Notes and Manuals > Staff Discussion Notes

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Structure, Scope, and Performance of Government x
Clear All Modify Search
Vitor Gaspar, Mr. David Amaglobeli, Ms. Mercedes Garcia-Escribano, Delphine Prady, and Mauricio Soto
The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of current spending to GDP in these sectors. Toward this end, we apply an innovative costing methodology to a sample of 155 countries: 49 low- income developing countries, 72 emerging market economies, and 34 advanced economies. And we refine the analysis with five country studies: Rwanda, Benin, Vietnam, Indonesia, and Guatemala.
Luc Eyraud, Mr. Xavier Debrun, Andrew Hodge, Victor Duarte Lledo, and Ms. Catherine A Pattillo
Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog
Oya Celasun, Mr. Francesco Grigoli, Ms. Keiko Honjo, Mr. Javier Kapsoli, Mr. Alexander D Klemm, Mr. Bogdan Lissovolik, Jan Luksic, Ms. Marialuz Moreno Badia, Ms. Joana Pereira, Mr. Marcos Poplawski Ribeiro, Baoping Shang, and Ms. Yulia Ustyugova
Latin America’s bold fiscal policy reaction to the global financial crisis was hailed as a sign that the region had finally overcome its procyclical fiscal past. However, most countries of the region have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively strong growth in the aftermath of the crisis. Using the experience of Brazil, Chile, Colombia, Mexico, Peru, and Uruguay, this paper examines the lessons and legacies of the crisis by addressing the following questions, among others: How much did the 2009 fiscal stimulus help growth? What shortcomings were revealed in the fiscal policy frameworks? What institutional reforms are now needed to provide enduring anchors for fiscal policy? How much rebuilding of buffers is needed going forward?
Oya Celasun, Mr. Francesco Grigoli, Ms. Keiko Honjo, Mr. Javier Kapsoli, Mr. Alexander D Klemm, Mr. Bogdan Lissovolik, Jan Luksic, Ms. Marialuz Moreno Badia, Ms. Joana Pereira, Mr. Marcos Poplawski Ribeiro, Baoping Shang, and Ms. Yulia Ustyugova
La reacción audaz que tuvo la política fiscal de América Latina ante la crisis financiera mundial fue tomada como una señal de que la región finalmente había superado su pasado fiscal pro-cíclico. Sin embargo, la mayoría de los países de la región aún no han reconstruido su espacio fiscal, a pesar de los abundantes ingresos públicos provenientes de las materias primas y el crecimiento relativamente estable tras la crisis. A partir de la experiencia de Brasil, Chile, Colombia, México, Perú y Uruguay, este documento analiza las lecciones y legados de la crisis abordando las siguientes preguntas, entre otras: ¿Cuánto contribuyó el estímulo fiscal de 2009 al crecimiento? ¿Qué deficiencias se identificaron en los marcos de política fiscal? ¿Qué reformas institucionales se necesitan ahora para aportar anclas persistentes para la política fiscal? ¿En qué medida se necesita reconstruir las protecciones de cara al futuro?
Mr. Sanjeev Gupta, Mr. Alex Segura-Ubiergo, and Enrique Flores
Some scholars have argued that direct distribution of natural resource revenues to the population would help resource-rich countries escape the “resource curse.” This discussion note analyzes whether this proposal is a viable policy alternative for resource-rich countries. The first priority for policymakers is to establish fiscal policy objectives to support macroeconomic stability and development objectives. In this regard, the establishment of an adequate fiscal framework that informs decisions on how much to save and invest, or how to smooth out revenue volatility, and deal with exhaustibility issues should precede any discussion of direct distribution of resource wealth to the population.
Mr. Sanjeev Gupta, Mr. Alex Segura-Ubiergo, and Enrique Flores
Algunos académicos han sostenido que la distribución directa a la población de ingresos públicos provenientes de recursos naturales ayudaría a los países ricos en recursos naturales a escapar de la “maldición de los recursos naturales”. Este documento analiza si esta propuesta constituye una alternativa política viable para países ricos en recursos naturales. La primera prioridad para los responsables de la formulación de políticas en los países ricos en materias primas consiste en establecer los objetivos de política fiscal para promover la estabilidad macroeconómica y el desarrollo de las economías. En este sentido, el establecimiento de un marco fiscal adecuado que aporte información para tomar decisiones sobre cuánto ahorrar y cuánto invertir, cómo atenuar la volatilidad de los ingresos públicos, y cómo abordar los problemas relacionados con el agotamiento de los recursos naturales debe preceder cualquier análisis sobre distribución directa de recursos a la población.