[...]Importantly, these studies rely entirely on ex post analysis.In other words, the studies ask, Given the actual inflationoutcome, did the costs of TIPS issuances exceed the costs ofnominal Treasury issuances of similar durations? Thisapproach depends on the actual inflation outcome, which...

This paper uses a stochastic cost frontier model to investigate the efficiency of Britain’s private railways during the period 1893-1912. We find that there was substantial inefficiency in the industry with no sign of reduction over time. Our main conclusion is that principal agent problems...

The Palestinian health system suffers from chronic challenges related to protracted conflict and limited health system inputs, coupled with a high burden of non-communicable diseases (NCD). Over 75 percent of the disease burden is attributable to NCD, particularly cancers, diabetes,...

This note attempts to identify the factors associated with differences in overall school performance and efficiency. It draws on data from the Philippines Public Education Expenditure Tracking and Quantitative Service Delivery Study (PETS-QSDS), which tracked public education spending and...

The report summarizes the findings of an allocative efficiency analysis to support Senegal's national HIV response. Senegal has recently developed a National HIV Strategic Plan (NSP) (2014-17) and a Global Fund concept note (2015-17). The Government of Senegal would like to mobilize additional...

In 2016, the Government of Bulgaria (GoB) decided to initiate spending reviews (RS) to improve the efficiency and effectiveness of its spending in the context of a moderate fiscal consolidation process. Although Bulgaria has one of the lowest overall spending in the European Union (EU), spending...

This report, the full PER, aims to undertake a detailed analysis of the recent trends in publicexpenditures and revenue with a view to helping Mongolia's policy makers and opinion leaders identify the main priorities for a successful implementation of its ongoing recovery program. It also...

Armenia's fiscal performance has improved during the past two decades, supported by reforms. Revenue collection has converged with income and regional peers, overall spending levels have remained prudent, and debt levels remain sustainable. Fiscal policy has been counter-cyclical and progressive...

Eswatini's economy has been characterized by persistent low growth, high fiscal deficits, and unprofitable state-owned enterprises (SOEs). Without significant reform, the country is unlikely to achieve its socioeconomic aspirations, and poverty and unemployment are likely to remain high. These...