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Fiscal Performance, Institutional Design and Decentralization in European Union Countries

Eyraud, Luc; Tuladhar, Anita; Escolano, Julio; Badia, … - International Monetary Fund (IMF) - 2012

This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into … account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better …

Persistent link: https://www.econbiz.de/10009654158

Decentralizing Spending More Than Revenue; Does it Hurt Fiscal Performance?

Eyraud, Luc; Lusinyan, Lusine - International Monetary Fund (IMF) - 2011

In many countries the decentralization of spending responsibilities has outpaced the decentralization of revenue powers …

Persistent link: https://www.econbiz.de/10009327869

Too Small to Fail? Subnational Spending Pressures in Europe

Eyraud, Luc; Badia, Marialuz Moreno - International Monetary Fund (IMF) - 2013

The purpose of this paper is to assess whether expenditure decentralization has contributed to weakening fiscal … following questions: (1) does the form of spending decentralization affect the general government fiscal balance?; (2) is there … results indicate that current decentralization models may have some shortcomings and efforts to achieve fiscal consolidation …

Persistent link: https://www.econbiz.de/10010790279

International Finance and Income Convergence; Europe is Different

Leigh, Daniel; Abiad, Abdul; Mody, Ashoka - International Monetary Fund (IMF) - 2007

Recent studies conclude that the ongoing global financial integration may have had little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to rich countries. And, when it does flow into the less developed economies, it is...

Persistent link: https://www.econbiz.de/10005263851

The Distributional Effects of Fiscal Consolidation

Ball, Laurence M.; Furceri, Davide; Leigh, Daniel; … - International Monetary Fund (IMF) - 2013

This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation has typically had significant distributional effects by raising inequality, decreasing...

Persistent link: https://www.econbiz.de/10010790370

Catch-Up Growth, Habits, Oil Depletion, and Fiscal Policy; Lessons From the Republic of Congo

Carcillo, Stéphane; Villafuerte, Mauricio; Leigh, Daniel - International Monetary Fund (IMF) - 2007

In a number of oil producing countries, oil revenue accounts for the majority of government revenue, but is expected to be depleted in a relatively short time frame. Ensuring that fiscal policy is on a sustainable path is thus a high priority, but political and social adjustment costs create...

Persistent link: https://www.econbiz.de/10005263833

Why isn't South Africa Growing Faster? a Comparative Approach

Eyraud, Luc - International Monetary Fund (IMF) - 2009

The purpose of this paper is to examine factors that have constrained South Africa's growth since the end of apartheid by comparing its GDP components and its saving and investment performance with those of 10 faster-growing countries. The study finds that sluggish investment has undermined...

Persistent link: https://www.econbiz.de/10005826291

The Second Transition; Eastern Europe in Perspective

Leigh, Daniel; Fabrizio, Stefania; Mody, Ashoka - International Monetary Fund (IMF) - 2009

The countries of Eastern Europe achieved two remarkable transitions in the short period of the last two decades: from plan to market and, then, in the run-up to and entry into the European Union, they rode a wave of global trade and financial market integration. Focusing on the second...

Persistent link: https://www.econbiz.de/10005826579

Leading Indicators of Growth and Inflation in Turkey

Leigh, Daniel; Rossi, Marco - International Monetary Fund (IMF) - 2002

Growth and inflation in Turkey have been volatile over the last two decades. It would, therefore, be useful to identify indicators that anticipate economic conditions and inflation. This paper investigates the predictive performance of economic indicators for inflation and real output growth in...

Persistent link: https://www.econbiz.de/10005604938

Growth Forecast Errors and Fiscal Multipliers

Blanchard, Olivier J.; Leigh, Daniel - International Monetary Fund (IMF) - 2013

This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong,...

Persistent link: https://www.econbiz.de/10010790265