case study of medium-term aggregate expenditure ceilings in three countries: Finland, the Netherlands and Sweden.

Author : Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados
Publisher : International Monetary Fund
Page : 548 pages
File Size : 49,8 Mb
Release : 2017-04-07
Category : Business & Economics
ISBN : 9781475547900

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Fiscal Politics by Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados Pdf

Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 33 pages
File Size : 47,6 Mb
Release : 1998-03-01
Category : Business & Economics
ISBN : 9781451844238

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Coordination of Monetary and Fiscal Policies by International Monetary Fund Pdf

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.

Author : Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo
Publisher : International Monetary Fund
Page : 41 pages
File Size : 41,6 Mb
Release : 2011-07-01
Category : Business & Economics
ISBN : 9781455294695

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Expansionary Austerity New International Evidence by Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo Pdf

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.