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...

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)...

The implication of increasing dependency ratios for pay-as-you-go, defined-benefit pension programs are examined. Modifications aimed at smoothing contributions while maintaining benefits intact are analyzed for both open and closed economies

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 role of the state from a historical perspective. It outlines how that role has changed over the past hundred years and discusses the forces that have promoted the changes. In the period between 1913 and 1980, there was a large increase in public spending in industrial...

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...