Macroeconomic Policy In Fragile States
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Macroeconomic Policy In Fragile States
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Author : Ralph Chami
language : en
Publisher: Oxford University Press
Release Date : 2021-01-26
Macroeconomic Policy In Fragile States written by Ralph Chami and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-26 with Business & Economics categories.
Setting macroeconomic policy is especially difficult in fragile states. Political legitimacy concerns are heightened, raising issues such as who the policymakers are, what incentives they face, and how the process of policymaking is likely to work under limited legitimacy and high uncertainty both about the macroeconomic environment as well as policy effectiveness. In addition, fragility expands the range of policy objectives in ways that may constrain the attainment of standard macroeconomic objectives. Specifically, in the context of fragility policymakers also need to focus on measures to mitigate fragility itself - i.e., they need to address issues such as regional and ethnic economic disparities, youth unemployment, and food price inflation. Socio-political developments around the world have thus pushed policymakers to broaden their toolkit to improve the effectiveness of macroeconomic management in the face of these constraints. The chapters in Macroeconomic Policy in Fragile States address these issues, both by giving an analytical context from which policymakers can build to answer the questions they face in fragile situations as well as by providing lessons drawn from empirical analyses and case studies. The first section of the volume discusses the interactions between political economy considerations and macroeconomic policymaking. The second section covers the private sector environment in fragile states. The third section focuses on macroeconomic policy, especially fiscal policy, monetary policy, exchange rate policy, external flows, and aid effectiveness. The last section explains the role of the IMF in fragile states and concludes by presenting case studies from the Middle East and from Sub-Saharan Africa. The contributors to the volume are economists and political scientists from academia as well as policymakers from international organizations and from countries affected by fragility.
How To Design Tax Policy In Fragile States
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Author : Mario Mansour
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-26
How To Design Tax Policy In Fragile States written by Mario Mansour and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-26 with Business & Economics categories.
The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of experiences in revenue mobilization in fragile states, including relative to other country groups—in particular, nonfragile states and formerly fragile states; that is, countries that exited fragility during the period under study. A discussion follows of how the principles of tax policy design should be applied in fragile states, particularly the relative importance of the revenue objective vis-à-vis other objectives, such as equity and efficiency. The two sections that follow provide guidance on tax policy design in the emergency and consolidation phases, respectively, and discuss how governments can use tax policy to transition from one phase to another, eventually overcoming fragility. The note concludes with key lessons and a set of guiding principles for tax reform in fragile states.
Avoid A Fall Or Fly Again Turning Points Of State Fragility
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Author : Olusegun Ayodele Akanbi
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-06
Avoid A Fall Or Fly Again Turning Points Of State Fragility written by Olusegun Ayodele Akanbi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-06 with Business & Economics categories.
High persistence of state fragility (a fragility trap) suggests the presence of substantial benefits from avoiding a fall into fragility and considerable hurdles to successful exit from fragility. This paper empirically examines the factors that affect the turning points of entering and exiting from state fragility by employing three different approaches: an event study, the synthetic control method, and a logit model. We find that avoiding economic contraction is critical to prevent a country on the brink of fragility from falling into fragility (e.g., among near fragile countries, the probability of entering fragility would rise by 40 percentage points should real GDP per capita growth decline from +2.5 percent to -2.5 percent). Also, strengthening government effectiveness together with increasing political inclusion and maintaining robust economic activity should help make exit from fragility more successful and sustainable. In the current environment (the COVID-19 crisis and its aftermath), the findings suggest the importance of providing well-directed fiscal stimulus with sufficient financing, (subject to appropriate governance safeguards and well-designed policies), and protecting critical socio-economic spending to keep vulnerable countries away from being caught in a fragility trap.
The Imf Strategy For Fragile And Conflict Affected States
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-14
The Imf Strategy For Fragile And Conflict Affected States written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-14 with Business & Economics categories.
This paper proposes a comprehensive Strategy to strengthen IMF support to FCS in accordance with the Fund’s mandate and comparative advantage. The Strategy is a response to the Board-endorsed recommendations of the 2018 Independent Evaluation Office (IEO) Report on The IMF and Fragile States. To achieve these goals, the Strategy will benefit from additional resources reflected in the FY23-25 Medium-Term Budget, as per the budget augmentation framework discussed by the Board in December 2021. The Strategy also provides measures to better support staff working on FCS. Given the inherent risks in FCS engagement, the Strategy will be phased in starting in FY22, with implementation gradually accelerating between FY23-FY25.
