The question of what makes fiscal decentralization work is faced by many policymakers around the world. This book draws on both the relevant literature and policy and technical advice provided by the IMF to a wide range of member countries, and discusses the key factors that help make...

The most salient trend in monetary policy over the past two decades has been increasing reliance on money market operations, which reflects the belief that allowing market forces to allocate financial resources brings about increased economic efficiency and growth. However, small economies and...

How many people are employed by the government? How many are employed by the central government compared with the state and local authorities? How many are employed in public enterprise? How much are they all paid? How much are they paid relative to each other, or relative to the private sector?...