The paper presents empirical findings regarding the economic policy consequences of constitutional arrangements, in three different dimensions. First, the data are consistent with several theoretical predictions about the consequences of electoral rules and forms of government for fiscal policy...

This report brings together three budget notes that assess Kenya's fiscal capacity to respond to global crisis and deliver shared growth without compromising macroeconomic stability. The report is organized into three notes. The key messages from this analysis point to areas where Kenya's fiscal...

Although the State of Ceara, in Brazil, is a model of good economic, and fiscal performance given its poverty status, recent analysis show poverty remains severe, in spite of significant reductions over the last decade. The combination of good governance, and sound fiscal management, industrial...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

"We examine how financial expansion and contraction cycles affect the broader economy through their impact on 8 real economic sectors in a panel of 28 countries over 1960-2005, paying particular attention to large, or sharp, contractions and magnifying and mitigating factors. Overall, the...

"Political economy explanations for fiscal profligacy are dominated by models of bargaining among organized interest groups over group-specific targeted benefits financed by generalized taxation. These models predict that governments consisting of a coalition of political parties spend more than...

"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...

The report titled ‘contingent liabilities: the Colombian experience,’ is the first publication on the management of contingent liabilities in Colombia. Published by the Ministry of Finance and Public Credit (MHCP), the report highlights technical and normative efforts and policy reforms on...