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You are looking at 1 - 10 of 20 items for :

  • Economic theory and methods x
  • Economic Growth and Aggregate Productivity: General x
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Cover Policy Papers
Front Matter
International Monetary Fund. Strategy, Policy, & Review Department
Keywords:
financing envelope; MIP action; Balance of payments need; Adjustment process; Inclusive growth; Income distribution; Fiscal consolidation
Cover Policy Papers
The IMF Strategy for Fragile and Conflict-Affected States
International Monetary Fund
This paper proposes a comprehensive Strategy to strengthen IMF support to FCS in accordance with the Fund’s mandate and comparative advantage. The Strategy is a response to the Board-endorsed recommendations of the 2018 Independent Evaluation Office (IEO) Report on The IMF and Fragile States. To achieve these goals, the Strategy will benefit from additional resources reflected in the FY23-25 Medium-Term Budget, as per the budget augmentation framework discussed by the Board in December 2021. The Strategy also provides measures to better support staff working on FCS. Given the inherent risks in FCS engagement, the Strategy will be phased in starting in FY22, with implementation gradually accelerating between FY23-FY25.
Keywords:
FCS strategy; IMF FCS list; IMF engagement; field presence; IMF field presence; staffing change; IMF core activity; engagement model; Climate change; Inclusive growth; Absorptive capacity; Macro-fiscal framework; Global; Asia and Pacific
Cover IMF Staff Country Reports
Front Matter
International Monetary Fund. African Dept.

IMF Country Report No. 21/148

Keywords:
CEMAC member country; business climate reform; B. monetary policy stance; Policy commitment; monetary policy transmission; Foreign exchange regulations; Government finance statistics; Inclusive growth
Cover Policy Papers
G20 Note On Environmentally Sustainable Investment For The Recovery
International Monetary Fund. Fiscal Affairs Dept.
This Note prepared for the G20 Infrastructure Working Group summarizes the main finding of the IMF flagships regarding the role of environmentally sustainable investment for the recovery. It emphasizes that environmentally sustainable investment is an important enabler for a resilient greener, and inclusive recovery—it creates jobs, spurs economic growth, addresses climate change, and improves the quality of life. It can also stimulate much needed private sector greener and resilient investment.
Keywords:
climate change; environmentally sustainable investment; public investment management; green infrastructure; IMF flagship; transparency policy; quality infrastructure investment agenda; energy efficiency improvement investment; management practice; Public investment and public-private partnerships (PPP); Infrastructure; Climate change; Job creation; Natural disasters; Global; Sustainable growth
Cover IMF Working Papers
Front Matter
Mr. Simon Johnson and Ms. Priscilla S Muthoora
Keywords:
Social protection spending; Income inequality; COVID-19; Income; Inclusive growth
Cover IMF Working Papers
Financial Frictions and Firm Informality: A General Equilibrium Perspective
Luis Franjo, Nathalie Pouokam, and Francesco Turino
In this paper we build a model of occupational choice with informal production and progressive income taxation. We calibrate the model to the Brazilian economy to evaluate the impact of removing financial frictions on informality. We find that financial deepening leads to a drop in the size of the informal sector (from 37 percent to 22 percent of official GDP), to an increase in measured TFP (by 4 percent), to an increase in official GDP (by 27 percent), to a decrease in tax evasion (by 17 percent) and to an increase in fiscal revenues (by 15 percent). When assessing the response of this policy at different levels of financial development, we find a non-linear relationship between the credit-to-GDP ratio on the one hand, and either the size of the informal economy, or GDP per capita on the other hand. We test these features with cross-country data and find evidence in favor of both types of non-linearity. We also investigate changes in the income tax progressitivity as an alternative policy and find it to be more effective in countries with a medium to high level of financial markets development.
Keywords:
WP; informal firm; firms informality; survival firm; ghost firm; parasite firm; informality; financial frictions; taxation; entrepreneurship; productivity; misallocation; Self-employment; Tax evasion; Credit; Informal economy
Cover Policy Papers
A Strategy for IMF Engagement on Social Spending
International Monetary Fund. Fiscal Affairs Dept., International Monetary Fund. Strategy, Policy, &, and Review Department

This paper outlines a strategy to guide IMF engagement on social spending issues going forward.

Keywords:
PP; spending; spending issue; social spending; fund; effectiveness; IMF surveillance; program policy advice; policy trade-off; Income inequality; Health care spending; Inclusive growth; Social assistance spending; Education spending; Global; IMF engagement; SpendingA strategy; engagement on Social SpendingIMF Executive Board Supports New Strategy for engagement; spending efficiency; spending adequacy; country team; policy advice; government spending
Cover Policy Papers
IMF Executive Board Adopts Decisions to Enhance the Financial Safety Net for Developing Countries
International Monetary Fund

Financing for Development - Enhancing the Financial Safety Net for Developing Countries

Keywords:
PP; SDR; financial support; PRGT financing framework; SCF arrangement; interest rate mechanism; Inclusive growth; Natural disasters; Poverty reduction strategy
Cover IMF Working Papers
A New Look at the Determinants of Growth in Asian Countries
Mr. Manuk Ghazanchyan, Ms. Janet Gale Stotsky, and Qianqian Zhang
This study examines the drivers of growth in Asian countries, with focus on the role of investment, the exchange rate regime, financial risk, and capital account openness. We use a panel data set of a sample of Asian countries over the period 1980 to 2012. Our results indicate that private and public investments are strong drivers of growth, while more limited evidence is found that reduced financial risk and higher foreign direct investment support growth. The exchange rate regime does not appear to be a strongly significant determinant of growth, but some specifications suggest that more flexible regimes are beneficial in this respect. Financial crises have a stronger dampening effect on growth in countries with more open capital accounts.
Keywords:
WP; center; regime; regime dummy; financial risk; stability requirement; Asia; growth; exchange rate regimes; investment; capital account openness; exchange rate volatility; exchange rate uncertainty; excessive exchange rate flexibility; exchange rate framework; exchange rate appreciation; Exchange rate arrangements; Capital account; Exchange rate flexibility; Estimation techniques; Public investment spending; Asia and Pacific; East Asia