This paper examines the environmental effects of mineral taxes in a framework that recognizes the importance of rates and cumulative externalities and proposes an appropriate corrective tax. It concludes that mineral resources taxation should combine neutral taxes with a dynamic Pigovian type...

Commonly cited environmental instruments in the legal, regulatory, and fiscal domains are intended primarily to address market failures to ensure that environmental degradation and resource use is contained to appropriate levels. However, in many instances, environmental degradation is rooted...

This paper examines the role and impact of taxation on sustainable forest management. It is shown that fiscal instruments neither reinforce nor substitute for traditional regulatory approaches. Far from encouraging more sustainable forest management, fiscal instruments such as an inappropriate...

The paper studies the setting of optimal fiscal policy in a second-best world with environmental externalities. The optimal second-best pollution tax is shown to lie below the first-best Pigovian tax, particularly if substitution between labor and polluting intermediate inputs is easy, the labor...

Executive Directors commend Bangladesh in addressing the major challenges to growth and poverty reduction. The strategy is comprehensive and confronts the key issues impeding sustainable development and inclusive growth in Bangladesh. Implementing sound macro-financial policies, intensifying...

The Sixth Five Year Plan, as outlined in Bangladesh's Poverty Reduction Strategy Paper, targets strategic growth and employment. The medium-term macroeconomic framework plan entails the involvement of both the private and public sectors. Human resources development strategy programs reaching out...

Bangladesh’s second Poverty Reduction Strategy Paper -- “Steps Towards Change: National Strategy for Accelerated Poverty Reduction II (NSAPR II)†– provides a framework for implementing the government’s agenda during FY09-FY11. First prepared by a Caretaker...

An increasing number of tropical timber producing nations have enacted bans on export of logs. Proponents argue that a log export ban is a second-best policy tool for addressing environmental externalities; it also creates more jobs and improves scale efficiencies domestically. Theoretical...

Fiscal instruments are potentially among the most effective, and cost-effective, options for addressing externalities related to poor air quality, urban road congestion, and greenhouse gases. This paper takes a case study, focused on Mauritius (a pioneer in the use of green taxes) to illustrate...

In this paper, the structure of Colombia’s financial sector is analyzed and various risks of the financial sector are studied. Supervision of the financial system can be performed by supervisory architecture, banking supervision, various securities, and insurance policies. Systemic...