Public-private partnerships (PPPs) refer to arrangements under which the private sector supplies infrastructure assets and infrastructure-based services that traditionally have been provided by the government. PPPs are used for a wide range of economic and social infrastructure projects, but...

How can a country turn oil revenues into a blessing rather than a curse? With growing international interest in new offshore oil deposits in sub-Saharan Africa, there is also greater scrutiny of the reasons why many oil-producing countries in the region have experienced disappointing economic...

The striking turnaround in the Netherlands' economic performance over the past decade and a half has attracted widespread attention. Emerging from deep recession and high unemployment in the early 1980s, the economy shifted to a pace of growth more rapid than that in neighboring economies, and...

This paper offers Algeria's recent experience with macroeconomic stabilization and systemic transformation from a centrally planned to a market economy. The analyses focuses on the period since 1994 when Algeria embarked on a comprehensive reform program that has benefitted from IMF support,...

What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run...

Kuwait has made an impressive recovery from the damage and disruptions caused by the Iraqi invasion in 1990, as evidenced by the restoration of basic economic and social services, the recovery of the oil sector, the rehabilitation of infrastructure, and the steady reduction in the fiscal and...

Central banks and other public financial institutions act as agents of fiscal policy in many countries. Their ""quasi-fiscal"" operations and activities can affect the overall public sector balance without affecting the budget deficit as conventionally measured, may also have important...

This volume brings together various analytical studies the IMF staff has undertaken on the Japanese economy, focusing on two areas of particular interest for both longer-term economic performance and recent cyclical developments. The first is Japan's saving behavior, the second is the remarkable...

This study discusses the evolution of domestic public debt in several indebted countries and its relationship with their external debt and underlying fiscal developments. It examines the links between domestic and external debt, taxes, subsidies, and government spending, and reviews strategies...

China encountered problems preserving economic stability while pursuing reforms aimed at increasing its economic flexibility and efficiency. This paper examines China's experience with market-oriented reforms since 1978, offering lessons for other centrally planned economies in the midst of...