This paper aims to clarify possible systemic bottlenecks to the introduction of advanced PFM reforms in the SEE countries. It relates key fiscal developments to PFM reform processes over the last 15 years. PFM reform strategies must be realistic, with clear objectives and timetables, and with...

This paper looks at the role Sovereign Wealth Funds have played in the Pacific Island Countries in achieving key macro-fiscal policy objectives, namely, protecting the budget from high revenue volatility and strengthening fiscal prospects. Evidence shows that the funds' effectiveness has been...

Intro -- Contents -- I. INTRODUCTION -- II. ECONOMIC CHARACTERISTICS AND EXCHANGE RATE POLICY IN THE PACIFIC REGION -- III. COMMON CURRENCY AREAS: EXPERIENCE IN OTHER REGIONS -- IV. ISSUES IN THE CONSIDERATION OF A COMMON CURRENCY AREA IN THE PACIFIC REGION -- V. CONCLUDING REMARKS -- References.