"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...

Fiscal consolidation remains the central challenge facing Honduras, mainly due to increasing current expenditures. The widening fiscal deficit has been driven by a significant increase in current expenditures. These increased current expenditures, which add rigidity to the budget, have occurred...

The report provides recent macroeconomic developments, outlook, and risks that Mongolia faces. The timing of the release of this report is ideal considering that, the Mongolian economy, which was recovering from the COVID-19 on the back of a successful vaccination program and income support,...

The new Government of Mauritius drafted the New Economic Agenda (NEA), a five-year reform framework to develop Mauritius into a high-income, high-tech service and knowledge economy. First, the Agenda focuses on improving the environment for the private sector, particularly given the existing...

Market nervousness concerning the fiscal positions of several European high-income countries poses a new challenge for the world economy. This arises as the recovery is transitioning toward a more mature phase during which the influence of rebound factors (such as fiscal stimulus) fades, and...

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...

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...

"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...