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This paper analyzes the determinants of growth in 25 transition economies during 1990–97. The paper’s main finding is that macroeconomic stabilization, structural reform, and reduction of government expenditures are key to achieving sustainable growth. Although the initial effect of reforms...
Persistent link: https://www.econbiz.de/10014400100
-sector employment and have helped raise standards of living. However, the growth model has involved costs: the public-sector wage bill … is relatively high, there is limited employment of nationals in the private sector, labor productivity has declined or …
Persistent link: https://www.econbiz.de/10014410425
This paper discusses tax and expenditure policy reforms to raise employment. Using data for 58 advanced and emerging …. The focus is on incentives to increase labor demand and supply rather than on the impact of fiscal policy on employment … principles which should guide the design of country-specific fiscal reforms to boost employment. A comprehensive set of tables on …
Persistent link: https://www.econbiz.de/10014410536
Fiscal deficits and the public debt has grown throughout much of the postwar period in most industrialized countries under the pressure of rising public expenditure, a trend that has begun to reverse after 1992. A number of studies argue that fiscal consolidation in association with expenditure...
Persistent link: https://www.econbiz.de/10014407227
Europe is facing slower growth as a result of protracted financial turbulence and spillovers from the U.S. Meanwhile … risks to real activity with the need to anchor inflation. Emerging Europe is well placed to continue to grow, albeit at a …
Persistent link: https://www.econbiz.de/10012673975
Europe's contraction is ending, but the recovery is fragile. Policymakers should look beyond the crisis to secure a …
Persistent link: https://www.econbiz.de/10012676977
This paper examines the impact of the opening up of Eastern Europe and the Former Soviet Union on Western Europe. The …
Persistent link: https://www.econbiz.de/10014397277
implications of current policies for future public finances. This could be problematic, including in the case of Europe, where …, even in excess of its GDP level, and is projected to worsen further over time. This suggests that Europe’s current policies …
Persistent link: https://www.econbiz.de/10014402857
The EU is deliberating the introduction of an explicit ""European mandate"" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given...
Persistent link: https://www.econbiz.de/10014404295
Like most Sub-Saharan African countries, Kenya’s economic growth appears to have been primarily driven by factor accumulation. The Selected Issues paper and Statistical Appendix for Kenya examines economic developments and policies. During the last two decades, Kenya has been plagued by...
Persistent link: https://www.econbiz.de/10011244155