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By definition, fiscal dominance impedes the effective implementation of any monetary strategy aimed at controlling inflation. Economies that exhibit oil dominance-a situation in which oil exports largely affect the main macroeconomic indicators-may also exhibit fiscal dominance. However, in this...
Persistent link: https://www.econbiz.de/10014401522
This Selected Issues paper examines whether Egypt’s current account and exchange rate are in broad equilibrium. The paper analyzes areas of fiscal spending that have the biggest saving potential in a cross-country perspective. An assessment of Egypt’s real exchange rate is presented. The...
Persistent link: https://www.econbiz.de/10014405868
This Selected Issues paper on the Arab Republic of Egypt examines the dynamic relationship between the nominal exchange rate and prices during Egypt’s exit from a managed exchange rate regime. The exit from the peg went through several phases, including a series of step devaluations between...
Persistent link: https://www.econbiz.de/10014406070
This Technical Assistance (TA) Report on the Philippines discusses the fiscal regime for the mining sector. The Philippines has long been a producer of minerals, but the mining and petroleum sectors account for only a small share of the economy, exports, and government revenue. The petroleum...
Persistent link: https://www.econbiz.de/10014395456
A short-run macroeconomic model is estimated for Venezuela, in order to examine the hypothesis that the availability of oil resources may entail a confidence effect—on perceived future incomes—that influences the expenditure and portfolio behavior of economic agents. Such confidence effect...
Persistent link: https://www.econbiz.de/10014396215
Persistent link: https://www.econbiz.de/10009504203
Persistent link: https://www.econbiz.de/10009505051
This study estimated Indonesia's potential growth rate and examined its underlying determinants. Implementing a … stability, and support capital market development. This paper also reviews the level and structure of tax revenues in Indonesia …, estimates tax effort and tax efficiency, and discusses potential areas of revenue mobilization. Indonesia's financial linkages …
Persistent link: https://www.econbiz.de/10009510804
Indonesia’ 2008 Article IV Consultation reports that Indonesia’s growth performance remains strong despite the …
Persistent link: https://www.econbiz.de/10014401779
Indonesia has improved fiscal transparency; tax legislation has been substantially revised; tax administration is …
Persistent link: https://www.econbiz.de/10014402011