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A strong legal framework that forms the basis for the activities of debt managers is crucial for enabling an effective public debt management function. This paper aims to complement discussions on the legal foundations of debt management by detecting and discussing essential elements that allow...
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The debt market in Thailand has made important strides since the financial crisis of 1997. The Thai government has made significant progress in building an orderly yield curve and is beginning to establish some benchmarks. However, more needs to be done if the government is to achieve its...
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This is the second volume of a study on the insights from a 12-country pilot program on public debt management and domestic government debt market development. The discussion of domestic government debt market development in this book uses a building block approach to gain insights into...
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This paper pertains to the bond market development in Malaysia, and provides an overview of the market scenario in the … country. Malaysia has been successful in developing the capital markets, particularly bond markets, in the recent past. Now …, it faces the challenge of how to improve broader access and efficiency of the bond market. A high degree of investor …
Persistent link: https://www.econbiz.de/10012560699
The government of Pakistan borrows in the domestic market through a range of instruments, and this market is a critical source of funding for both shorter-term cash management and longer-term deficit-financing. The government has taken actions over the past 18 months that have enhanced the...
Persistent link: https://www.econbiz.de/10012557892
"Tax expenditures, in the form of tax provisions, are government expenditures. They are conceptually and functionally distinct from those tax provisions whose purpose is to raise revenue. Tax expenditure programs are comparable to entitlement programs. Therefore, tax expenditures must be...
Persistent link: https://www.econbiz.de/10010522134
This background paper describes five different tools that can be used for the assessment of tax incentives by governments in low income countries' (LICs). The first tool (an application of cost-benefit analysis) provides an overarching framework for assessment. Evaluations of the various costs...
Persistent link: https://www.econbiz.de/10012644783