This Public Expenditure Review analyzes trends in revenues, expenditures and development outcomes over the past 10 years. Its main findings are that, since the late 1990s, the Philippines has been caught in a low-revenue, low-expenditure trap and that the current level of public revenues is not...

This book is a critical review of current fiscal and monetary policy in Europe and presents results of both empirical research and a discussion of the theoretical framework behind the policy of the European Central Bank and the Stability and Growth Pact. Macroeconomic policy is often hotly...

This paper analyzes the structural relationship between policies that distort resource allocation and long-ten growth. It first reviews briefly the Solow model in which steady-state growth depends only on exogenous technological change. Policy distortions do affect the rate of growth in the...

This report provided the Government of Peru with a comprehensive strategic assessment of three key infrastructure sectors: water/sanitation, transport and electricity, and to propose selected recommendations on how the Government could improve the performance of these sectors. Peru's public...

This report provided the Government of Peru with a comprehensive strategic assessment of three key infrastructure sectors: water/sanitation, transport and electricity, and to propose selected recommendations on how the Government could improve the performance of these sectors. Peru's public...

There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the...

Market nervousness concerning the fiscal positions of several European high-income countries poses a new challenge for the world economy. This arises as the recovery is transitioning toward a more mature phase during which the influence of rebound factors (such as fiscal stimulus) fades, and...

This report brings together three budget notes that assess Kenya's fiscal capacity to respond to global crisis and deliver shared growth without compromising macroeconomic stability. The report is organized into three notes. The key messages from this analysis point to areas where Kenya's fiscal...

Although the State of Ceara, in Brazil, is a model of good economic, and fiscal performance given its poverty status, recent analysis show poverty remains severe, in spite of significant reductions over the last decade. The combination of good governance, and sound fiscal management, industrial...

Although the State of Ceara, in Brazil, is a model of good economic, and fiscal performance given its poverty status, recent analysis show poverty remains severe, in spite of significant reductions over the last decade. The combination of good governance, and sound fiscal management, industrial...