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Financial Markets and Public Finance in the Transformation Process

Tanzi, Vito - International Monetary Fund (IMF) - 1992

The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of “social ecological balance” necessary for the working of a modern market economy; (b) the need to...

Persistent link: https://www.econbiz.de/10005264034

Reforming Tax Systems; Experience of the Baltics, Russia, and Other Countries of the Former Soviet Union

Stepanyan, Vahram - International Monetary Fund (IMF) - 2003

Starting in the early 1990s, the Baltics, Russia, and other (BRO) countries of the former Soviet Union initiated tax … lowering of the top marginal income tax rate would significantly benefit economic development and increase tax compliance, have … initiated a new stage of tax reforms. This paper reviews country experiences and suggests that (i) overall, there seems to be …

Persistent link: https://www.econbiz.de/10005768818

Foreign Aid and Revenue Response; Does the Composition of Aid Matter?

Pivovarsky, Alexander; Clements, Benedict J.; Gupta, Sanjeev - International Monetary Fund (IMF) - 2003

This paper examines the revenue response to inflows of foreign aid in 107 countries during the period 1970–2000, In particular, it investigates whether the impact of aid on the revenue effort depends on the composition of aid (grants vis-à-vis loans). The results indicate that while...

Persistent link: https://www.econbiz.de/10005599232

Optimal Fiscal Policy and the Environment

Ligthart, Johanna Elisabeth - International Monetary Fund (IMF) - 1998

optimal second-best pollution tax is shown to lie below the first-best Pigovian tax, particularly if substitution between …

Persistent link: https://www.econbiz.de/10005599649

Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union

Pellechio, Anthony J.; Rizavi, Saqib; Kufa, Phebby - International Monetary Fund (IMF) - 2003

The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio...

Persistent link: https://www.econbiz.de/10005605374

Fiscal Policy Response to External Crises the Case of Moldova 1998-2010

Qehaja, Driton - International Monetary Fund (IMF) - 2012

External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...

Persistent link: https://www.econbiz.de/10010790375

Economic Reform in Arab Countries; A Review of Structural Issues for the Remainder of the 1990's

El-Erian, Mohamed A.; Tareq, Shamsuddin - International Monetary Fund (IMF) - 1993

The paper reviews the main structural reform issues facing Arab countries in the remainder of the 1990s. While the nature, extent, and implications of the policy challenges differ among individual countries in the Arab region, several aspects are common to a large number of them. Accordingly,...

Persistent link: https://www.econbiz.de/10005825734

The Fiscal Smile; The Effectiveness and Limits of Fiscal Stabilizers

Silgoner, Maria Antoinette; Crespo-Cuaresma, Jesús; … - International Monetary Fund (IMF) - 2003

We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle volatility for a panel of EU countries in the period 1970-99. The results show that the business cycle volatility smoothing effect of fiscal stabilizers may revert at high...

Persistent link: https://www.econbiz.de/10005826403

The Choice Between External and Domestic Debt in Financing Budget Deficits; The Case of Central and West African Countries

Beaugrand, Philippe; Mlachila, Montfort; Loko, Boileau - International Monetary Fund (IMF) - 2002

The paper reviews the principles and practical considerations involved in the choice between foreign and domestic financing of fiscal deficits, and derives a series of recommendations broadly applicable to Central and West African countries. The paper develops a simple analytical framework and...

Persistent link: https://www.econbiz.de/10005768940

Politics, Government Size, and Fiscal Adjustment in Industrial Countries

Annett, Anthony - International Monetary Fund (IMF) - 2002

clear relationships between the type of political system and choice of tax and expenditure system. The paper also examines …

Persistent link: https://www.econbiz.de/10005599740