"A resurgence of recent interest in fiscal federalism has been a source of concern among macroeconomic stabilization experts. They argue that a decentralized fiscal system poses a threat to macroeconomic stability as it is incompatible with prudent monetary and fiscal management. The author...

This note presents practical guidance on how to implement a framework for managing fiscal commitments from Public-Private Partnerships (PPPs). It draws on specific regional operational experience and on World Bank Institute (WBI)'s wider thematic engagement with different partners worldwide. The...

The difficulty of pursuing a conventional market-oriented development strategy in the Palestinian territories led in the early part of the 2000s to a second-best reliance on public sector employment and wage bill expansion to boost aggregate demand. The main objective of this Programmatic Public...

In 2012, the Latin America and the Caribbean (LAC) region continued its successful drive to reduce poverty and build the middle class. Poverty reduction was accompanied by strong income growth of the bottom 40 percent of the population, the World Bank's indicator of shared prosperity. However,...

Despite bold efforts to consolidate public finances, Ukraine's growth potential remains undermined by a large public sector, high public debt levels and inefficient provision of critical public services. The Ukraine government faces new public spending pressures which, if realized, would reverse...