This report presents the analysis, findings, conclusions and recommendations of the evaluation of the Pacific Financial Technical Assistance Center (PFTAC) that was undertaken between April 26 and May 14, 2004

This note is intended to inform Public Financial Management (PFM) reform in small Pacific Island Countries (PICs). PFM systems in PIC contexts are often very different from the sophisticated and comprehensive systems operating in larger, wealthier countries. The authors give two key messages....

Spain has experienced income convergence consistently in the past decade, despite gradual losses in competitiveness. The empirical evidence indicates that overall EU enlargement offers a range of opportunities for Spain, points to potential pressures in specific sectors, and offers challenges,...

This Selected Issues paper examines three areas of key policy importance for Greece in the coming years. The paper documents the loss of international competitiveness in recent years, as well as the accompanying widening of the current account deficit. It analyzes fiscal consolidation episodes...

This paper discusses a request from Congo for the Rapid-Access Component of the Exogenous Shocks Facility. Performance on the 2008 staff-monitored program was mixed, complicated by the effects of the exogenous shock. Although weaknesses remain, the authorities strengthened public financial...

We introduce non-tradable goods to the Heckscher-Ohlin-Samuelson (HOS) model to study the distributive effects of terms of trade shocks. We show that the employment of resources in activities producing exclusively for the local market induces a crucial association between domestic spending and...

This Selected Issues paper for the Netherlands highlights that Dutch cost competitiveness deteriorated significantly in the years prior to 2004. The relatively poor economic performance during the new millennium contributed to these concerns generally, as did restrained export performance more...

One of the most significant recent developments in world trade has been the entry of China into the World Trade Organization (WTO). This paper examines the implications of China's WTO accession for India's trade, using both econometrics and computable general equilibrium (CGE) models. The paper...

This 2005 Article IV Consultation highlights that economic growth in Morocco has been volatile and insufficient to significantly reduce poverty and unemployment. Growth averaged 3 percent over the last decade. It has been volatile because of the dependency of agriculture on rainfalls. In 2004,...

This Selected Issues paper examines the main factors explaining Ukraine’s growth performance so far, assesses whether the recent recovery is sustainable, and provides a quantitative analysis of long-term growth prospects. It finds that the recent recovery is not yet self-sustaining and...