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The paper studies empirically fiscal policies around elections in 35 developing countries. It finds that governments try to improve their reelection prospects with the help of expansionary expenditure policies. Rising fiscal deficits before elections are followed by fiscal consolidation afterwards. These cycles can be found particularly in countries which are less trade-oriented or which pursue fixed exchange rate policies. Certain IMF-supported programs (SAF/ESAF and EFF arrangements) contribute to fiscal stabilization, but they do not appear to affect the incidence of fiscal cycles. The paper concludes that policy advice and macroeconomic projections should not overlook election constraints, and political feasibility of reforms should be strengthened particularly before elections.
Foreign Exchange --- Macroeconomics --- Public Finance --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Open Economy Macroeconomics --- National Deficit Surplus --- Public finance & taxation --- Currency --- Foreign exchange --- Fiscal policy --- Fiscal stance --- Expenditure --- Capital spending --- Real effective exchange rates --- Expenditures, Public --- Capital investments --- United States
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Health policy has been for some time high on the agenda of many countries--and where it has not, it should be. Since no ideal model of health services has ever been devised 9 one may look for favorable elements in the health sector of a given country and examine their applicability to other countries. This paper analyzes Israel’s health sector in this context.
Public Finance --- Health Policy --- Demography --- Insurance --- Fiscal Policies and Behavior of Economic Agents: General --- Publicly Provided Goods: General --- National Government Expenditures and Health --- Health: General --- Analysis of Health Care Markets --- Demographic Economics: General --- National Government Expenditures and Related Policies: General --- Insurance Companies --- Actuarial Studies --- Health economics --- Health systems & services --- Public finance & taxation --- Population & demography --- Insurance & actuarial studies --- Health --- Health care --- Health care spending --- Population and demographics --- Total expenditures --- Expenditure --- Financial institutions --- Medical care --- Expenditures, Public --- Population --- Israel
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This paper presents an analysis of the determinants of private investment in the Caribbean region, using data for the 1977-91 time period. Drawing on the endogenous growth literature, a model is developed to capture the impact of public education expenditure on private sector capital formation. The implications of this model are tested in the context of an econometric model assessing the impact of education and other variables on the share of private investment in GDP. The empirical results reveal that public education outlays, as well as economic growth, have a significant effect on private capital formation. Public investment has a negative effect on private investment, while real interest rates and external debt burdens are found to have no statistically significant impact on private investment.
Banks and Banking --- Investments: General --- Public Finance --- Investment --- Capital --- Intangible Capital --- Capacity --- National Government Expenditures and Education --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Interest Rates: Determination, Term Structure, and Effects --- Macroeconomics --- Public finance & taxation --- Finance --- Private investment --- Public investment spending --- Capital formation --- Real interest rates --- Education spending --- National accounts --- Expenditure --- Financial services --- Saving and investment --- Public investments --- Interest rates --- Expenditures, Public --- Dominican Republic
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This paper presents a framework for planning the development of computerized government budgeting and accounting systems in economies in transition and developing economies. It argues that a comprehensive framework is needed to enable fiscal management issues to be addressed effectively, then outlines a methodology for planning systems development and proposes strategies for implementing the methodology in transitional and developing economies.
Accounting --- Budgeting --- Public Finance --- National Budget --- Budget Systems --- Public Administration --- Public Sector Accounting and Audits --- National Government Expenditures and Related Policies: General --- National Budget, Deficit, and Debt: General --- Budgeting & financial management --- Public finance accounting --- Public finance & taxation --- Budget planning and preparation --- Fiscal accounting and reporting --- Public financial management (PFM) --- Budget execution and treasury management --- Expenditure --- Budget --- Finance, Public --- Expenditures, Public
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This paper investigates the income distributional implications of different value-added tax (VAT) schemes in Bangladesh. The results indicate that a revenue-neutral uniform VAT is regressive in its impact on the income of different households. This paper explores an alternative policy package, consisting of a basic rate of VAT with exemptions for certain commodity groups, chosen on the basis of their distributional characteristics. The welfare consequences of the alternative package are found to be superior to those of the uniform VAT.
Investments: Commodities --- Public Finance --- Taxation --- Taxation and Subsidies: Incidence --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Business Taxes and Subsidies --- National Government Expenditures and Related Policies: General --- Agriculture: General --- Commodity Markets --- Public finance & taxation --- Investment & securities --- Excise taxes --- Value-added tax --- Expenditure --- Agricultural commodities --- Commodities --- Excises --- Taxes --- Consumption taxes --- Spendings tax --- Expenditures, Public --- Farm produce --- Commercial products --- Excise tax --- Bangladesh
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This paper describes economic developments in El Salvador during the 1990s. Since 1990, the government has implemented a major economic reform program, including through a greater reliance on market forces. Although risks remain, financial imbalances have been reduced, economic growth has resumed, and inflation has declined. The government also is modernizing the structure of the public sector, including a reform of public expenditure management. The restructuring of the public finances aims to increase public savings, reorient public expenditure toward increased peace-related expenditure, and increase efficiency in delivering services.
