Public Finance

Empirical evidence on the beneficial effects of fiscal transparency ranges from improved budgetary outcomes, to lower sovereign borrowing costs and decreased corruption. Despite this, hardly any effort has been invested in exploring the determinants of fiscal transparency. Using a new 85-country...

Establishing a debt management office would consolidate all debt management functions in a single agency, and be the catalyst for wider institutional reform and transparency about public debt. It is internationally accepted best practice that debt management should be disaggregated from monetary...

This paper analyses the impact of domestic and external shocks on the Indian economy. A macro-modelling framework is developed that evaluates the impact of two domestic shocks (rainfall shortfall and fiscal profligacy) and three external shocks (oil price hike, world trade shock and capital flow...

This paper focuses on government investment and expenditure policies. Going beyond the growth experience, the author also tries to relate the policy experience to the issues of aggregate poverty, income distribution and hunger at an aggregate level. The broad theme that emerges from the analysis...

The bulletin shows what are the process in presenting budget and the terms used in the budget.

Theoretical literature identifies two variants of crowding out in an economy–real and financial. The real (direct) crowding out occurs when the increase in public investment displaces private capital formation broadly on a dollar-for-dollar basis, irrespective of the mode of financing the...

Economic Review of Developments in 2005 and Prospects for 2006. Presented before the Budget for 2006.