The globalization of economic activities that is characterizing many economies raises questions about the future of the nation state. This paper discusses this trend and shows that cross-frontiers spillovers have become more frequent and have increased the need for international agreements and...

Corruption is attracting a lot of attention around the world. The paper surveys and discusses issues related to the causes, consequences, and scope of corruption and possible corrective actions. It emphasizes the costs of corruption in terms of economic growth. It also emphasizes that the fight...

The IMF has been a major participant in the challenge of transforming many African, Asian, and European countries from centrally planned to market economies. The authors of this book, mainly staff members of the IMF, have distilled their firsthand experience with fiscal reform in transition...

This paper discusses the fundamental determinants of inequality. These are identified as world or market forces, social norms, ownership of real and human capital, and the role of government. The change in the relative role of these factors in determining inequality during economic development...

The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance

Deepening globalization and associated or parallel technological and institutional developments are creating conditions which may reduce the industrial countries’ ability to sustain high levels of taxation. The paper identifies and discusses eight trends which may generate revenue falls. It...

The collapse of central economic planning in many countries and the breakup of the Soviet Union have put into disarray systems of government revenues and expenditures in these countries. This collection of 16 papers, edited by Vito Tanzi, analyzes the strengths and weaknesses of fiscal policies...

IMF economists work closely with member countries on a variety of issues. Their unique perspective on country experiences and best practices on global macroeconomic issues are often shared in the form of books on diverse topics such as cross-country comparisons, capacity building, macroeconomic...

Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i)...