Macroeconomics --- Public Finance --- Taxation --- Trade Policy --- International Trade Organizations --- Taxation, Subsidies, and Revenue: General --- National Government Expenditures and Related Policies: General --- Public Enterprises --- Public-Private Enterprises --- Education: General --- Health: General --- Public finance & taxation --- Civil service & public sector --- Education --- Health economics --- Tariffs --- Revenue administration --- Expenditure --- Public sector --- Taxes --- Economic sectors --- Health --- Tariff --- Revenue --- Expenditures, Public --- Finance, Public --- El Salvador
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This Background Notes paper and Statistical Appendix presents a summary of the Croatian Tax System as of August 1994. The paper discusses the experience with incomes policies in Croatia. It highlights that incomes policy has played an important role in the Croatian stabilization program as the government has pursued the twofold objective of limiting costs in the public sector and of curbing the wage-price spiral. The paper briefly reviews developments in incomes policy and recent developments in real wages. It also describes the social safety net in Croatia.
Labor --- Public Finance --- Wages, Compensation, and Labor Costs: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Nonwage Labor Costs and Benefits --- Private Pensions --- National Government Expenditures and Related Policies: General --- Social Security and Public Pensions --- Labour --- income economics --- Pensions --- Public finance & taxation --- Public expenditure review --- Pension spending --- Expenditure --- Economic theory --- Expenditures, Public --- Croatia, Republic of
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Poland's economy rebounded dramatically in 1992-93, several years after the nation embarded on a comprehensive program of economic transformation. This paper describes Polan's steps in the areas of public finance, monetary policy and financial sector reform, trade and exchange rate policy, and microeconomic liberalization, as well as the social impact of transition.
Economic order --- Poland --- economie de marche libre --- politique economique --- pologne --- vrije markteconomie --- economisch beleid --- polen --- Economic policy --- Economic conditions --- Banks and Banking --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Public Finance --- Trade: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- National Government Expenditures and Related Policies: General --- Social Security and Public Pensions --- Currency --- Foreign exchange --- International economics --- Banking --- Public finance & taxation --- Exports --- Imports --- Expenditure --- Pension spending --- Commercial banks --- Financial institutions --- International trade --- Banks and banking --- Pensions --- Poland, Republic of
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This paper surveys the recent literature on the Japanese distribution system to consider two propositions: first, that the system is inefficient, and second that prices of imported products tend to be higher in Japan than in other markets. Most of the literature demonstrates that the system is efficient. However, the efficiency has not necessarily resulted in high social welfare as consumers have had limited access to various product lines or paid high prices for some products. This paper examines the distribution system in the automobile industry to promote understanding about the impacts of the system on price differentials.
Corporate Finance --- Exports and Imports --- Public Finance --- Industries: Automobile --- Firm Organization and Market Structure --- Retail and Wholesale Trade --- e-Commerce --- Trade: General --- Automobiles --- Other Transportation Equipment --- Related Parts and Equipment --- National Government Expenditures and Related Policies: General --- Multinational Firms --- International Business --- International economics --- Transport industries --- Public finance & taxation --- Multinationals --- Imports --- Automobile industry --- Public expenditure review --- Foreign corporations --- International trade --- Economic sectors --- Expenditure --- Automobile industry and trade --- Expenditures, Public --- Japan
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The analysis of this paper indicates that the unsatisfactory overall economic performance of sub-Saharan African countries during 1986–93 was due to inappropriate policies pursued by a number of countries. The countries that have pursued broadly appropriate adjustment policies have performed much better, achieving positive per capita GDP growth. The analysis is supported with an econometric investigation of the effects of macroeconomic policies, structural reforms, and exogenous factors on economic performance. The results indicate that progress in achieving macroeconomic stability and implementing structural reforms have been conducive to better growth, savings, and private investment.
Exports and Imports --- Foreign Exchange --- Investments: General --- Public Finance --- Macroeconomics --- Estimation --- Investment --- Capital --- Intangible Capital --- Capacity --- Foreign Aid --- Empirical Studies of Trade --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Macroeconomics: Consumption --- Saving --- Wealth --- International economics --- Public finance & taxation --- Currency --- Foreign exchange --- Private investment --- Foreign aid --- Terms of trade --- Public investment spending --- Real effective exchange rates --- National accounts --- International trade --- Expenditure --- Private savings --- Saving and investment --- International relief --- Economic policy --- nternational cooperation --- Public investments --- South Africa
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