Multi Country Report
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-06-14
Multi Country Report written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-14 with Business & Economics categories.
This paper provides background information for the IMF Board paper on “Building Fiscal Capacity in Fragile States (FS).” It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs Department (FAD), in collaboration with the Legal Department, in the following countries: Afghanistan, Haiti, Kosovo, Liberia, Mali, Myanmar, South Sudan, and Timor-Leste.
Fragile States
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Author : Wim Naudé
language : en
Publisher: Oxford University Press
Release Date : 2011-08-25
Fragile States written by Wim Naudé and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-25 with Business & Economics categories.
Fragile states are often mired in civil conflict. This volume focuses on the relationship between conflict and state stability and illustrates the causes and effects of fragile states on neighbouring countries and the global community.
Exiting From Fragility In Sub Saharan Africa
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Author : Corinne Deléchat
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-22
Exiting From Fragility In Sub Saharan Africa written by Corinne Deléchat and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
This paper studies the role of fiscal policies and institutions in building resilience in sub-Saharan African countries during 1990-2013, with specific emphasis on a group of twenty-six countries that were deemed fragile in the 1990s. As the drivers of fragility and resilience are closely intertwined, we use GMM estimation as well as a probabilistic framework to address endogeneity and reverse causality. We find that fiscal institutions and fiscal space, namely the capacity to raise tax revenue and contain current spending, as well as lower military spending and, to some extent, higher social expenditure, are significantly and fairly robustly associated with building resilience. Similar conclusions arise from a study of the progression of a group of seven out of the twenty-six sub- Saharan African countries that managed to build resilience after years of civil unrest and/or violent conflict. These findings suggest relatively high returns to focusing on building sound fiscal institutions in fragile states. The international community can help this process through policy advice, technical assistance, and training on tax administration and budget reforms.
Accro Tre La R Silience Dans Les Tats Fragiles D Afrique Subsaharienne
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Author : Mr.Enrique A Gelbard
language : fr
Publisher: International Monetary Fund
Release Date : 2015-11-10
Accro Tre La R Silience Dans Les Tats Fragiles D Afrique Subsaharienne written by Mr.Enrique A Gelbard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-10 with Business & Economics categories.
Ce document analyse la persistance de la fragilité dans certains pays d'Afrique subsaharienne et la coexistence de multiples dimensions de la faiblesse de l'État. L'étude passe également en revue les caractéristiques de la fragilité, et ses liens avec les conflits et l'action internationale en faveur des états fragiles, avant de dresser un état des lieux de la situation et des domaines dans lesquels la résilience a progressé. Elle s'intéresse également au rôle des politiques et institutions budgétaires, et analyse les phases d'accélération et de ralentissement de la croissance. Une analyse du cas de sept pays précise certain des principaux facteurs en jeu et illustre la diversité des voies suivies, en soulignant l'importance de l'échelonnement des réformes. Enfin, l'étude se termine par une synthèse des principaux résultats et conséquences pratiques.
On The Capacity To Absorb Public Investment How Much Is Too Much
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Author : Daniel Gurara
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-28
On The Capacity To Absorb Public Investment How Much Is Too Much written by Daniel Gurara and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-28 with Business & Economics categories.
While expanding public investment can help filling infrastructure bottlenecks, scaling up too much and too fast often leads to inefficient outcomes. This paper rationalizes this outcome looking at the association between cost inflation and public investment in a large sample of road construction projects in developing countries. Consistent with the presence of absorptive capacity constraints, our results show a non-linear U-shaped relationship between public investment and project costs. Unit costs increase once public investment is close to 10% of GDP. This threshold is lower (about 7% of GDP) in countries with low investment efficiency and, in general, the effect of investment scaling up on costs is especially strong during investment booms.
The Macroeconomics Of The Arab States Of The Gulf
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Author : Raphael A. Espinoza
language : en
Publisher: OUP Oxford
Release Date : 2013-10
The Macroeconomics Of The Arab States Of The Gulf written by Raphael A. Espinoza and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10 with Business & Economics categories.
Provides original insights into the functioning of the GCC macro-economy. It covers structural, long-term, issues such as the determinants of economic growth, the impact of foreign workers on labour markets, wages, and competitiveness, and the economic impact of a rich state that wants to distribute oil money.