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The critical role of agricultural commodities in the growth of low-income countries is examined. A combination of factors has resulted in declining agricultural prices, necessitating further increasing volumes by developing countries to maintain export earnings. But low growth in factor productivity in Africa compared to competitors caused declining export shares in African countries. A broad-based smallholder strategy based on producing commodities in which a country enjoys comparative advantage needs to be supported by productivity enhancing innovations in food and export commodities, a stable price environment, availability of infrastructure and access to credit. Such an environment requires partnership between government and private agents.

Agribusiness --- Agricultural commodities --- Agricultural economics --- Agricultural exports --- Agricultural industries --- Agricultural sector --- Agriculture: General --- Commercial products --- Commodities --- Commodity Markets --- Economic Growth of Open Economies --- Economic sectors --- Exports and Imports --- Exports --- Farm produce --- International economics --- International trade --- Investment & securities --- Investments: Commodities --- National Government Expenditures and Related Policies: General --- Structure and Scope of Government: General --- Trade: General --- Kenya

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The paper investigates empirically the impact of ethnic heterogeneity on the amount of public spending on health and education and the quality, or “technical efficiency” of spending. While it finds partial evidence for the claim that more heterogeneous societies spend less on public goods, it suggests that heterogeneity significantly affects the efficiency of public expenditure outcomes in terms of social indicators. The results suggest that the impact of heterogeneity on public expenditure outcomes is not just a public choice problem, but also an issue of “technical efficiency.”.

Public Finance --- Structure and Scope of Government: General --- Public Goods --- National Government Expenditures and Health --- National Government Expenditures and Education --- National Government Expenditures and Related Policies: General --- Education: General --- Health: General --- Public finance & taxation --- Education --- Health economics --- Expenditure --- Health care spending --- Education spending --- Health --- Expenditures, Public --- United States

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Using a new daily index of social unrest, we provide systematic evidence on the negative impact of social unrest on stock market performance. An average social unrest episode in an typical country causes a 1.4 percentage point drop in cumulative abnormal returns over a two-week event window. This drop is more pronounced for events that last longer and for events that happen in emerging markets. Stronger institutions, particularly better governance and more democratic systems, mitigate the adverse impact of social unrest on stock market returns.

Macroeconomics --- Economics: General --- International Economics --- Finance: General --- Investments: Stocks --- General Outlook and Conditions --- General Financial Markets: General (includes Measurement and Data) --- Structure and Scope of Government: General --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Aggregate Factor Income Distribution --- Economic & financial crises & disasters --- Economics of specific sectors --- Finance --- Investment & securities --- Financial crises --- Economic sectors --- Stock markets --- Financial markets --- Stocks --- Financial institutions --- Income --- National accounts --- Currency crises --- Informal sector --- Economics --- Stock exchanges --- Egypt, Arab Republic of --- Pricing --- Social conflict. --- Capital market. --- Macroeconomics. --- Economics: General. --- International Economics. --- Finance: General. --- Investments: Stocks. --- General Outlook and Conditions. --- Structure and Scope of Government: General. --- Pension Funds. --- Non-bank Financial Institutions. --- Financial Instruments. --- Institutional Investors. --- Aggregate Factor Income Distribution. --- Economic & financial crises & disasters. --- Economics of specific sectors. --- Finance. --- Investment & securities. --- Financial crises. --- Economic sectors. --- Stock markets. --- Financial markets. --- Stocks. --- Financial institutions. --- Income. --- National accounts. --- Currency crises. --- Informal sector. --- Economics. --- Stock exchanges. --- Social aspects. --- Egypt, Arab Republic of.

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This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union. The paper argues that a well-designed framework can help to enhance the credibility of macroeconomic policies and facilitate preparations for EU membership. It presents an illustrative scenario for Bulgaria, utilizing a broad concept of net public debt.

Budgeting --- Public Finance --- National Budget, Deficit, and Debt: General --- National Budget --- Budget Systems --- Structure and Scope of Government: General --- Debt --- Debt Management --- Sovereign Debt --- National Government Expenditures and Related Policies: General --- Forecasts of Budgets, Deficits, and Debt --- Fiscal Policy --- Public finance & taxation --- Budgeting & financial management --- Macroeconomics --- Public debt --- Expenditure --- Medium-term budget frameworks --- Fiscal policy --- Budget planning and preparation --- Public financial management (PFM) --- Debts, Public --- Budget --- Expenditures, Public --- Bulgaria

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This technical note focuses on the concept of autonomy and describes why it is important in public administration. There has been a tendency for governments to increase the autonomy of their departments and agencies. The basic principle is that such autonomy can lead to better performance by removing impediments to effective and efficient management while maintaining appropriate accountability and transparency. This note explains how autonomy is relevant for revenue administration and what is the range of autonomy currently practiced. The paper also describes key measures of autonomy in revenue administration.

Labor --- Public Finance --- Taxation --- Structure and Scope of Government: General --- Structure, Scope, and Performance of Government --- Taxation, Subsidies, and Revenue: General --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Business Taxes and Subsidies --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Public finance & taxation --- Labour --- income economics --- Financial administration & public finance law --- Revenue administration --- Semi-autonomous revenue bodies --- Tax administration core functions --- Human capital --- Revenue laws --- Revenue --- Tax administration and procedure --- Finance, Public --- Law and legislation --- Canada --- Income economics